In the operational ecosystem of URW, value-chain workers play a pivotal role. These individuals encompass the workforce of URW’s direct suppliers and, to a lesser extent, the employees of the tenants’ stores within URW’s centres. Their roles are diverse and span across various stages of URW’s operations, from the construction phase to the maintenance stage. They are employed in the services provided by the stores located within URW’s centres, contributing to the vibrant retail experience that URW is known for.

Workers in URW’s upstream value chain: this group includes construction workers, architects and engineers involved in the building and design of URW’s assets. It also includes suppliers providing materials for construction and maintenance. URW’s capacity to operate mechanisms mostly focus on this category of value chain workers. Workers in URW’s downstream value chain: these are primarily individuals involved in the retail stores operating within URW’s shopping centres. They play a crucial role in attracting customers and ensuring a vibrant shopping experience. Additionally, logistics and distribution providers who ensure the smooth operation of the retail stores fall into this category.

Workers in URW’s upstream value chain: this group includes construction workers, architects and engineers involved in the building and design of URW’s assets. It also includes suppliers providing materials for construction and maintenance. URW’s capacity to operate mechanisms mostly focus on this category of value chain workers. Workers in URW’s downstream value chain: these are primarily individuals involved in the retail stores operating within URW’s shopping centres. They play a crucial role in attracting customers and ensuring a vibrant shopping experience. Additionally, logistics and distribution providers who ensure the smooth operation of the retail stores fall into this category.

URW’s approach to value chain workers is embodied in an interconnected set of policies on human rights, modern slavery, responsible procurement, and Health & Safety, reflecting URW’s commitment to uphold the highest standards in these areas. The policy is based on and aligned with international human rights texts and principles. To ensure the protection of human rights in its value chain, URW tackles the issue through complementary due diligence mechanisms that contribute to the identification of sustainability risks (including social and human rights risks) across its different purchasing categories and when necessary addresses them with corrective actions.

As outlined in URW’s Human Rights Policy, human rights risks are captured in the annual Group risk assessment. The purpose of URW’s human rights due diligence is to ensure that URW effectively identifies, assesses and addresses potential human rights risks and impacts associated with its operations, when deemed necessary and material through a risk assessment. It is based on multiple complementary internal mechanisms and aims to align with international standards to promote respect for human rights and uphold the Group’s corporate responsibility. The Group’s annual risk reviews address human rights impacts particularly through human resources and compliance risks. URW strives to conduct a materiality analysis covering all the Group’s operations and potential human rights impacts, considering local laws, regulations and socio-political conditions.

URW occasionally uses communication and training sessions to engage with its value chain workers. These sessions aim to inform the workers about the impacts of their actions and decisions on the environment, society and the business. For instance, URW systematically seeks the validation of the right to work of employees, workers on the Group’s construction sites and workers at the centres, where applicable. In line with the policies presented in section 3.2.3.B.3 Policies related to value chain workers, URW engages its business partners and vendors to fight any occurrence of modern slavery, human rights infringements, or H&S issues that might impact value chain workers or their communities.

The Group is committed to continuous improvement and is always looking for ways to enhance existing practices and deliver better outcomes for value chain workers. The Group’s approach to identifying what action is needed in response to a particular actual or potential material negative impact is part of the Group’s risk assessment process and based on the results of the double materiality analysis. This process included consultation with stakeholders, analysis of industry trends and consideration of regulatory requirements. H&S and the protection of value chain workers’ human rights, including the identification and prevention of any instance of modern slavery in the Company’s value chain, stand as the priorities identified.

The Group is committed to continuous improvement and is always looking for ways to enhance existing practices and deliver better outcomes for value chain workers. The Group’s approach to identifying what action is needed in response to a particular actual or potential material negative impact is part of the Group’s risk assessment process and based on the results of the double materiality analysis. This process included consultation with stakeholders, analysis of industry trends and consideration of regulatory requirements. H&S and the protection of value chain workers’ human rights, including the identification and prevention of any instance of modern slavery in the Company’s value chain, stand as the priorities identified.

The Group is committed to continuous improvement and is always looking for ways to enhance existing practices and deliver better outcomes for value chain workers. The Group’s approach to identifying what action is needed in response to a particular actual or potential material negative impact is part of the Group’s risk assessment process and based on the results of the double materiality analysis. This process included consultation with stakeholders, analysis of industry trends and consideration of regulatory requirements. H&S and the protection of value chain workers’ human rights, including the identification and prevention of any instance of modern slavery in the Company’s value chain, stand as the priorities identified.