Unibail-Rodamco-Westfield
ESRS disclosure: ESRS S3 \ DR S3-5
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- Provide a detailed account of the process utilized in establishing targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Specifically, disclose whether and how direct engagement with affected communities, their legitimate representatives, or credible proxies with insight into their situation was conducted during the target-setting phase.
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Question Id: S3-5_01
URW will strive to strengthen its existing policies and underlying mechanisms. These policies will be regularly reviewed and updated to ensure they remain effective and relevant. URW will strive to enhance its due diligence mechanisms with a focus on modern slavery and human rights aspects, as well as reinforce its “Know Your Partner” screening process to conduct thorough verification of new business partners and monitor current business partners. This will help in identifying and mitigating any potential risks.
Report Date: 4Q2023Relevance: 45%
- Provide a detailed account of the process your organization employs in setting targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Specifically, disclose whether and how your organization engaged directly with affected communities, their legitimate representatives, or credible proxies who possess insight into their situation, in tracking your organization's performance against these targets.
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Question Id: S3-5_02
URW regularly holds local communities’ consultation on its Community Resilience Action Plans implemented at asset level as well as meetings such as Safety Advisory Group meetings, annual transport plans and accessibility meetings. For development projects, from the early phases of planning to the final stages of delivery, URW ensures that local communities are not just considered, but actively consulted. This approach allows URW to understand the unique needs and aspirations of the community, ensuring that each project is tailored to its context.
Report Date: 4Q2023Relevance: 80%
- Has the undertaking engaged directly with affected communities, their legitimate representatives, or credible proxies to identify lessons or improvements resulting from the undertaking's performance, and if so, how was this engagement conducted?
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Question Id: S3-5_03
URW is committed to discuss with local stakeholders, including local residents, associations, and leisure centres. Local residents’ meetings are organised for some of its venues, especially when there are construction projects underway. For example, during construction work, monthly residents’ committees allow ongoing contact between Viparis and those who live in the vicinity of Paris Expo Porte de Versailles. At committee meetings, Viparis is attentive to residents’ needs and expectations, answers questions and provides information that concerns them.
Report Date: 4Q2023Relevance: 85%
- Provide a detailed account of the process your organization employs to establish targets concerning the management of significant negative impacts, the promotion of positive impacts, and the management of material risks and opportunities. Specify whether and how your organization has engaged directly with affected communities, their legitimate representatives, or credible proxies with insights into their situation. Additionally, elucidate the intended outcomes your organization aims to achieve in the lives of these affected communities, ensuring specificity in your disclosure.
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Question Id: S3-5_04
Communities affected by URW are defined in the context of URW’s activity, i.e. as an operator in real estate. In the context of URW, affected communities are the local communities in which URW’s assets are an integral part. As an operator of sustainable places that Reinvent Being Together, URW has an active role to play within communities in which it operates. The Group’s economic success is based on a strong relationship and regular consultations with its stakeholders: tenants, customers, investors, local communities, suppliers and contractors, as well as employees.
Report Date: 4Q2023Relevance: 60%
- Provide details on the process your organization employs to establish targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Specify whether and how your organization engaged directly with affected communities, their legitimate representatives, or credible proxies with insight into their situation. Additionally, disclose the stability of these targets over time, particularly in terms of definitions and methodologies, to ensure comparability over time.
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Question Id: S3-5_05
Looking beyond 2023, the Group has made the commitment to support its role as a catalyst for economic and social impact with a target of 15,000 people supported annually through training, social inclusion and employment opportunities. The key actions related to it are: Continue implementing Community Resilience Action Plans for the Group’s assets; Monitor the economic, social and environmental impact of URW shopping centres through a dedicated impact assessment; Organise upskilling programmes and recruitment events; Work with partners specialised in social inclusion and health programmes, including support for charities and NGOs.
Report Date: 4Q2023Relevance: 60%
- Provide a detailed account of the process your organization employs to establish targets concerning the management of material negative impacts, the promotion of positive impacts, and the handling of material risks and opportunities. Specify whether and how your organization has engaged directly with affected communities, their legitimate representatives, or credible proxies with insights into their situation. Additionally, disclose the standards or commitments upon which these targets are based, such as codes of conduct, sourcing policies, global frameworks, or industry codes, as per Disclosure Requirement S3-5.
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Question Id: S3-5_06
URW will strive to strengthen its existing policies and underlying mechanisms. These policies will be regularly reviewed and updated to ensure they remain effective and relevant. URW will strive to enhance its due diligence mechanisms with a focus on modern slavery and human rights aspects, as well as reinforce its “Know Your Partner” screening process to conduct thorough verification of new business partners and monitor current business partners. This will help in identifying and mitigating any potential risks.
Report Date: 4Q2023Relevance: 60%