Sustainability report archive

2024

may 2024

21 May 2024 9:23

Sustainability report

2023 Sustainability Report

The Board of Directors approved the Corporate Sustainability Report 2023 which was subject to Limited Assurance by Deloitte & Touche which certified compliance with the most important international standards (the GRI Standards). The main results obtained in 2023, consistent with the planning and targets to 2024, are summarized below. The achievement rate is estimated to […]

The Board of Directors approved the Corporate Sustainability Report 2023 which was subject to Limited Assurance by Deloitte & Touche which certified compliance with the most important international standards (the GRI Standards).

The main results obtained in 2023, consistent with the planning and targets to 2024, are summarized below. The achievement rate is estimated to have reached 68.8%.

Green: invested €3.9 million to decrease the portfolio’s environmental footprint, approximately 75% of which was invested in systems in order to improve the energy efficiency of buildings. More in detail:

completed the first phase of the ESP Center’s innovative emission reduction project;
installed 4 new solar energy systems, including 1 in Italy (La Favorita, Mantua active as from 2024) and 3 in Romania (Tulcea, Piatra Neamt and Ramnicu Valcea), where the Ploiești system, built in 2022, also became operational;
installed new energy consumption meters, including those based on artificial intelligence, which can decrease intervention time in the event of deviations from consumption estimates;
continued to invest in lighting systems, completing the installation of led technology lighting at the Portogrande Shopping Center (as part of the restyling) and at Katanè in Catania. Led lighting was also installed in Officine Storiche’s new retail section;
continued to work on “Zero waste” with a view to further increasing the waste recycling rate (which has reached 89%) and the inauguration of the innovative circular economy project “Waste 2 Value” at the Nova Center in Bologna;
continued with the installation of electric charging stations: a total of 122 charging stations have been installed in 22 IGD Shopping Centers or 85% of the Italian portfolio.

Responsible

launched the “People Project,” an initiative directed at identifying processes and tools for human resource management in order to support corporate strategies which foster employees’ professional growth paths;
provided training to all employees, in both Italy and Romania;
continued with the Corporate Wellbeing Project, with 99% of eligible participants getting involved and new benefits/services added to the platform;
took the steps needed to renew the Biosafety certification at 100% of the assets included in the Italian shopping center portfolio, in addition to headquarters.

Ethical

adopted the “Group Enterprise Risk Management Policy” and defined new ways to manage the ERM model
carried out first phase of the integration of the risks monitored through the ERM system and ESG risks
consistent with European best practices, defined the “Responsible Supply Chain Policy”
obtained three-year renewal of UNI ISO37001 anti-corruption certification
defined specific cybersecurity measures aimed at protecting corporate networks and preventing possible cyber-attacks.

Attractive

new assets, like Officine Storiche, and restyling characterized by a focus on social and environmental impact;
added 22 new brands in Italy as a result of scouting activities carried out during the year;
growth in the number of in-person events compared to 2022, with a significant increase in the number of socio-environmental activities as a percentage of the total number of organized mall events.

Together

Green finance: obtained the second green bank loan (for €250 million)
organized more than 1,100 meetings, in-person or online, with more than 700 retailers
involved about 1,600 people in 5 shopping center satisfaction surveys
strengthened regional interaction: organized engagement initiatives with the communities in 96% of the Italian shopping centers and 37% of the events organized focused on the local initiatives (highest amount in the last 10 years).

2023

march 2023

24 March 2023 19:22

Sustainability report

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 […]

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.

2022

march 2022

16 March 2022 15:37

Sustainability report

2021 Sustainability Report

The Board of Directors approved the Corporate Sustainability Report 2021 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 2019-2021 plan, as well as on defining the content of the new […]

The Board of Directors approved the Corporate Sustainability Report 2021 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 2019-2021 plan, as well as on defining the content of the new sustainability plan included, as has been the case since 2014, in the Business Plan. The extent to which the targets of the three-year plan, which was impacted by the healthcare situation that made certain investments obligatory while also reducing the aggregational capacity of the shopping centers, is reported on in the CSR.

