SustainabilityPerformance & Objectives
Unibail-Rodamco uses a variety of tools, processes and indicators to monitor the performance of the assets that it owns and manages. They serve to structure the Group's environmental management approach, track results, and inform third-parties about performance.
Ambitious long-term targets : a clear vision and objectives through to 2020
Each year, the Group reviews its sustainability performance and identifies areas where it can make further improvements. The results of this analysis are used to set challenging operational and strategic objectives which reflect the Group's priorities and responsibilities, inform its actions, and drive continued progress.
In 2012, the Group has decided to reconcentrate its efforts and resources on the subjects that count based on the materiality survey performed, revealing a list of top priorities. As a consequence the Group has reviewed and aligned its sustainability long-term targets according to these top material issues in order to be more consistent with the Group’s long term vision for value creation cycle. However the Group will continue to adress and manage internal targets for each operational core function (such as waste, water, biodiversity, bribery and corruption, land pollution, sustainable procurement…).
Unibail-Rodamco’s new sustainability journey is structured around the conclusions of the materiality survey, revealing a number of business benefits and objectives in four strategic domains:
1. Employees: "A motivated workforce empowered to deliver change"
2. Community well-being & Local economic development: "Creating opportunities for communities to prosper"
3. Customers & Tenants: "Unlock opportunities for tenants & customers to make sustainable decisions"
4. Product labeling, Energy & Carbon, Connectivity & Transport: "Building resilience through innovation"
These sustainability objectives are reviewed, validated and endorsed by the Management Board.
Main environmental long-term targets :
The Group’s ambitions have been reviewed to redefine the relevant targets from 2012 (new baseline):
- Energy and carbon: Reduce carbon intensity (CO2/visit) at managed shopping centres by 30% in 2020, relative to 2012
- Product labeling: Obtain a BREEAM In-Use certification for at least 80% of the retail portfolio’s consolidated GLA with a minimum of ‘Very Good’ for ‘building’ and ‘management’ scores by 2016
- Tenants: Exceed 90% of green leases for the total retail and office portfolio by 2016
- Community well-being: Cooperate with local authorities to launch specific environmental or social initiatives in each managed shopping centre by 2016
- Local economic development: Develop a methodology to measure the economic and social impact of the Group’s assets
- Employees: deploy new actions to develop women’s leadership across the Group
See Annual and sustainable development report 2014 page 125
Environmental Key Performance Indicators (KPIs) covering climate change and resource use are tracked for all of Unibail-Rodamco's managed assets. Each region is responsible for collecting, checking and consolidating the data for its assets. At the corporate level, data is consolidated, analyzed, validated and reported. Data is reported quarterly for energy consumption and CO2 emissions, and annually for water, waste and transport, as well as for supporting data such as CO2 conversion factors. The Group’s Annual and sustainable development report discloses all KPIs together with their annual and cumulative changes by business segment (shopping centres, office buildings and convention & exhibition venues), and by region.
This structured approach has helped Unibail-Rodamco to realize significant performance improvements in recent years. Between 2012 and 2014, in managed shopping centres, Unibail-Rodamco achieved :
In 2009, Unibail-Rodamco started to commission a third-party audit for its environmental data with the carbon intensity indicator. The Group has extended the scope of external verification through the years. Since 2012, and according to the Article 225 requirements (French Grenelle law), Ernst & Young has performed an in-depth review of the Group’s disclosures regarding the Article’s 42 items and 32 key performance indicators (see assurance statement page 145-147). This verification included a detailed on-site review of 5 of the Group’s largest assets.