Unibail-Rodamco-Westfield
ESRS disclosure: S3.SBM-3_02
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- Provide a detailed account of the types of communities that are subject to material impacts due to your company's operations, including those affected through your upstream and downstream value chain. Confirm whether all such communities are encompassed within the scope of your disclosure under ESRS 2, as per the requirements of paragraph 48. Specify the nature of these communities and their relation to your business activities, products, services, and business relationships.
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Question Id: S3.SBM-3_02
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. URW is deeply committed to integrating local communities into its operating model for both standing assets and development projects. For standing assets, URW engages with a variety of local stakeholders via its Community Resilience Action Plans in its approach to generating positive social impact. Community resilience is a complicated concept that involves preparedness against hazards, protection against risks, and the promotion of stable living conditions. URW's Community Resilience Actions Plans are an integral part of the long-term social strategy designed at asset level to contribute to the long-term development of the community. These plans are integrated into the management of URW's standing assets, ensuring that the interests of local communities are considered and prioritised. In terms of social impact, URW is committed to monitoring and improving its influence on a local scale. By measuring its social impact, URW strives to understand the aggregate impacts of its work and collaborate with local communities to achieve greater change. This process is crucial for URW to ensure that its operations are not only profitable but also beneficial to the communities in which it operates.
Report Date: 4Q2023Relevance: 65%