The main results in 2021 can be summarized as follows:

Green: invested €1.2 million in improving the energy efficiency of the buildings in Italy and €620,000 in Romania; for the first year completed Scope 3 reporting which relates to the company’s indirect environmental impact, in order to proceed with the definition of the science based targets in 2022; renewed the Breeam In Use certifications of 2 assets for which the valuations improved; maintained energy consumption significantly lower than in 2019, including during the months not subject to restrictions on hours of operation; completed the roll out for the installation of 22 kw charging stations. 20 shopping centers now have this type of charging station and a total of 35 charging stations have been installed; worked on mobility related initiatives: the bike path to reach the Clodì Retail Park was completed and bus stops were placed near the Katanè Shopping Center.
Responsible: number of employees stable; investment in training increased (focus on soft and digital skills); agreement signed for smart working and, to accelerate vaccinations, provided employees with the opportunity to get vaccinations at a hub affiliated with the national healthcare system; 100% of the employees took advantage of the corporate wellness program; obtained Bio Safety Certification for 7 shopping centers, as well as for the headquarters, in order to prevent and minimize the spread of infections in people caused by biological agents, particularly those related to Covid-19.
Ethical: introduced an ESG target for company managers; carried out an audit of and modified the procedures for ISO37001 certification; received recognition from ISS Governance Qualityscore (highest score possible) and Integrated Governance Index.
Attractive: two vaccine hubs set up in two shopping centers where more than 400,000 people have been vaccinated since the opening; continued to scout for new brands, with the introduction of 34 new tenants in the Italian shopping malls. Also introduced the first medical center in an IGD shopping center; while reduced, marketing resumed with a focus on experience, omnichannelism and loyalty. There was in increase in the social-environmental and local initiatives; the Digital Plan was developed, which integrated existing digital tools with the new ones created during the year in order to provide the shopper with the ability to be in touch with the shopping center both digitally and in person throughout the customer journey.
Together: structured involvement of all the stakeholders in order to understand their expectations; carried out activities involving around 17,000 visitors both in and not in the shopping malls, as well as 5,000 students between the age of 12 and 19 in partnership with Nomisma; maintained some form of partnership with 201 local associations and non-profit organizations; the more than 16,600 jobs offered, the partnerships with 820 local providers and the fact that 40% of the brands present in the malls are local, confirmed IGD’s social role within the community.

2021

march 2021

4 March 2021 9:28

Sustainability report

2020 Sustainability Report

The Board of Directors of 25 February 2021 approved the Corporate Sustainability Report which was subject to Limited Assurance by PricewaterhouseCoopers which certified compliance with the most important international standards (the GRI Standards).

The report approved takes into account the impact that the Covid-19 pandemic had on both the strategy and the performance. If overall the strategy is unchanged, partial adjustments were made to its 3 pillars: the material topics, specific sustainability risks, and the short/medium-term targets. Furthermore, due to the restrictions put into place by the authorities, which impacted the shopping centers’ operations, the indicators used to measure sustainability performance in 2020 are, sometimes, hard to compare with prior years.

In 2020 IGD formalized its adhesion to the United Nations’ Global Compact, the world’s largest corporate sustainability initiative. For this reason, as of the 2020 Corporate Sustainability Report the policies and performances geared to support the Ten Principles of the Global Compact relating to Human Rights, Labor, Environment and Anti-Corruption are also reported on. In the report IGD also addresses the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) with regard, specifically, to climate change and related risks.

