We embarked on our structured path to sustainability in 2010, driven by our cooperative background, but also by the belief that the adoption of social responsibility criteria in the shopping center sector would have helped us in pursuing long-term growth. We were also guided by other factors, such as the desire to meet the expectations of our stakeholders with respect to sustainability
IGD’s sustainability strategy has been an integral part of corporate business planning since the 2014-20016 Business Plan. With the new 2022-2024 Business Plan, approved by the Board of Directors on 14th December 2021, sustainability planning has been included in the operational fields of activities.
We used a structured approach to define the part of the Business Plan relating to sustainability which also called for, among other things, an analysis of the Sustainable Development Goals (SDGs) and what we need to do to achieve 9 out of the 17 sustainable goals for the millennium defined by the United Nations.
As of 2017 IGD’s sustainability strategy is summarized in «Becoming G.r.e.a.t.», which testifies to the company’s commitment to sustainable growth which focuses on environmental issues (Green), on people (Responsible), on being ethical (Ethical), in attractive places (Attractive), together with its stakeholders (Together).
In this plan IGD decided to set targets for 2024 and long-term goals through 2030.
The impact of the Covid 19 pandemic, which affected both Italy and Romania starting from the months of February/March 2020, was also highly significant in 2021. This situation also directly influenced the sustainability strategy. More specifically:
Testimony to our commitment to improving the environmental performance of each center, we are striving to obtain BREEAM certification for our assets: the target included in the Plan is to obtain BREEAM IN USE certification for 9 more centers (in addition to the 8 that have already been certified). Biodiversity projects are also going to be launched in 4 shopping centers and 100% of the Italian portfolio will be equipped with charging stations for electric cars.
The 2030 Goals include zero carbon emissions (scope 1 and 2) and BREEAM certifications for 100% of the Italian portfolio’s shopping centers.
Results achieved in 2021
€1.2 million were invested to improve energy efficiency in the structures in Italy and €620k in Romania.
Reporting on scope 3 was begun.
Electric consumptio: -14% vs 2019 in the months without restrictions (Jun.-Dec. 2021 vs Jun.-Dec. 2019).
The roll out plan for the installation of EV charging stations was concluded. There are now 20 Shopping Centers with this type of charging stations and 35 charging stations installed.
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Moreover the company will try to obtain Biosafety Trust Certification for 100% of the shopping centers.
The 2030 Goals relate to achieving gender equality in roles of responsibility and improving the expertise, along with the wellbeing, of employees.
Results achieved in 2021
Training activities regarding soft skills for corporare directors and managerial staff were carried out.
Concerning Covid policies regarding employees, a smart working agreement was signed and employees were given the possibility to receive their vaccination with the creation of a hub in agreement with the National Health Service, so as to accelerate the vaccination process.
Bio Safety Certification obtained for 7 shopping centers the as well as headquarters.
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The Company also intends to maintain the highest legality rating possible and the UNI ISO 37001 certification.
By 2030 IGD aims to have implemented all the available controls needed to guarantee privacy and cybersecurity and to have become a best-in-class company in terms of corporate governance and legality.
Results achieved in 2021
The Top Management’s variable compensation was anchored to performance targets regarding ESG issues.
Awards to IGD Governance from proxy advisors such as ISS Qualityscore and Integrated Governance Index.
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IGD will strive to ensure that its properties truly reflect the pay-off “Spaces to be lived in”. Over the next three years, IGD’s target is to have completed restyling/remodeling of 4 shopping centers, improving energy efficiency and organizing one targeted social or environmental initiative each year in 100% of the shopping centers.
As for social aspects and the relationship with the local community, we are driven by the conviction that the shopping center should increasingly be a regional point of reference and an integral part of the local community.
The 2030 Goal is to complete restyling focused on improving the environmental impact of 10 more shopping centers and define initiatives designed to improve the wellbeing of visitors in 100% of the shopping centers.
Results achieved in 2021
2 vaccination hubs were creaed in 2 freehold Shopping Centers, with over 400,000 people being vaccinated since they were opened.
Scouting activities continued with the introduction of 34 new tenants in the Italian Shopping Malls.
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Over the next three years, IGD wants to finalize the Sustainability Linked Financing Framework and proceed with the first issue of this sort.
The 2030 Goals include working closer with tenants on the environmental management of the assets and involve them in initiatives designed to reduce “scope 3” emissions.
Results achieved in 2021
Structured engagement was carried out with all stakeholders in order to understand their expectations.
Engagement activities were carried out with more than 17,000 Shopping Centers visitors and non visitors and 5,000 students between the age of 12 and 19.
Cooperation with 201 local associations and NPOs was maintained.
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