Better Spaces

Our goal

• Cut carbon emissions across our value chain by 50% by 2030¹

Our key achievements:

• -51.5% in our value chain, exceptionally impacted by the Covid-19 crisis
• Group climate targets recognised by the Science Based Targets initiative (aligned with 1.5°C trajectory)
• We are the first to have included scope 3 emissions
• 95% of the electricity consumption of our retail assets comes from renewable energy sources in 2020
• 79% of URW standing assets equipped with EV charging spaces
• 15.45 MW of renewable energy installed capacity on our assets (x11.3 vs 2015)²
• -50,1% in carbon from operations between 2015 and 2020³
• -16% in energy intensity between 2015 and 2020⁴

Reducing our footprint

Creating and operating better spaces means designing sustainable buildings, in terms of carbon footprint, energy efficiency, circular economy and biodiversity.

We work with architects, engineers, construction and operating partners to ensure we are at the forefront of industry standards. We collaborate with our tenants and contractors with the aim of reducing emissions from operations by 80% by 2030.

Better spaces goes beyond buildings. It also means improving connectivity and advancing sustainable modes of transportation.

Reducing the carbon footprint of our visitors’ transport is a priority, and we have implemented ambitious mobility action plans to conduct an exhaustive diagnosis by asset and define clear actions for improvement.

Our ambitious carbon reduction targets were approved by the Science Based Targets initiative (SBTi); we secured a 5 Star rating for the tenth year in a row from GRESB, the global ESG benchmark for real assets; and we were recognised as a global leader on Environmental, Social and Corporate Governance (ESG) by the ISS (the Institutional Shareholder Services).

To find out more about our achievements over the year, see our CSR stories in Section 6.

¹ All reduction targets in this section are based on comparisons with 2015 levels.

² Renewable energy production capacity installed directly on our assets, such as solar panels

³ (in kgCO2eq/m² GFA) FY2020 results have been impacted by the exceptional closures due to the Covid-19 pandemic

⁴ (in KWh/sqm) FY2020 results have been impacted by the exceptional closures due to the Covid-19 pandemic