2022 Sustainability Report

The Board of Directors approved the Corporate Sustainability Report 2022 which was subject to Limited Assurance by PricewaterhouseCoopers which certified compliance with the most important international standards (the GRI Standards).

During the year the company worked to achieve the targets set in the 2022-2024 plan, as well as on defining the new material issues (consistent with the updates of the Global Reporting Initiative (GRI)).

The main results achieved in 2022 can be summarized as follows:

• Green: invested a total of €2.4 million in improving the energy efficiency of the buildings in Italy and €600,000 in Romania; obtained Breeam In Use certifications for 2 more assets: ten assets ( 64% of the Italian portfolio) are now certified; lowered energy consumption and emissions thanks to both the investments made over time and the careful attention paid to monitoring energy costs, which rose considerably in the year; installed one solar energy system at the Ploiesti Shopping Center in Romania; furthered the commitment to a more circular economy by increasing the rate of waste recycling by 5 p.p. (from 75 to 80%) and the opening of the second project AND store; installed more electric recharging stations:  there are now 74 installed at 21 IGD shopping centers (equal to 80% of the Italian portfolio);

 

• Responsible: investment in training employees increased considerably with a focus on both soft and IT skills; 85% of the employees participated in the third workplace environment survey and identified strengths, as well as a few areas in need of improvement for which specific solutions were defined; focus on employee wellbeing through the continued use of the Wellness Plan (utilized by 100% of the employees) and by defining new employee benefits; obtained Bio Safety Certification for all freehold assets, as well as for the headquarters, in order to prevent and minimize the spread of infections in people caused by biological agents.

 

• Ethical: introduced a medium-term ESG target for company managers; renewed the legality rating for the fourth time, confirming the highest score (3 stars, obtained by only 8% of the rated companies); organized specific induction activities with the Board of Directors relating to corporate sustainability.

 

• Attractive: inaugurated the restyled La Favorita Shopping Center (Mantua) with new green zones, pedestrian “piazzas” and new, highly energy efficient, LED lighting; introduced 35 new brands in order to adjust the merchandising and tenant mix (the highest number seen in the last 5 years). Marketing activities resumed with the organization of a total of 531 events (in line with 2018), including a growing number focused on socio-environmental issues and leveraging on the possibilities offered by the Digital Plan.

 

• Together: defined the Green Financing Framework; obtained a €215 million green loan associated with an Eligible Green Project, in the Green Building category. Promoted structured involvement of all the stakeholders in order to understand their expectations: asked more than 5,000 people in 8 shopping centers about their level of satisfaction; organized more than 1,300 meetings, in person and online, with more than 700 retailers. Strengthened the social interaction with the community: local events once again represent approximately one third of the events organized and involvement with local associations was promoted in almost all the shopping centers.

 

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