Unibail-Rodamco-Westfield
Retail REITs
France
ESRS disclosure: S3-4_16
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- Provide detailed information regarding the intended or achieved positive outcomes of your programmes or investments for affected communities. Include a description of the process for setting targets, specifying whether and how direct engagement with affected communities, their legitimate representatives, or credible proxies was conducted. Additionally, outline the actions taken to address material impacts, manage material risks, and pursue opportunities related to these communities, and evaluate the effectiveness of these actions.
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Question Id: S3-4_16
In 2023, URW managed to achieve the following key actions:
- A large majority of assets supported at least 1 local charity or NGO-sponsored long-term project;
- 787 social or environmental initiatives were organised in the Group’s centres through the provision of spaces, collection of materials or donations, and educational events;
- The Group donated c. €13 M in 2023 and supported approximately 600 charities and NGOs on topics such as employment and skills, social inclusion and environment;
- The “URW for jobs” initiative organised in more than half of shopping centres across Continental Europe, the UK and the US led to more than 2,600 jobs and qualifying certifications provided through the programme and more than 6,000 training hours provided; and
- The launch of the Group Volunteering Programme (see section 3.2.3.A.3.4 Inspiring our people by opening their mind to sustainability while caring).
Examples of existing community resilience projects:
- Westfield Stratford City organised an impact test for the young people of Newham aimed at building relationships and preventing youth disenfranchisement. The event took place on October 26, 2023, and welcomed over 100 participants and spectators. Metropolitan Police, Elite Cycling, Transport for London, and the Queen Elizabeth Olympic Park, London Borough of Newham Youth Engagement team, and URW employees were among the stakeholders of the event.
- Centrum Cerny Most, in cooperation with Kokozá, an organisation specialising in composting, built a community garden around the shopping centre. It aims to promote social communities, green economies and a healthy lifestyle, as well as educate about ecology and wildlife. 32 raised beds were made available for the shopping centre’s neighbours to grow vegetables, small fruits, plants and herbs. Furthermore, the garden is open to local schools and pre-schools for educational projects. In addition, regular workshops focused on eco-sustainability are being organised along with individual gatherings and initiatives. The project, whose aim is to strengthen relationships within the community and raise awareness of the importance of composting, is supported by the Municipality of Prague. The grand opening was held in September 2023.
- Tausch-Rausch store in Pasing Arcaden is an initiative aimed at strengthening the neighbourhood community and encouraging people to exchange things they no longer need instead of throwing them away. The sustainable store concept allows people to bring used clothes, toys or books to give them a second life and possibly find something for themselves, as well. To express the sustainable side of this project, for the interior design the colourful walls used for another initiative were recycled. The store met with approval from the community and was covered by the local newspapers.
Report Date: 4Q2023Relevance: 85%