Unibail-Rodamco-Westfield
ESRS disclosure: ESRS S3 \ DR S3.SBM-3
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- Has the undertaking ensured that all affected communities, who are likely to be materially impacted by its operations, value chain, products, services, and business relationships, are comprehensively included within the scope of disclosure as required under ESRS 2 SBM-3? Furthermore, has the undertaking provided the necessary information as stipulated in paragraph 48?
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Question Id: S3.SBM-3_01
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: 60%
- 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%
- Does the undertaking include all communities likely to be materially impacted by its operations and value chain in its disclosure under ESRS 2, as required by paragraph 48? Additionally, provide a brief description of the types of communities subject to material impacts by the undertaking's own operations or through its upstream and downstream value chain, specifying their characteristics.
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Question Id: S3.SBM-3_03
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%
- Has the undertaking disclosed whether all affected communities likely to be materially impacted by its operations, value chain, products, services, or business relationships are included in the scope of its disclosure under ESRS 2 SBM-3? Furthermore, in cases of material negative impacts, has the undertaking specified whether these impacts are widespread or systemic in the contexts where it operates or maintains business relationships, or if they are related to individual incidents within its own operations or specific business relationships? This should encompass impacts arising from the transition to greener and climate-neutral operations, including those associated with innovation, restructuring, mine closures, increased mineral mining for sustainable economy transitions, and solar panel production.
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Question Id: S3.SBM-3_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. 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: 50%
- Provide a comprehensive description of the activities undertaken by your company that result in material positive impacts on affected communities. Include details on the types of communities that are positively affected or could potentially be positively affected by these activities. Additionally, specify whether these positive impacts occur in particular countries or regions. Ensure that all affected communities likely to be materially impacted by your operations, value chain, products, services, and business relationships are encompassed within the scope of your disclosure, as per the requirements of ESRS 2 SBM-3.
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Question Id: S3.SBM-3_05
URW is aware of the leading economic importance of its real estate properties. In addition to being an urban planner, providing public facilities and building unique, iconic and well-connected places, URW plays a key role in the local ecosystem; URW is increasingly contributing to the social and economic vitality of the communities it serves. URW drives positive economic and social impact within its communities through employment, training and social inclusion:
- Economic driver: creating thousands of direct or indirect employment through construction and operational spending, indirect employment by tenants’ sales and activities, suppliers’ activities and local taxes; and
- Social integrator: actively working on maximising its impact by developing meaningful community projects and partnerships that support jobs, offer training, promote social inclusion and increase access to health and culture. In 2023, as part of the Better Places roadmap, URW has for the first time developed an innovation and multidimensional methodology to quantify and qualify the impact of URW shopping centres in Europe. This study, the first one published in the retail real estate industry in the EU, shows the positive footprint the Group has for communities and for citizens in their daily lives.
Report Date: 4Q2023Relevance: 85%
- Provide a comprehensive description of any material risks and opportunities that arise from the impacts and dependencies on affected communities, ensuring that all communities likely to be materially impacted by your operations, value chain, products, services, and business relationships are included within the scope of your disclosure as per ESRS 2 SBM-3.
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Question Id: S3.SBM-3_06
As explained in 3.2.1.C.1 Strategy, business model and value chain and section 3.2.1.C.3 Material impacts, risks and opportunities and their interaction with strategy and business model, as the operator of welcoming and inclusive places where people of all backgrounds connect, URW identified having a positive impact on communities as an integral part of its business model. This stems from economic and social vitality, supporting social cohesion.
Report Date: 4Q2023Relevance: 60%
- Provide a detailed account of whether and how your organization has developed an understanding of the potential risks faced by communities with specific characteristics, those residing in particular contexts, or those engaged in specific activities, as part of your materiality assessment under ESRS 2 SBM-3. This should include an analysis of the main types of communities that are or could be negatively impacted, in accordance with Disclosure Requirement ESRS 2 IRO-1.
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Question Id: S3.SBM-3_07
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: 65%
- Identify and disclose any material risks and opportunities that arise from impacts and dependencies on affected communities, specifying which of these pertain to particular groups within those communities, as opposed to the broader community, in accordance with ESRS 2 SBM-3.
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Question Id: S3.SBM-3_08
As explained in 3.2.1.C.1 Strategy, business model and value chain and section 3.2.1.C.3 Material impacts, risks and opportunities and their interaction with strategy and business model, as the operator of welcoming and inclusive places where people of all backgrounds connect, URW identified having a positive impact on communities as an integral part of its business model. This stems from economic and social vitality, supporting social cohesion.
Report Date: 4Q2023Relevance: 60%