Unibail-Rodamco-Westfield
ESRS disclosure: ESRS ESRS 2 \ DR GOV-3
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- Does the undertaking have incentive schemes and remuneration policies linked to sustainability matters for members of its administrative, management, and supervisory bodies? If so, provide detailed information regarding these schemes and policies, as required by Disclosure Requirement GOV-3.
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Question Id: GOV-3_01
Remuneration based on performance has been the cornerstone of the Group’s Remuneration Policy. The interests of the members of the MB are aligned with the long-term value creation objectives of the Group and its shareholders. The STI and LTI of MB members includes an ESG component since 2017, in line with the Group’s Better Places roadmap. In summer 2023, under the guidance of the GNRC and in full alignment with the 2023 Remuneration Policy, it was agreed to review the ESG components of STI and LTI in 2024 so that the weighting of ESG metrics in MB STI and LTI reflect both market practice and the Company’s leadership on and commitment to sustainability, and to review the Group’s metrics used in light of the evolution of Better Places to support the environmental transition of cities and retail, as announced on October 10, 2023.
Report Date: 4Q2023Relevance: 85%
- Provide a detailed description of the key characteristics of the incentive schemes and remuneration policies linked to sustainability matters for members of the undertaking's administrative, management, and supervisory bodies, as required under Disclosure Requirement GOV-3.
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Question Id: GOV-3_02
The STI and LTI of MB members includes an ESG component since 2017, in line with the Group’s Better Places roadmap. In summer 2023, under the guidance of the GNRC and in full alignment with the 2023 Remuneration Policy, it was agreed to review the ESG components of STI and LTI in 2024 so that the weighting of ESG metrics in MB STI and LTI reflect both market practice and the Company’s leadership on and commitment to sustainability, and to review the Group’s metrics used in light of the evolution of Better Places to support the environmental transition of cities and retail, as announced on October 10, 2023.
Report Date: 4Q2023Relevance: 80%
- Provide detailed information regarding the integration of sustainability-related performance in incentive schemes and remuneration policies for members of your administrative, management, and supervisory bodies. Specifically, indicate whether performance assessments are conducted against specific sustainability-related targets and/or impacts, and identify those targets and impacts, if applicable.
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Question Id: GOV-3_03
The STI and LTI of MB members includes an ESG component since 2017, in line with the Group’s Better Places roadmap. In summer 2023, under the guidance of the GNRC and in full alignment with the 2023 Remuneration Policy, it was agreed to review the ESG components of STI and LTI in 2024 so that the weighting of ESG metrics in MB STI and LTI reflect both market practice and the Company’s leadership on and commitment to sustainability, and to review the Group’s metrics used in light of the evolution of Better Places to support the environmental transition of cities and retail, as announced on October 10, 2023.
Report Date: 4Q2023Relevance: 85%
- Provide detailed information regarding the integration of sustainability-related performance metrics within the incentive schemes and remuneration policies applicable to members of your administrative, management, and supervisory bodies. Specifically, disclose whether and how these metrics are utilized as performance benchmarks or incorporated into remuneration policies.
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Question Id: GOV-3_04
The STI and LTI of MB members includes an ESG component since 2017, in line with the Group’s Better Places roadmap. In summer 2023, under the guidance of the GNRC and in full alignment with the 2023 Remuneration Policy, it was agreed to review the ESG components of STI and LTI in 2024 so that the weighting of ESG metrics in MB STI and LTI reflect both market practice and the Company’s leadership on and commitment to sustainability, and to review the Group’s metrics used in light of the evolution of Better Places to support the environmental transition of cities and retail, as announced on October 10, 2023.
Report Date: 4Q2023Relevance: 85%
- At what level within the undertaking are the terms of incentive schemes, related to sustainability matters for members of the administrative, management, and supervisory bodies, approved and updated?
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Question Id: GOV-3_06
In summer 2023, under the guidance of the GNRC and in full alignment with the 2023 Remuneration Policy, it was agreed to review the ESG components of STI and LTI in 2024.
Report Date: 4Q2023Relevance: 60%