Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Society
• Governance

Environmental Achievements

• Implemented Environmental Management Systems (EMS) in shopping centers, equipped with Building Operation Monitoring Systems (BMS) to optimize energy consumption and maximize energy efficiency.
• Golden Hall uses natural gas for energy, minimizing emissions; implemented energy-saving measures including insulation, efficient HVAC, and LED lighting.
• The Mall Athens and Mediterranean Cosmos implemented similar energy-saving measures.
• Flisvos Marina ensured Guarantees of Origin of Renewable Energy Sources for 2020 electricity consumption; installed charging stations for electric vehicles.
• The Ellinikon project follows environmentally friendly design principles, integrating bioclimatic design and passive/active systems to reduce GHG emissions.

Social Achievements

• Created an attractive work environment with equal opportunities and various employee benefits (bonuses, stock options, medical insurance, etc.).
• Conducted annual Employee Satisfaction Surveys at Flisvos Marina.
• Supported various social organizations through donations, hosting events, and volunteer programs.
• Donated to the National Health System to combat the COVID-19 pandemic.
• Provided rent discounts to shopping center tenants during the pandemic.

Governance Achievements

• Established a Regulatory Compliance Unit to monitor regulatory obligations.
• Implemented a whistleblowing mechanism to enhance transparency and integrity.
• Adopted a Diversity Policy to promote diversity in the Board of Directors and senior management.
• Complied with the Hellenic Code of Corporate Governance (2021), with some exceptions.
• Certified facilities with ISO 9001:2015 and ISO 45001:2018.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic significantly impacted global, domestic economic and social activity, and financial markets; resulted in decreased revenues and EBITDA in shopping centers.
• Reduced sampling for water quality control at Flisvos Marina due to COVID-19 restrictions.

Mitigation Strategies

• Successfully issued a €320 million Common Bond Loan in July 2020.
• Shopping centers maintained 100% occupancy and saw a quick recovery in visitor numbers after reopening.
• Implemented enhanced health and safety protocols in shopping centers.
• Supported the vaccination program.

Supply Chain Management

Supplier Audits: 3 companies terminated partnership in 2020 due to ongoing evaluation at Flisvos Marina; Supplier evaluation based on reputation, price-quality, specialization, experience, financial robustness, reliability, delivery time, and certifications.

Responsible Procurement

• Procurement Policy reflects guidelines for timely and best-term procurement; market research to identify potential suppliers; supplier evaluation based on various criteria including certifications according to recognized international and EU standards.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core Option, ATHEX ESG Reporting Guide

Certifications: ISO 9001, ISO 14001, ISO 45001:2018 (Flisvos Marina)

Awards & Recognition

• Manager of the Year 2019 (Odisseas Athanasiou)
• 1st Corporate Governance Award (2020)
• Flisvos Marina: 5 Gold Anchors Platinum award, ISO 45001:2018, ISO 9001, ISO 14001, Blue Flag for 10 consecutive years, Clean Marina distinction

Environmental Metrics

ESG Focus Areas

• Climate stability, air pollution and energy
• Natural resources
• Employment
• Health and safety
• Infrastructure
• Social responsibility
• Corporate Governance
• Regulatory compliance and business ethics

Environmental Achievements

• ISO 14001:2015 certification of The Ellinikon's Environmental Management System
• LEED certification for all commercial developments and numerous residential developments at The Ellinikon
• Assessment of the Group's carbon footprint, including Scope 3 emissions
• Issuance of a €230 million Green Common Bond Loan

Social Achievements

• 20.8% increase in workforce
• Cooperation with more than 40 Non-Governmental Organizations
• Implementation of the “It's up to You” employee assistance program (psychological support)

Governance Achievements

• Update of the Internal Regulation of Operation
• Establishment of the Sustainable Development Unit
• Creation of a supplier evaluation questionnaire including ESG topics
• Development of a new whistleblowing platform

Climate Goals & Targets

Environmental Challenges

• Rising energy and raw material costs due to geopolitical instability
• Reducing carbon footprint and achieving carbon neutrality
• Managing transition risks related to climate change and regulatory changes

Mitigation Strategies

• Investment in renewable energy sources (Green Volt PC and R-Energy 1 Holdings S.A.)
• Implementation of Environmental Management Systems (EMS) and Building Operation Monitoring Systems (BMS)
• Energy upgrade of existing buildings
• Development of a specific strategy for carbon footprint reduction

