ESRS disclosure: E5-1_03

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  • Provide a detailed description of whether and how your company's policies address the waste hierarchy, specifically focusing on prevention, preparing for re-use, recycling, other recovery such as energy recovery, and disposal. Ensure that waste treatment is not categorized as a recovery method.
  • Question Id: E5-1_03

    The total volume of waste generated in a building, whatever its use, is mostly dependent on the level of activity of the tenants, i.e. sales for shopping centres and occupancy for office buildings. This means that the Group has a limited impact on the total volume of waste generated onsite. Nevertheless, the Group is committed to waste management efficiency measures, such as increasing waste sorting, raising awareness among tenants, as well as reducing the amount of waste generated, disposed, and implementing innovative waste management solutions. Improving Waste Sorting in Collaboration with Tenants and Waste Service Providers: Suitable waste segregation facilities are in place in all assets and most assets are equipped with specific sorting facilities and treatment solutions for organic waste, which represents a significant share of the total amount of waste generated by the Group. Tenants are regularly informed and made aware of local on-site waste management policies and processes and of the importance of sorting waste through tenants’ on-site discussions or the communication of site-level waste sorting guidelines. Both supplier purchasing contracts and tenant lease clauses establish the minimum requirements to be met for waste sorting and recycling. In Europe, waste management service providers must monitor and submit a monthly progress report, with details of tonnages collected by type of waste and recycling percentages achieved. Furthermore, they are asked to regularly submit a waste management improvement plan or propose available opportunities, such as upgrades in material recovery facilities, or modified equipment when the tenant mix changes to site management teams, to ensure the efficient management of each location’s waste streams. Shopping centre technical managers meet with waste management service providers on a frequent basis to monitor progress and performance. The waste solution providers’ remit, however, extend beyond just management and reporting, also focusing heavily on tenant engagement and communications.

    Report Date: 4Q2023