Better Places 2030 builds on the United Nations Sustainable Developpement Goals. With our Sustainability 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.
The requirement for the integration of circular economy design solutions in the development projects has been added in the Group Sustainability Brief in 2020 and will be closely monitored through a dedicated assessment tool.
The requirement for the study of climate risks faced by development projects has been added in the Group sustainability brief in 2020 and will be closely monitored through a dedicated assessment tool.
(1) Total operated area.
Based on the Group risk assessment of long-term climate change risks delivered in 2019, the Group will work on adaptation plans for its standing assets.
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.
(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.
(1) 1% of employees were unable to set a Sustainability objective in time before the end of the performance assessment period.
A new Group Employee Pulse Survey was rolled out, with 64% of respondents strongly stating that URW is committed to Diversity and Inclusion. The survey will be rolled out each year.
In 2021, dedicated Climate Change Training was delivered for Executive Committee members, and a Sustainability-driven project was integrated into URW’s High Potential programme for future leaders.
(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 2022 for the fourth year in a row(1)
More information on CDP here
(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.
In 2022, and for the nineth year in a row, URW obtained the highest rating of AAA (on a scale of AAA to CCC) in the MSCI ESG ratings assessment.
In December 2022, MSCI confirmed the presence of URW in the following ESG indices: MSCI Global Green Building, MSCI World ESG Leaders, MSCI Europe ESG Leaders, MSCI France ESG Universal, and MSCI World Low Carbon leaders.
More information on MCSI ESG ratings, ratings and awards here
ISS ESG Corporate rating
URW reconfirmed its B rating in September 2022 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.
More information on ISS ESG here.
In October 2022, 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 2nd rank and in the 1st percentile of the Real Estate Industry group assessed by Sustainalytics, as well as at the 7th rank in the global rated universe (15,000+ companies). URW’s management score of ESG issues assessed by Sustainalytics is strong (81.9/100).
More information on Sustainalytics here.
Moody’s ESG Solutions (formerly V.E)
In 2022, URW was rated 67/100 for its global ESG performance, positioning the Group at an advanced performance level, and ranked 3rd in its sector (Financial Services – Real Estate).
More information on V.E here
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.
More information on GRESB here
In 2022, the Group received a ‘5 Star’ rating, which recognises entities with the highest performance levels in the GRESB benchmark. URW ranked among the top 20 rated entities worldwide
Euronext ESG Indices
In November 2022, the Group was reconfirmed in the World 120, Europe 120, Eurozone 120 and France 120 Euronext Vigeo indices (since 2013). It is also a component of the following ESG indices: CAC 40 ESG, Euronext CDP Environment ESG Eurozone, Euronext Green Planet France, Euronext Equileap Gender Equality Eurozone 100.
For further information on the inclusion of URW in Euronext’s ESG indices, please consult the following link.
FTSE4Good Index series
The June 2022 Index Review reconfirmed Unibail-Rodamco-Westfield as a member of the FTSE4GOOD Index Series (since 2005).
More information on FTSE4Good here
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 2022, Unibail-Rodamco-Westfield was confirmed for inclusion in the following ECPI® indices: ECPI EMU Ethical Price Index, ECPI Euro ESG Index, ECPI Global ESG Gender Equality Index, ECPI World ESG Index
More information on ECPI here
EPRA Gold Award
The EPRA (European Public Real Estate Association) has developed its Best Practices Recommendations on Sustainability Reporting (sBPR). For the eleventh time in a row, Unibail-Rodamco-Westfield received the EPRA Gold Award in 2022 for completing its 2021 reporting in accordance with the EPRA Sustainability.