Provide a detailed explanation of whether and how any public claims of greenhouse gas (GHG) neutrality, which involve the use of carbon credits, are supported by GHG emission reduction targets. Additionally, clarify how these claims of GHG neutrality and the reliance on carbon credits do not hinder or diminish the achievement of GHG emission reduction targets or the net zero target.

Question

Accepted Answer

URW is committed to reaching net zero on its Scopes 1 and 2 by 2030 and on its Scopes 1, 2 and 3 by 2050, prioritising the reduction of its own GHG emissions through ambitious reduction targets (at least -90% by 2030 on Scopes 1 and 2 and by 2050 on Scopes 1, 2 and 3, with both targets from a 2015 baseline in absolute value of carbon emissions equivalent). URW will not rely on GHG removal credits nor GHG avoidance credits to reach its GHG carbon reduction targets. Those credits will always be counted separately from the Group’s own GHG emissions.

Unibail-Rodamco-Westfield

ESRS disclosure: E1-7_24

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