Climate Change Data

Unibail-Rodamco-Westfield SE

Climate Impact & Sustainability Data (2022, 2023)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Environmental Sustainability
  • Social Responsibility
  • Sustainable Retail Practices

Environmental Achievements

  • 94% of EU retail assets certified BREEAM In-Use, with 67% at “Excellent” or “Outstanding” levels
  • 68% of URW consumers expect the company to enable their sustainable practices
  • Share of URW Top 100 Retailers with SBTi-approved near-term target went from 33% to 40% between January & September 2023

Social Achievements

  • Development of the Sustainable Retail Index to measure retailers’ commitment to environmental transition and ongoing evolution
  • Westfield platform initiatives (Grand Prix, Good Festival, Rise) to connect consumers and retailers around sustainable initiatives

Governance Achievements

  • Development of the Better Places Certification, a proprietary standard assessing compliance with sustainability standards

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Driving assets towards URW’s Net-Zero target by 2027
Short-term Goals:
  • 100% of URW European assets certified by 2024

Environmental Challenges

  • Meeting rising stakeholder expectations for sustainability in the retail industry
  • Encouraging retailers to adopt sustainable practices
Mitigation Strategies
  • Development of the Sustainable Retail Index and Better Places Certification to drive sustainability performance and transparency
  • Engagement with retailers to encourage their transition to more sustainable practices

Supply Chain Management

Responsible Procurement
  • Sustainable Retail Index

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: BREEAM In-Use, SBTi

Certifications: Better Places Certification

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:3,071,578 tCO2e/year (location-based)
Scope 1 Emissions:15,835 tCO2e/year
Scope 2 Emissions:102,154 tCO2e/year
Scope 3 Emissions:2,953,589 tCO2e/year
Renewable Energy Share:71% of total energy use
Total Energy Consumption:592,830 MWh/year
Water Consumption:5,544,030 m3/year
Waste Generated:108,138 tons/year (retail only)
Carbon Intensity:1.51 tCO2e/Monetary unit (market-based)

ESG Focus Areas

  • Environmental Transition
  • Sustainable Experiences
  • Thriving Communities

Environmental Achievements

  • Reduced GHG emissions by -81.1% (Scopes 1 & 2) and -42.7% (Scopes 1, 2 & 3) by 2023 from a 2015 baseline.
  • Reduced energy intensity by -30.1% by 2023 from a 2015 baseline.
  • Achieved 44% recycling rate by 2023.
  • Reduced water consumption intensity by -13% by 2023 from a 2019 baseline.
  • 100% of major development projects achieved BREEAM Excellent or equivalent certification.

Social Achievements

  • 99% of URW employees had at least one annual sustainable business transformation objective.
  • 93% of URW employees completed a sustainability course annually.
  • 43% of senior management positions held by women.
  • Supported 15,000 people annually through training, social inclusion and employment opportunities (target).

Governance Achievements

  • 90% of Supervisory Board members qualified as ESG/Sustainability experts.
  • ESG component in STI and LTI of MB members since 2017 (increased to 25% in 2024).

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2050 (Scopes 1, 2 & 3).
Medium-term Goals:
  • Reduce GHG emissions by -90% (Scopes 1 & 2) and -50% (Scopes 1, 2 & 3) by 2030.
  • Achieve 70% recycling rate by 2030.
  • 100% of exposed assets implement risk mitigation measures by 2030.
Short-term Goals:
  • Reduce water consumption by -20% per footfall by 2030.
  • Zero waste to landfill by 2025.
  • 100% of assets in water stressed areas to implement water reuse solutions by 2025.

Environmental Challenges

  • Climate change, scarcity of resources, and social cohesion.
  • Supply chain disruptions.
  • Achieving Scope 3 emission reductions.
Mitigation Strategies
  • Science-based net-zero targets approved by SBTi.
  • Investment in Mirova Climate Fund for Nature and WWF Nature Impact Fund.
  • Building retrofit projects and new business opportunities in renewable electricity production and EV charging.
  • Working with retailers to reduce energy consumption.
  • Comprehensive mobility action plan.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Responsible Purchasing Charter; 100% timber from certified, sustainably managed forests.

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events, flooding
Transition Risks
  • Regulatory changes, market shifts, technology risk
Opportunities
  • Energy efficiency improvements, renewable energy, resilient assets

Reporting Standards

Frameworks Used: GRI, ESRS, TCFD, SBTi, UNGC

Certifications: ISO 14001, ISO 50001, ISO 20121, BREEAM In-Use, LEED

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • GRESB 5-star rating; CDP Climate Change A List; ISS ESG Prime status; Corporate Knights Global 100; Equileap Top 100 for gender equality.