Sustainability efforts ramped up

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Friday 15 October 2021

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Our ESG and business strategies are carefully aligned and involve operating more efficiently, positively engaging with local stakeholders and being an attractive and responsible employer. During the last months we focussed our efforts and investments to meet our long term ESG commitments.

External recognition

Eurocommercial has achieved a Global Real Estate Sustainability Benchmark (GRESB) 4 Star Rating, improving its overall ESG performance. We scored the maximum 100 points on the aspects “policies”, “reporting”, “risk management” and “targets”. This recognition confirms our ESG strategy ‘Be Green, Be Engaged and Be Responsible’ is recognized by the industry. Last year we continued to invest in our portfolio, reduce our carbon emissions and obtained green building certifications, updating and implementing our green lease and responsible procurement policies.

GRESB is a global Environmental, Social and Governance (ESG) benchmark for real estate and infrastructure investments across the world, with over 1,500 property companies, REITs, funds and developers participating in the GRESB Real Estate Assessment in 2021, generating a benchmark that covers $5.7 trillion of AuM. The benchmark covers nearly 117,000 assets. Eurocommercial maintained its "A" GRESB disclosure score for the eighth consecutive year.

Eurocommercial has also received the European Public Real Estate Association (EPRA) Gold Award for the eight consecutive year for compliance with its Best Practices Recommendations for sustainability reporting (sBPR).

Investments in sustainable centres

Solar panels

Eurocommercial continued to invest in its properties to make them more efficient to reduce our environmental impact. In 2021, we installed and are producing solar energy in all our Swedish shopping centres. The total possible solar production will be around 3,5MKwh per year which is approximately equivalent to 10% of our annual electricity consumption. This supports the Group to reduce our carbon emissions and is one of the many initiatives to meet the Group target to operate carbon neutral by 2030.


BREEAM certification

Eurocommercial also continued to certify its shopping centres with BREEAM. Val Thoiry, Carosello, Cremona Po, Curno, I Gigli, I Portali and Il Castello, were all certified with BREEAM this summer.

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