Alina Oprea • 24 February, 2023 at 9:29 AM
Sonae Sierra reinforces the implementation of ESG measures and states that sustainability is a differentiating factor and a commitment from the company for more than 20 years. Tenants and service providers join the company's commitment to encourage the implementation of better ESG practices - targeting environmental, social and governance criteria, with the aim of making shopping centers in Europe more sustainable, the company says.
Sonae Sierra is present in 11 countries, and globally manages assets and real estate properties worth more than € 8 billion, in various sectors.
"Sierra's integrated sustainability strategy, a leader in the international real estate sector, has enabled it to create added value for business, the environment and society. This market differentiator of more than two decades has now been extended to include ESG criteria – environmental, social and governance – in contracts with tenants and service providers in the shopping centres the company manages in Portugal, Spain, Italy, Romania and Greece", announced the company.
The conditions include measures to monitor and improve safety, welfare and environmental performance not only for the shop space, but also for the shopping centres as a whole and their communities. Commitment on the part of centres, traders and service providers also involves ensuring not only respect for human rights but also adequate and fair working conditions for all employees.
"Sustainability is part of our DNA and has accompanied Sierra's evolution for decades. By expanding ESG criteria in shopping centre contracts, we strengthen the added value brought to business, the environment and society. We also position ourselves as agents of change, encouraging everyone who works with us to practice responsible management. To create the cities of the future, we must work together. The new development cycle started by Sierra in 2021 reinforces the company's sustainability strategy. We have achieved positive results by aligning ourselves with environmental, social and governance best practices to constantly evolve alongside our partners. We aim to reach carbon neutrality by 2040, which means a 10-year advance compared to the European Commission's objective", says Ana Guedes de Oliveira, Executive Director - Asset Management at Sonae Sierra.