As of 2017 IGD’s sustainability strategy is summarized in «Becoming Great», which testifies to the Company’s commitment to growth that focuses on the environment (Green), people (Responsible), ethics (Ethical), attractive locations (Attractive), together with its stakeholders (Together). The same titles are also the names of the chapters in the CSR which reports on the company’s performance during the year:

Green: invested €1.2 million in improving the energy efficiency of the structures, including the costs for the relamping of a shopping center (a total of 19 centers are now equipped with LED lighting); BREEAM IN USE certification for 3 more key assets (Conè in Conegliano-Treviso, Leonardo in Imola-Bologna and Le Porte di Napoli in Afragola-Naples) for a total of 8 certified shopping centers; reached the goal to obtain UNI EN ISO 14001 environmental certification for 95% of the freehold malls (24 centers are certified, in addition to the headquarters); used renewable energy exclusively since 2017; installed 19 charging stations for electric cars in 10 shopping centers (34 had been installed at 17 shopping centers at the end of 2020).
Responsible: number of employees stable; specific measures implemented to prevent the spread of the virus inside the shopping centers (for a total cash-out of around €1.3 million), as well as ensure that employees could work safely; the Corporate Welfare Plan was confirmed for the fourth year, with the participation of 98% of the employees; training activities for all employees continued.
Ethical: UNI ISO 37001 certification (“Anti Bribery Management System”), the key international standard for anti bribery management systems. The same certification was also obtained in Romania in 2018. The legality rating was renewed with the highest score (3 stars); the Decree 231/2001 Organizational, Management and Control Model was updated in order to include the new crimes, as well as incorporate the Anti Bribery Management System; the structure and content of the Code of Conduct was revised in order to reflect new company policies and procedures, as well as comply with the law and regulations.
Attractive: scouting for new brands continued, resulting in the introduction of 18 new tenants in the Italian shopping malls; the marketing strategy was modified to reflect the continuous changes stemming from the development and spread of the pandemic in order to maintain contact with the community and spotlight promotions; a communication campaign was launched focused on reassuring visitors about shopping center safety and post lockdown supply; IGD’s first digital plan was defined which, beginning in 2021, will strive to systemize existing online tools and identify others in order to use the web to increase contact with visitors, as effectively as possible.
Together: structured involvement of the stakeholders was carried out in order to understand their expectations, especially in a complex year like 2020; collaboration with 140 local associations and nonprofit organizations, even though it was impossible to organize meetings and gatherings; the 16,600 jobs offered, the partnerships with 882 local providers and the fact that 42% of the brands present in the malls are local, confirmed IGD’s social role within the community.

2020

march 2020

25 March 2020 16:00

Sustainability report

2019 Sustainability report

The Board of Directors held on 27 February 2020 also approved the Corporate Sustainability Report which was subject to Limited Assurance by PricewaterhouseCoopers which certified compliance with the most important international standards (the GRI Standards).

The report provides a better look at the sustainability strategy, particularly with regard to its three pillars: the material topics, specific sustainability risks, and the short/medium-term targets. With regard specifically to climate change and related risks, in 2019 IGD decided to address the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) in the CSR.

In 2017 the Company launched the strategy «Becoming Great», which summarizes the company’s commitment to growth that is «Green, Responsible, Ethical, Attractive, Together». The performances of the company during the year described in the CSR are divided into chapters based on these categories:

Green: reduced consumption of electricity by 7.1%, thanks also to the solar panels installed (active in 7 shopping centers) and the use of LED lighting (found in 19 shopping centers); BREEAM IN USE certification for 2 more key assets (Esp in Ravenna and Puntadiferro in Forlì) for a total of 5 certified shopping centers; continued with the UNI EN ISO 14001 environmental certification process (20 centers are certified, in addition to the headquarters or 88% of IGD’s portfolio); the use exclusively, as of 2017, of renewable energy; support of sustainable mobility with the installation of 10 charging stations for electric cars in 5 shopping centers (and will reach 32 in 18 shopping centers by the end of 2020) and a solar powered charging station for electric bicycles at the Clodì Retail Park.
Responsible: number of employees increased 3.1% with the introduction of a new role, Digital Strategist; the third year of the Corporate Welfare Plan, with the participation of all employees; continued implementation of voluntary measures at shopping centers focused on shopping center safety involving earthquake proofing and the installation of anti-intrusion bollards in Italy and fire proofing in Romania.
Ethical: after receiving UNI ISO 37001 anticorruption certification in Romania, the process for obtaining the same certification in Italy was begun; a «whistleblowing» procedure was adopted; the Compensation Policy was updated.
Attractive: restyling was completed at Centro Casilino in Rome, Fonti del Corallo in Livorno and Gran Rondò in Crema (CR) which focused on increasing the appeal of the structures and the sustainability of the buildings; 716 free events were organized in the year for a total investment by the shopping centers of €3.8 million; further work was done on the innovation project with the systematic use of Instagram and the introduction of Amazon Lockers in 21 shopping centers.
Together: the “Social Borgo” project was launched at Centro Borgo in Bologna in order to understand and respond to local needs by working together as a team within the shopping center; the more than 16,600 jobs offered, the partnerships with approximately 895 local suppliers, the fact that local brands account for 43% of the brands found in the malls and the involvement of 367 local associations all confirm IGD’s social role within the community.