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Procurement Policy
• Suppliers’ Code of Ethics

Climate-Related Risks & Opportunities

Physical Risks

• Climate change impacts affecting assets or operational activities

Transition Risks

• Regulatory changes related to sustainable development and the transition to a low-carbon economy

Opportunities

• Development of energy-efficient products
• Investment in renewable energy

Reporting Standards

Frameworks Used: GRI Standards 2021, ATHEX ESG Reporting Guide (2022), UN Sustainable Development Goals (SDGs)

Certifications: ISO 14001:2015, ISO 45001:2018 (Flisvos Marina and The Ellinikon)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

The strategy focuses on achieving the UN Sustainable Development Goals.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• The Most Sustainable Companies in Greece 2023
• Various Boussias awards for environmental and health & safety initiatives
• Emerging EMEA Executive Team 2022 awards
• LIT Design Awards 2022 for The Ellinikon Experience Centre
• Flisvos Marina awards

Environmental Metrics

ESG Focus Areas

• Climate change
• Circular economy
• People and Prosperity

Environmental Achievements

• 4% reduction in energy consumption
• 7% reduction in energy intensity
• 16% reduction in direct emissions (Scope 1)
• 7% reduction in indirect emissions (Scope 2, location-based)
• 14% reduction in indirect emissions (Scope 2, market-based)
• 17% reduction in other indirect emissions (Scope 3)
• 66% increase in total renewable materials used
• 2.4% increase in percentage of recycled input materials used
• 19% increase in percentage of waste to be recovered/recycled/reused
• The Ellinikon Experience Park received SITES Gold certification
• Building Complex for People with Disabilities received LEED Platinum certification
• The Ellinikon Mall was pre-certified LEED Gold

Social Achievements

• 10% increase in Group's workforce
• Established Human Rights Policy
• Completion and opening of the Building Complex for People with Disabilities
• Renovations to public sports facilities of OAKA
• Landscaping of outdoor squares and pavements in the Municipality of Maroussi
• Voluntary and charitable actions in cooperation with NGOs

Governance Achievements

• Revised Procurement Policy to streamline supplier selection process and incorporated a specific online application in the tendering phase
• Established a Sustainability Committee in early 2024

Climate Goals & Targets

Environmental Challenges

• Rising interest rates
• Increased costs of raw materials and materials
• Limited availability of human resources
• Extreme weather events
• Increased energy costs
• Reducing its carbon footprint and achieving carbon neutrality

Mitigation Strategies

• Integrated Environmental Management Systems applied to the Group’s investment properties to continuously monitor and optimize the energy and water consumption, as well as the proper management of raw materials and waste
• Assessment of current and future physical climate risks
• Implementation of “green” energy investments to reduce future energy costs by minimizing its dependence on traditional energy sources
• Specific alignment plan for eligible economic activities to meet both environmental technical criteria and social safeguards of the EU Taxonomy Regulation
• Development and implementation of strict safety measures as part of its Health and Safety Management Systems

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Suppliers’ Code of Ethics
• SAP ARIBA platform for tenders

Climate-Related Risks & Opportunities

Physical Risks

• Heat wave
• Fire
• Storm
• Strong winds
• Heavy snowfall
• Frost
• Soil erosion
• Sea level rise
• Drought
• Heavy rainfall and snowfall
• Flooding

Transition Risks

• Transition to a low-carbon economy
• Compliance with changing regulatory framework

Opportunities

• Development of energy-efficient products
• Investments in renewable energy

Reporting Standards

Frameworks Used: GRI Standards 2021, ATHEX ESG Reporting Guide (2022), UN Sustainable Development Goals (SDGs)

Certifications: ISO 14001:2015 (Designer Outlet Athens), ISO 45001:2018 (Flisvos Marina, The Ellinikon)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Ranked as one of the most sustainable companies in Greece by the QualityNet Foundation
• Circular Economy Awards 2023
• Health & Safety Awards
• PPC BITE AWARDS 2023
• HR Awards 2023
• HRIMA 2023
• Hellenic Responsible Business Awards 2023
• Protagonists of the Greek Economy 2023
• Emerging EMEA Executive Team
• Bravo Sustainability Dialogue & Awards 2023
• World Architecture Festival Awards 2023
• Fast Company 2023 World Changing Ideas Awards
• FUTURE HOUSE® Awards 2023
• Project of the year 2023
• Best CX in Mobile UX | CX Awards
• Flisvos Marina 5 Gold Anchors Platinum