Unibail-Rodamco-Westfield
ESRS disclosure: IRO-1_06
Tags Tree
- ESRS ESRS 2ESRS 2 Framework
- ESRS E1Climate Remuneration Disclosure
- ESRS E2Pollution Management
- ESRS E3Water & Marine Resources
- ESRS E4Material Sites Disclosure
- ESRS E5Resource Use & Circular Economy
- ESRS S1Workforce Impact Disclosure
- ESRS S2Value Chain Workers Scope
- ESRS S3Affected Communities Disclosure
- ESRS S4Consumer Impact Disclosure
- ESRS G1Governance Disclosure
- Provide a detailed explanation of the process your organization employs to identify, assess, prioritize, and monitor potential and actual impacts on people and the environment. This should be informed by your due diligence process and include an account of how negative impacts are prioritized based on their relative severity and likelihood. Additionally, if applicable, describe how positive impacts are prioritized based on their relative scale, scope, and likelihood. Clarify how these processes determine which sustainability matters are deemed material for reporting purposes, referencing any qualitative or quantitative thresholds and other criteria as outlined in ESRS 1 section 3.4 on Impact Materiality.
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Question Id: IRO-1_06
The purpose of this double materiality assessment was to assess the materiality of sustainability and ESG topics from 2 complementary perspectives:
An “impact” perspective, i.e., the negative or positive impacts of the Company and its activities on the environment, the people it works with and the communities it operates in. It considered the scale (level of criticality of the issue), the scope (value chain and affected stakeholders), the remediability (ability to mitigate the impact), as well as the likelihood of the impact.
A “financial” perspective, i.e., the risks or opportunities that environmental and social issues represent for the Company’s activity and value. It considered the Company’s dependencies towards business relations and stakeholders (i.e., financial partners, tenants or suppliers), as well as the continuity of use or access to resources that are essential for the Company to operate and grow (e.g., raw materials, retention of key talents or development of stricter regulations). The materiality of risks and opportunities has been assessed based on the likelihood of occurrence and the potential magnitude of the financial effects. The financial thresholds considered for the analysis were aligned with the financial impact scales used for the Group risk mapping.
Report Date: 4Q2023Relevance: 80%