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Unibail-Rodamco-Westfield is the first real estate company globally to validate nature-related targets using the Science Based Targets Network (SBTN) methodology, achieving a major milestone in our Better Places sustainability roadmap.
The validated nature-related target(1) aims at reducing water consumption across assets located in Spain, a region facing significant water stress. It was developed with the support of WWF France, building on the long-term strategic partnership between the Group and the NGO.
As part of the SBTN’s process, we completed a materiality assessment and prioritisation of our impacts on nature across all of our activities globally. This assessment enabled us to validate Steps 1 and 2 of the SBTN methodology(2) with the Accountability Accelerator, confirming the material pressures on biodiversity and building a science-based foundation for the Group’s long-term nature strategy.
Sylvain Montcouquiol, Chief Resources and Sustainability Officer, URW, said: “After becoming the first European commercial real estate company to have its net-zero targets validated by the SBTi, URW is taking another major step forward with the validation of its nature-related targets by the SBTN. This recognition is fully aligned with the long-term trajectory of our Better Places roadmap, which has been guiding the transformation of our activities for more than 15 years. By becoming the first real estate company to have a nature target validated through the SBTN process, in partnership with WWF France, we are strengthening a rigorous, science-driven approach that limits biodiversity loss and supports the resilience of our assets and communities.”
Erin Billman, CEO, Science Based Targets Network, said: “URW’s validation through the SBTN process shows how science-based targets for nature help companies move from understanding their impacts to taking credible, science-based action. By identifying its most material pressures on nature and setting its first validated freshwater target, URW is establishing a strong foundation to support long-term resilience and meaningful biodiversity outcomes over time.”
This milestone further strengthens our existing commitments to biodiversity and water management, including renaturation projects being implemented across our standing portfolio by 2030, our biodiversity net gain target for all new development projects and our commitment to water reuse solutions for assets located in water-stressed areas.
These commitments form part of the Group’s Better Places sustainability roadmap and complement its net-zero targets for 2030 (Scopes 1 and 2) and 2050 (Scopes 1, 2 and 3), validated by the Science Based Targets initiative (SBTi). Together, the SBTi and SBTN frameworks constitute a comprehensive, science-based approach to climate- and nature-related issues, positioning URW among the most ambitious companies across the full spectrum of environmental challenges.
URW is the first company worldwide to openly publish the results of its nature-related materiality assessment, in parallel with the validation of its science-based targets, underscoring its pioneering role and strong commitment to transparency.
(1) Find URW's freshwater target on the SBTN target tracker
(2) Using SBTN’s technical guidance for Steps 1 & 2 (v1.1). For more information, please visit https://sciencebasedtargetsnetwork.org
