Climate Change Data

Gazit Globe

Climate Impact & Sustainability Data (2019-2020)

Reporting Period: 2019-2020

Environmental Metrics

Renewable Energy Share:100% (Citycon own consumption)

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Reduced Greenhouse Gas Intensity by 73% from 2014 baseline
  • 100% of shopping centers accessible by public transportation
  • 77% of shopping centers BREEAM in-use certified
  • Reduced energy intensity by 15% from 2014 baseline
  • 100% of renewable electricity used for own consumption
  • Reduced climate change impact by 74% from 2014 baseline
  • Installation of solar panels on rooftops of majority of Israeli centers (approx. NIS 12 million investment)
  • Replacement of lighting with LEDs in Atrium Reduta and Atrium Copernicus, saving on energy costs
  • Rainwater tank and harvesting system at Atrium Flora saving 8% of total water consumption

Social Achievements

  • 54% of Citycon’s management committee were women in 2020
  • 58% of Citycon managers were women in 2020
  • Overall gender balance at Citycon: 58% men, 42% women
  • At Atrium in 2020, group executive management was 16% women, 49% of managers were women and overall gender balance was 66% women
  • Implemented COVID-19 safety measures across all operations
  • Community outreach programs during COVID-19 pandemic
  • 99% recycling rate in Citycon shopping centers in 2019 and 2020
  • Provided recycling training for tenants in multiple shopping centers
  • Over 700 community engagement events organized in 2019
  • Launched Citycon Sustainability Awards

Governance Achievements

  • Platinum Plus ranking in Maala ESG rating index
  • Formalized sustainability policy at Atrium focusing on customers, places, and people
  • Established a Sustainability Committee at Atrium
  • Implemented a Code of Business Conduct
  • Adopted Anti-Corruption and Anti-Bribery guidance
  • Annual training for all employees on code of ethics, sexual harassment, cybersecurity, anti-corruption, and securities regulation

Climate Goals & Targets

Medium-term Goals:
  • Citycon to become carbon neutral by 2030
Short-term Goals:
  • Implement environmental policy at Gazit Israel by 2021
  • All Atrium core assets to receive BREEAM certification by 2021
  • All Citycon assets to be certified by 2022

Environmental Challenges

  • COVID-19 pandemic impact on business and sustainability actions
  • Center closures due to lockdowns
  • Economic challenges for some tenants
Mitigation Strategies
  • Prioritized health and safety of visitors, employees, and tenants
  • Maintained high cleanliness in centers and offices
  • Shifted to working from home where possible
  • Community outreach to vulnerable populations
  • Supported tenants through active asset management and lease prolongations
  • Accelerated deployment of Atrium Connect software for tenant engagement
  • Adapted leasing structures to accommodate changing consumer habits and e-commerce

Supply Chain Management

Responsible Procurement
  • Supplier Code of Ethics and Responsible Procurement Policy in Israel

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core option 2

Certifications: BREEAM, LEED, Israel ILGBC

UN Sustainable Development Goals

  • 5: Gender Equality
  • 8: Decent Work and Economic Growth
  • 9: Industry, Innovation and Infrastructure
  • 11: Sustainable Cities and Communities

Gazit Globe's initiatives contribute to these SDGs through various programs and strategies related to gender equality, employee well-being, technological innovation, and sustainable urban development.

Awards & Recognition

  • Maala Platinum Plus ranking