Reducing water consumption is an operational target at all sites as part of the Group’s resource efficiency policy and is closely tracked and managed at asset and Group levels. Based on environmental best practices, the Group is taking active steps to limit water consumption, reduce water waste and maintain water quality. Each URW asset updates annually its environmental action plan, including a specific section towards the accomplishment of URW targets related to water. Viparis is also committed to reduce water consumption of its venues and preserve it from pollution. To this end, improved monitoring of water consumption and leak detection processes are implemented and completed with investments in drip irrigation, water-saving taps or toilets, rainwater recovering systems (Palais des Congrès de Paris, Pavilion 6 of Paris Expo Porte de Versailles, Hall 3 of Paris le Bourget), and requirements for cleaning suppliers to use products with ecolabels.

In 2023, the Group has committed two new targets on water: 100% of retail (Shopping Centres) assets in water stressed areas with water reuse solutions by 2025, and 100% of URW’s portfolio by 2030; and Reduce water consumption by -20% in intensity per footfall compared to 2019. The first target focuses on water stressed areas where water conservation and preservation issues are more material. “Water stressed areas” are defined according to the WWF Water Risk Filter, using the water scarcity risk KPI. For assets located in these areas (12 assets as per the WWF risk filter in 2023), the reuse of water is a priority to limit the consumption of municipal water. The second target has the same objective but with a different timeframe for URW’s assets not located in water stressed areas. The Group prioritises the use of non-drinkable or reused water over drinkable water wherever possible. In 2023, 12 shopping centres collected 180,000 m3 of rainwater and groundwater or greywater on site, which was used for cleaning and for watering green spaces. Projects are also planned in the environmental actions plans of some of the Group’s assets to increase water reuse, using underground water for cooling towers or extending roof rainwater harvesting systems for landscape areas with additional water tanks.

URW does not anticipate any material financial effects from material water and marine resources related risks and opportunities.