2019

february 2019

26 February 2019 17:33

Sustainability report sustainability

Sustainability report 2018

The Board of Directors approved the Corporate Sustainability Report together with the Annual Report. As in 2017, the CSR approved was subject to Limited Assurance by PricewaterhouseCoopers which certified compliance with the most important international standards (the GRI Standards).

This report, which maintains the structure of the 2017 CSR, contains three additions:

Reporting on the extent the targets found in the 2016-2018 Plan have been achieved;
Specific reference to 10 (out of 17) UN Millennium Goals and reporting on the steps taken by IGD to achieve them;
Elements to be used to assess the impact of 3 sustainability projects.

The performances of the company during the year are reported in the different chapters of the CSR, organized based on the acronym G.R.E.A.T. (Green, Responsible, Ethical, Attractive, Together).

2018

february 2018

22 February 2018 13:15

Sustainability report

Sustainability report 2017

The Board of Directors approved the Corporate Sustainability Report (CSR) together with the Annual Report. The CSR, for the first time, received a certification from PricewaterhouseCoopers.

The Board of Directors approved the Corporate Sustainability Report (CSR) together with the Annual Report. The CSR, for the first time, received a certification from PricewaterhouseCoopers. The firm certified compliance with the most important international standards (the GRI Standards).

This report was prepared based on a new format which emerged following the revision of the materiality matrix. The 13 new material issues (namely issues which impact both the company and its stakeholders) were grouped together under the acronym GREAT, which testifies to IGD’s commitment to growing constantly with a view to being “Green, Responsible, Ethical, Attractive, Together”.

The performances achieved by the company during the year are reported in each chapter of the CSR Report, which follow this format:

2017

february 2017

28 February 2017 17:40

Sustainability report

Sustainability report 2016

For the first time, the Board of Directors approved the Corporate Sustainability Report together with the Annual Report.

For the first time, the Board of Directors approved the Corporate Sustainability Report together with the Annual Report. This change is testimony to the Board’s full commitment to integrating the economic-financial agenda with the socio-environmental one.

Four themes were confirmed as the foundation of the Group’s commitment:

Innovation: continuous updating of the structures (restyling and refurbishment), constant change in the tenant and merchandising mix (26 new brands introduced) and great focus on the innovative solutions offered in the malls, including as part of a multichannel approach (O2O, online to offline)
Community: the shopping center as both a place for shopping and a meeting place which impacts the local area (more than 14 thousand job opportunities created), as well as a continuous and updated roster of events; the corporate welfare plan for employees was approved
Environment: from 2011 through today energy consumption has fallen 13% thanks to targeted investments and more efficient management, linked also to UNI EN ISO 14001 environmental certification (roll out calling for the certification of 90% of the Italian malls by 2018); furthermore, beginning this year the electricity purchased by all the shopping centers in Italy will come solely from renewable sources
Legality: Legality Rating of three stars received from the Italian Competition Authority (“AGCM”), the maximum score awarded for this type of rating

2016

april 2016

7 April 2016 17:00

Sustainability report

Sustainability report 2015

The Board of Directors of IGD examined and for the first time formally approved the sixth sustainability report, for the financial year 2015.

