Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Community Engagement
• Employee Development
• Sustainable Lifestyles

Environmental Achievements

• More than 40% reduction in the energy intensity of our portfolio
• More than 80% reduction in greenhouse gas emissions (GHG)
• Implementation of a biodiversity action plan
• Achieved 99.8% average achievement rate for 32 targets

Social Achievements

• All development projects involved local cooperation and supported local initiatives
• Klépierre Academies offering programs to upskill stakeholders
• Inclusion clause in all service providers’ contracts
• Employee engagement in sponsorship programs
• Access to preventive healthcare programs

Governance Achievements

• Ranked No. 1 worldwide by GRESB for three consecutive years (score 98/100)
• Commitments compatible with the 1.5°C trajectory of the Paris Agreement
• Included on the CDP’s “A List” for environmental transparency and climate action
• AAA rating for ESG performance

Climate Goals & Targets

Environmental Challenges

• Climate emergency requiring even more ambitious goals
• Need to create sector-wide momentum for sustainable practices

Mitigation Strategies

• Development of Act4Good strategy with binding objectives and stakeholder commitment
• Collaboration with experts and employees to develop a realistic yet ambitious roadmap
• Implementation of initiatives to reduce energy consumption, promote renewable energy, and enhance waste management

Supply Chain Management

Responsible Procurement

• Sustainability charter governing construction site supply and management by suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRESB, Science Based Targets initiative, CDP

Environmental Metrics

ESG Focus Areas

• Energy efficiency and GHG emissions
• Renewable energy
• Circular economy
• Biodiversity
• Water consumption
• Waste reduction and management
• Resilience to climate change
• Business ethics
• Respect for human rights
• Customer health and safety
• Outsourcing and responsible purchasing
• Governance
• Partnerships with retailers
• Local economic development
• Stakeholder dialogue

Environmental Achievements

• Reduced total energy consumption by 5% (like-for-like)
• Reduced energy intensity by 3% (reported scope) and 8% (like-for-like)
• Reduced Scopes 1 & 2 GHG emissions by 7% (like-for-like) using location-based method and by 20% using market-based method.
• Reduced water consumption by 17% (reported scope) and 17% (like-for-like)
• Increased share of energy from renewable sources to 79%
• 100% of assets certified BREEAM In-Use Part 1, 55% certified BREEAM In-Use Part 2
• Increased proportion of waste recycled by 2% (reported scope)

Social Achievements

• Increased share of women in Executive Management to 23%
• Achieved 100% training access rate with increased average training hours per employee
• 93% of employees completed performance appraisals
• Increased percentage of local service providers in operational management to 98%

Governance Achievements

• 100% of employees made aware of technical business practices
• 100% of service suppliers selected based on CSR criteria (calculated on the scope managed by the French Procurement Department, 37% of Klépierre)

Climate Goals & Targets

Environmental Challenges

• Severe winter weather in Southern Europe increasing fuel consumption
• Disposal of five Norwegian assets impacting electricity and fuel consumption in Scandinavia
• Health crisis impacting footfall and tenant energy consumption
• Tense job market in Turkey impacting employee turnover

Mitigation Strategies

• Ongoing efforts to reduce electricity consumption (real-time monitoring, BOOST programs)
• BOOST programs deployed widely across the portfolio
• Renegotiation of energy supply contracts to increase renewable energy share
• Stricter control of refrigerants
• Improved collaboration with tenants on waste sorting
• New recovery solutions and plants in Spain and Central Europe

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• 100% of service suppliers selected based on CSR criteria (on a specific scope)

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI, EPRA sBPRs, CNCC, UN SDGs, TCFD, SASB

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

Third-party Assurance: Deloitte

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Community Engagement
• Employee Development
• Sustainable Lifestyles

