Climate Change Data

Unibail-Rodamco

Climate Impact & Sustainability Data (2013)

Reporting Period: 2013

Environmental Metrics

ESG Focus Areas

  • Local economic development
  • Energy & carbon product labeling and connectivity
  • Tenants & Visitors
  • Employees

Environmental Achievements

  • 53% of the Group’s standing shopping centre portfolio (over 1.6 Mn m2 of consolidated GLA) is BREEAM In-Use certified.
  • Aéroville started its geothermal plant and became the biggest shopping centre in France heated and cooled by geothermal energy produced on-site, contributing to avoid 310 tons of CO2 emissions each year.
  • Cumulative decrease in energy consumption in kWh per visit for the shopping centre portfolio on a like-for-like basis was -22% between 2006 and 2013.
  • CO2 emissions per visit estimates show a -58% cumulative decrease for the 2006-2013 period.

Social Achievements

  • 31,448 jobs supported by Unibail-Rodamco’s shopping centres in France
  • 222 employees were promoted in 2013
  • Launched the “4 Star label” initiative to increase customer comfort and ensure consistency of quality and services in the Group’s managed malls.
  • Annual “retailer open house” events are held in each region to present the Group’s portfolio of existing assets and new developments to current and potential tenants.

Governance Achievements

  • Unibail-Rodamco was rated best corporate governance company in the CAC40 by Proxinvest in 2013.
  • Unibail-Rodamco was listed in the 2013 World's Most Ethical Companies selection.
  • The Group adheres and applies the best practice recommendations of the French Afep-Medef Corporate Governance Code.

Climate Goals & Targets

Long-term Goals:
  • Maintain the customer satisfaction survey score above 8/10 for the managed retail portfolio.
  • Reach 90% of green lease for total active Retail and Office portfolio by 2016.
Medium-term Goals:
  • Achieve a BREEAM-In-Use certification for at least 80% of its shopping centres (managed assets – in m2) by 2016 with a minimum of “Very Good” for the “Building Management” score.
  • Obtain environmental certification (BREEAM) for at least 80% of the managed Offices portfolio by 2016 (in m2).
  • Achieve -30% for its cumulated carbon intensity by 2020 compared to the 2012 baseline.
Short-term Goals:
  • Reduce the proportion of waste sent to landfill by 50% in 2016 relative to 2009
  • Obtain a waste recycling rate of at least 50% by 2016
  • Successfully audit at least 30 managed shopping centres according to the “4 Star label” by the end of 2014.

Environmental Challenges

  • Difficult economic environment in Spain, The Netherlands and the Czech Republic.
  • Slow economic recovery in Europe.
  • Increased competition in the office market.
  • Rising energy prices and potential supply shocks.
Mitigation Strategies
  • Focus on large shopping centres in wealthy and densely populated catchment areas.
  • Active management of assets, including renovations and retenanting.
  • Disciplined approach to acquisitions and disposals.
  • Energy-efficient behaviours, equipment replacements, and use of low-carbon and renewable energies.

Supply Chain Management

Supplier Audits: 389 contracts assessed in 2013

Responsible Procurement
  • Considerate Construction Charter
  • Green lease policy
  • Supplier sustainability requirements

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding
  • Extreme weather
Transition Risks
  • Higher insurance premiums
  • Higher operating costs
Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI G4, EPRA Best Practice Recommendations for Sustainability Reporting, GRI-CRESS (Global Reporting Initiative – Construction & Real Estate Sector Supplement)

Certifications: BREEAM, HQE

Third-party Assurance: EY

Awards & Recognition

  • EPRA Gold Award
  • FSIF ESG Trophy
  • GRESB “Regional Sector Leader” for Europe Retail
  • World’s Most Ethical Companies