Unibail-Rodamco-Westfield
ESRS disclosure: E4-1_03
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- Provide a detailed account of the resilience of your strategy and business model concerning biodiversity and ecosystems. Include a comprehensive description of the key assumptions made in this context.
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Question Id: E4-1_03
100% new development projects to achieve a biodiversity net gain. The preliminary studies of the Group biodiversity strategy showed that one of the main drivers of biodiversity loss is the change in land use. The Group decided to commit to limiting these impacts by aiming to achieve a biodiversity net gain between the state of the site before and after the construction in all large projects. All concerned projects started from 2022 onwards will use the "Biodiversity Metric 3.0" methodology, created by the Department for Environment, Food and Rural Affairs in the UK ("DEFRA"). This methodology was created to "calculate a biodiversity baseline and to forecast biodiversity losses and gains on site or off site resulting from development or land management changes", according to DEFRA. The Group will also make its best efforts to apply this target to its ongoing projects where it is possible.
Report Date: 4Q2023Relevance: 85%