Environmental Achievements

• 84% reduction in Scopes 1 & 2 carbon intensity since 2017
• 100% of purchased electricity within common and serviced areas is sourced from renewables
• 100% of centers have at least a sustainable development certification
• 48% decrease in energy intensity since 2013
• 41% of waste was recycled or reused
• 100% of food waste was composted or digested

Social Achievements

• Launched Act4Good™ CSR strategy
• Increased female representation in top management and top 100 positions
• Implemented various employee well-being initiatives
• Organized numerous community engagement projects

Governance Achievements

• Established a formal governance structure for Act4Good™
• Incorporated Act4Good™ commitments into performance share allocation criteria for principal managers
• Updated Responsible Procurement Charter

Climate Goals & Targets

Environmental Challenges

• Climate-related events (riverine flooding, extreme heat)
• Regulatory tightening in building energy efficiency requirements
• Increased capital and operating expenditure for environmental improvements
• Lack of employee engagement
• Damage, structural weakness and building collapse
• Inadequate performance on waste management
• Inadequate contribution to local social and economic development
• Risk of local protest and local unacceptability of activities
• Loss of key competencies
• Lack of inclusion and fair access to opportunities

Mitigation Strategies

• Analysis of portfolio’s exposure to physical risks
• Structural audits every five years
• Support to tenants
• SBTi-approved climate strategy
• Internal digital tool for steering and energy monitoring
• Energy saving approach with monthly reporting
• BREEAM In-Use certification
• Increased use of renewable energy
• Analysis of portfolio’s exposure to transition risks
• Energy saving measures
• Contractualization or renegotiation of contracts with energy providers
• Internal digital tool for steering and waste monitoring
• Renegotiation of contracts with waste service providers
• Retailers’ staff support and training
• BREEAM New Construction certification
• Use of environmentally friendly materials in construction projects
• Local partnerships and actions to promote local employment
• Solidarity-based operations
• Support and strengthening of tenants’ responsible initiatives
• Individualized talent management support
• Investment in management development
• Well-being & health strategy
• Rewards & recognition policies
• Biennial engagement survey
• Regular talent reviews
• Behavioral competencies’ model
• Key learning paths continuously reviewed
• Gender balance group wide objectives
• Disability inclusion policy
• Group Inclusion Charter
• Salary equity strategy
• Inclusive management development program
• Adaptation of HR processes

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Responsible Procurement Charter

Climate-Related Risks & Opportunities

Physical Risks

• Riverine flooding
• Extreme heat

Transition Risks

• Increased cost of energy
• Regulatory changes
• Market shifts

Opportunities

• Market preference for green buildings
• Access to green financing
• Optimization of resource use

Reporting Standards

Frameworks Used: GRI, TCFD, SASB, EPRA, UN Global Compact, EU Taxonomy

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

Third-party Assurance: Deloitte & Associés

UN Sustainable Development Goals

• Goal 7 (Affordable and clean energy)
• Goal 11 (Sustainable cities and communities)
• Goal 13 (Climate action)
• Goal 8 (Decent work and economic growth)
• Goal 12 (Responsible consumption and production)

Act4Good™ initiatives contribute to these goals through various actions

Awards & Recognition

• GRESB 5-star rating
• CDP Climate A-list
• EPRA Gold Award

Environmental Metrics

ESG Focus Areas

• Climate change
• Environmental performance

Environmental Achievements

• €2,972 million of the Group’s financing is subject to sustainability criteria, typically whereby the margin on the facility is reduced if Klépierre achieves the targets set out in the loan agreement. Most of the resulting savings are reinvested by Klépierre in programs designed to improve the low-carbon efficiency and overall environmental performance of its assets.
• A five-year, €260 million green mortgage loan was signed in 2023.

Climate Goals & Targets

Environmental Challenges

• Construction permit for an area of Field’s shopping center in Copenhagen declared invalid due to non-compliance with the local development plan.

Mitigation Strategies

• Filed an appeal with suspensive effect and exploring other options to work towards administrative legalization.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS