CSR Performance
CSR Performance
Better Places 2030 builds on the United Nations Sustainable Developpement Goals. With our CSR strategy, we contribute directly to 10 out of 17 of theses goals, with a strong focus on the "Sustainable cities and communities" objective. The external recognitions that we received for our relentless efforts make us proud.
- Cut carbon emissions across our value chain by -50% by 2030.
- Reduce emissions from construction by -35 % by 2030
- 100% development projects to integrate a circular economy design solution by 2025
- 100% development projects to include long-term climate risks, while minimising resource use and maintaining user comfort by 2025
- Reduce emissions from operations by -80 % by 2030
- Improve the energy efficiency of our assets by 30% by 2030
- Multiply the installed capacity of on-site renewable energy five-fold by 2025
- 100% of our assets to include a climate change risk plan by 2022
- Aim to send zero waste to landfill by 2025
- Reduce emissions from transport by -40 % by 2030
- 50% of visitors to access Group assets by sustainable means of transport by 2030
- 100% development projects significantly connected to public transport solutions by 2025
- Develop a Group Biodiversity Strategy by 2022
- 100% standing assets with high biodiversity stakes to implement a biodiversity action plan by 2022
- 100% development projects to implement a biodiversity action plan by 2022
- Cut carbon emissions across our value chain by -50% by 2030.
- Reduce emissions from construction by -35 % by 2030
- 100% development projects to integrate a circular economy design solution by 2025
- 100% development projects to include long-term climate risks, while minimising resource use and maintaining user comfort by 2025
- Reduce emissions from operations by -80 % by 2030
- Improve the energy efficiency of our assets by 30% by 2030
- Multiply the installed capacity of on-site renewable energy five-fold by 2025
- 100% of our assets to include a climate change risk plan by 2022
- Aim to send zero waste to landfill by 2025
- Reduce emissions from transport by -40 % by 2030
- 50% of visitors to access Group assets by sustainable means of transport by 2030
- 100% development projects significantly connected to public transport solutions by 2025
- Develop a Group Biodiversity Strategy by 2022
- 100% standing assets with high biodiversity stakes to implement a biodiversity action plan by 2022
- 100% development projects to implement a biodiversity action plan by 2022
(1) Total operated area.
The Group Biodiversity Strategy has been developed in 2020 with, in addition to the two existing commitments, a new one on having 100% new development projects to achieve a biodiversity net gain by 2022.
In 2020, the new Group Biodiversity Strategy brought details and operational guidance for this commitment on both high biodiversity stakes assets and action plans.
In 2020, the new Group Biodiversity Strategy brought details and operational guidance for this commitment. Biodiversity-related themes are also monitored in the new development project assessment tool.
- €20 Mn of social value generated through community oriented programmes in 2021
- 100% of Flagship assets to support local entrepreneurship through commercial partnerships and regional networks from 2020 onwards
- 1,000 people to integrate a job or a qualifying training certification through the URW for Jobs programme from 2020 onwards
- 100% of Flagship assets to support at least one local charity or NGO-sponsored long-term project (>two years) by 2022
- Collaborate with tenants to increase transparency of brands on health and sustainability, and to expand healthy and sustainable alternatives in 100% of Flagship assets by 2025
- 100% of Flagship assets support and promote at least one sustainable consumption initiative by 2022
- €20 Mn of social value generated through community oriented programmes in 2021
- 100% of Flagship assets to support local entrepreneurship through commercial partnerships and regional networks from 2020 onwards
- 1,000 people to integrate a job or a qualifying training certification through the URW for Jobs programme from 2020 onwards
- 100% of Flagship assets to support at least one local charity or NGO-sponsored long-term project (>two years) by 2022
- Collaborate with tenants to increase transparency of brands on health and sustainability, and to expand healthy and sustainable alternatives in 100% of Flagship assets by 2025
- 100% of Flagship assets support and promote at least one sustainable consumption initiative by 2022
(1) Despite strong engagement towards local entrepreneurs and small businesses throughout the year to help them maintain their activities or grow, the activity restrictions in several countries prevented the Group from achieving its target.
(2) Several shopping centres did not conduct URW for Jobs in 2020 and 2021 due to the COVID-19 pandemic (closures and cancelled job events in line with governmental health and safety restrictions).
The Group pursued the integration of sustainable brands (brands integrating sustainability as heart of their processes and products) in its portfolio to enrich its alternative sustainable offer. In parallel, concrete discussions with retailers were undertaken on their sustainability policies, for the Group to engage and support their efforts when relevant.
- 100% of Group employees with yearly individual CSR objectives from 2020 onwards
- Achieve a 60/40 gender balance by 2025 in senior management roles
- Improve employee engagement on Diversity and Inclusion
- Develop and roll-out Groupwide leadership and management programmes integrating CSR by 2022
- 100% of Group employees to have participated in CSR training by 2022
- 100% of Group employees take part in the URW Volunteering Programme annually from 2020 onwards
- 100% of our countries to implement Work Greener and employee Well-being programmes from 2020 onwards
- 100% of Group employees with yearly individual CSR objectives from 2020 onwards
- Achieve a 60/40 gender balance by 2025 in senior management roles
- Improve employee engagement on Diversity and Inclusion
- Develop and roll-out Groupwide leadership and management programmes integrating CSR by 2022
- 100% of Group employees to have participated in CSR training by 2022
- 100% of Group employees take part in the URW Volunteering Programme annually from 2020 onwards
- 100% of our countries to implement Work Greener and employee Well-being programmes from 2020 onwards
(1) 1% of employees were unable to set a CSR objective in time before the end of the performance assessment period.