The approval of the Sustainability Report by the BoD is a further indication of the Board’s full commitment and of the ever greater integration between economic and social-environmental rationale. This type of approach forms the basis of the 2015-2018 Business Plan, where sustainability represents one of the 4 cornerstones of IGD’s business.

The main news worth mentioning are:

Inauguration ot the first IGD structure equipped with a photovoltaic system (Clodì retail park, in Chioggia, Venice);
Good feedback and appreciation for “Happy Hand in tour”, an event focused on inclusion;
Strong focus on innovation with a specific project;
Obtained international awards regarding sustainability.

2015

april 2015

16 April 2015 13:00

Sustainability report

Sustainability report 2014

IGD published the fifth Corporate Sustainability Report for the year 2014.

This Report contains a description of all the topics that have a substantial impact on the business’s performance, as emerged during the materiality assessment that IGD carried out in 2014. Broken down into five sub-topics, these are now the priority areas of action for IGD in terms of sustainability.

Main news worth mentioning are:

The structure and organization of the Report changed: focus on “material” topics and business plan integration;
GRI-G4 standards and EPRA’s Best Practices Recommendations adopted;
Further positive results achieved in terms of energy consumption: -6.2% against 2014;
Great attention paid to innovation in order to provide visitors with new shopping experiences.

2014

april 2014

16 April 2014 10:00

Sustainability report

Sustainability report 2013

IGD announces the publication of the fourth edition of the Corporate Sustainability Report for 2013.

The journey leading to the inclusion of the concept of social responsibility in the 2014-2016 Business Plan was completed in 2013. The 2013 Corporate Sustainability Report summarizes the results achieved with respect to the three strategic priorities.

Increase in the quality and the efficiency of the shopping centers
Interpret the needs of a changing environment
Reinforcement of the concept “Spaces to be lived in”.

2013

april 2013

18 April 2013 13:00

Sustainability report

Sustainability report 2012

IGD announces the publication of the third edition of the Corporate Sustainability Report for 2012.

IGD, consistent with its commitments, has continued to be a serious, competent and reliable entity for its shopping centre visitors (almost 70 million in Italy and 34 in Romania) and for its over 1,000 tenants in its various portfolio properties. An entity that is committed to providing assurance to the 160 people that make up its workforce, a correct counterpart for its more than 1,300 suppliers, and lastly, a credible company for its long term shareholders and for the banks that have chosen to support its development with their capital and have confirmed their belief in the 2012-2015 Business Plan presented last October.

In 2012 we focused our attention in three specific directions: the environment, dialogue with our stakeholders, and lastly the strengthening of the sustainability governance structure in IGD.

2012

may 2012

29 May 2012 17:20

Sustainability report

Sustainability report 2011

IGD announces the publication of the second edition of the Corporate Sustainability Report for 2012.

IGD present IGD Group’s second Sustainability report for 2011. Despite a context that has been characterised by extreme unpredictability in the financial markets and by a deterioration in the economic situation which has had a profound effect on consumption patterns, IGD’s commitment to Sustainability has remained unaltered and, if possible, even more determined.

This second Sustainability Report also gives a detailed description of the efforts made in 2011 to improve our Governance, to control the impact on the Environment in which we operate and to interact effectively with our Stakeholders and, in addition, it describes the ensuing progress.

In each section we have accounted for which actions were carried out and to what extent the targets presented in the 2010 Sustainability Report were met and we have also defined our commitments for the 2012-2013 two year period.

2011

may 2011

5 May 2011 12:47

Sustainability report

Sustainability report 2010

IGD presents its first Sustainability report for 2010 with the aim of providing our endeavours with a method, a standard and precise targets.

Sustainability has always been an integral part of our way of conducting business. The roots of our culture lay deep within the grounds of cooperation, in those principles that have inspired IGD with a balanced business model and a long term growth strategy. This important legacy has made it somewhat natural for us to pay a great deal of attention to our stakeholders’ requests.