(2) The COVID-19 crisis and associated closures and lockdown periods prevented the Group from reaching its objective. At the end of 2021, the Group’s employees contributed more than 7,096 volunteering hours. With teams working remotely, the assets demonstrated new ways to support their communities, fighting and preventing the spread of the virus, strengthening local cohesion and protecting the most vulnerable.
ESG indices, ratings and awards
Unibail-Rodamco-Westfield is constantly recognised for its sustainability and performance. Our ESG performance is regularly assessed by analysts, researchers, investors and third-party certification bodies that rank us as one of the most sustainable companies in the industry.
CDP Climate Change A List
URW was highlighted as a global leader on corporate climate action by global environmental impact non-profit CDP achieving a place on the CDP Climate Change A List (score on a scale of A to D-) in 2021 for the fourth year in a row(1)
(1) Click here
CDP Supplier Engagement Leaderboard
In 2021, URW was again identified as a global leader for engaging with its suppliers on climate change, being awarded a position on the 2021 Supplier Engagement Leaderboard by global environmental impact non-profit Carbon Disclosure Project (CDP). URW was recognised to be among the top 8% of organisations assessed by the CDP.
MCSI ESG ratings
In 2021, and for the eighth year in a row, URW obtained the highest rating of AAA (on a scale of AAA to CCC) in the MSCI ESG ratings assessment.
More information on MCSI ESG ratings, ratings and awards here
ISS ESG Corporate rating
URW reconfirmed its B rating in September 2021 and received again the Prime status awarded to companies with an ESG performance above the sector-specific Prime threshold. URW also conserved its leader position in the 1st decile rank comparing its performance relatively to its industry peers.
Sustainalytics
In May 2021, URW received an ESG Risk Rating of 4.7 and was assessed by Sustainalytics to be at Negligible risk of experiencing material financial impacts from ESG factors. URW’s ESG Risk Rating by Sustainalytics places the Group at the 1st rank and in the 1st percentile of the Real Estate Industry group assessed by Sustainalytics, as well as at the 3rd rank in the global rated universe (13,000+ companies). URW’s management score of ESG issues assessed by Sustainalytics is strong (81.9/100).
More information on Sustainalytics here.
V.E (formerly Vigeo Eiris)
In 2021, URW was rated 68/100 for its global ESG performance, positioning the Group at an advanced performance level, and ranked 2nd in its sector (Financial Services – Real Estate).
Standard Ethics
URW is rated EEE- ‘Excellent’ grade (on a scale of EEE to F) by Standard Ethics, an independent sustainability rating agency aiming to promote sustainability and governance standard principles from the European Union, the Organisation for Economic Co-operation and Development (“OECD”) and the United Nations (rating issued in 2019).
GRESB (Global Real Estate Sustainability Benchmark)
In 2020, the Group received a ‘5 Star’ rating for the 10th year in a row, which recognises entities with the highest performance levels in the GRESB benchmark. URW ranked:
- Second among all listed European retail real estate companies in the standing investment benchmark; and third among all listed retail real estate companies in the same benchmark;
- First among all 605 European companies rated by GRESB for its Management score; and
- Global Listed Development Sector Leader for Diversified – Office/ Retail portfolios among real estate companies worldwide in the development benchmark.
In 2021, the Group exceptionally paused its participation in the GRESB assessment due to the impact of the COVID-19 health crisis, affecting both the representativity and comparability of the 2020 data(2).
More information on GRESB here
(2) Click here
Euronext Vigeo indices
In November 2021, the Group was reconfirmed in the World 120, Europe 120, Eurozone 120 and France 20 Euronext Vigeo indices (since 2013)”.
FTSE4Good Index series
The June 2022 Index Review reconfirmed Unibail-Rodamco-Westfield as a member of the FTSE4GOOD Index Series (since 2005).
Solactive Corporate Social Responsibility Indices
URW has been confirmed as part of the Solactive Europe Corporate Social Responsibility Index and the Solactive Global Corporate Social Responsibility Index (formerly the Ethibel Sustainability Index Excellence Europe and the Ethibel Sustainability Index Excellence Global of which URW is part since 2011)
ECPI Indices (since 2007)
In December 2021, Unibail-Rodamco-Westfield was confirmed for inclusion in the following ECPI® indices: ECPI World ESG Equity, ECPI Euro ESG Equity, ECPI EMU Ethical Equity, and ECPI Global ESG Gender Equality Index
EPRA Gold Award
The EPRA (European Public Real Estate Association) has developed its Best Practices Recommendations on Sustainability Reporting (sBPR). For the tenth time in a row, Unibail-Rodamco-Westfield received the EPRA Gold Award in 2021 for completing its 2020 reporting in accordance with the EPRA Sustainability BPR.