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01sonae sieRRa Corporate Responsibility performance by Country roMania
1. Company pRofile
sonae sierra is the international shopping centre specialist that is passionate about bringing innovation and excitement to the shoppingindustry. incorporated in portugal in 1989, sonae sGps (portugal) and Grosvenor (united Kingdom) each own 50% of the Company. ouruniquely integrated approach to our business combines the ownership, development and management of shopping centres augmented by themarketing of knowledge-based activities for third parties that we believe help create leading-edge destinations for consumers.
on 31 December 2010 we owned 51 shopping centres in portugal, spain, italy, Germany, Greece, Romania and brazil, with a total Gross lettablearea (Gla) of 2,017,289 m2. mediterranean Cosmos has not been included within the scope of our 2010 CR Reports since during 2010 we soldour interest in this shopping centre. We had three projects under construction and seven new projects in different phases of development inportugal, italy, Germany, Greece, Romania and brazil, with a combined total Gla of over 463,171 m2 (including the torre ocidente office project)1. We also managed a further 17 shopping centres on behalf of others. We aim to create “leading-edge destinations” for consumers and in 2010 our owned shopping centres in operation welcomed more than 415 million visits. our total portfolio under management – including shoppingcentres owned by third parties – welcomed more than 431 million visits.
1.1 our vision and Mission
our vision is to be the leading international shopping centre specialist. our mission is for sonae sierra to be the international shopping centrespecialist that provides ultimate shopping experiences to customers and creates outstanding value to shareholders, investors, tenants,communities and staff, while contributing to sustainable development.
1.2 our corporate responsibility (cr) Management system
the key CR issues that we identify as being the most material to our business are managed through our CR management system. this is builtaround a cyclical model which helps us to achieve continuous improvement in our performance across all nine impact areas: energy and Climate,Water, Waste, biodiversity and Habitats, suppliers, tenants, Communities and Visitors, employees and safety and Health. We establish policiesand strategies in order to translate our values and commitments into practical actions. We monitor our progress against key performanceindicators and targets on an annual basis to ensure that we are on track to accomplish our long-term goals.
1.3 cr Governance
our CR management system is managed by CR Working Groups that, between them, govern all CR impact areas. the Head of each WorkingGroup is represented in our CR steering Committee, which is chaired by our Ceo. the CR steering Committee is responsible for overseeing the organisation’s identification and management of material CR issues and ensuring that performance in these critical areas is monitored and improved.
1 the value 463,171 m2 does not include our project at ioannina in Greece, as data is not yet available for this project.
corporate valuesand key principles
environmental policysafety and Health
policy etc.
CR policy
Vision and mission
Reporting
Verificationand Validation
management Review and Reporting
targets and Kpis
CR objectives
02sonae sieRRa Corporate Responsibility performance by Country roMania
1. Company pRofilecontinued
1.4 2010 performance summary
0.034energy and Climate: Greenhouse gas(GHG) emissions of our owned portfolioand corporate offices (tCo2e/m2 Gla)
2007
0.074
2008
0.071
2009
0.067
2010
0.034
514energy and Climate: electricity efficiency(excluding tenants) of our ownedportfolio (kWh/m2 mall and toilet area)
2007
558
2008
553
2009
527
2010
514
3.7Water: Water efficiency (excludingtenants) of our owned portfolio(litres/visit)
2007
4.0
2008
3.6
2009
3.8
2010
3.7
51Waste: total waste recycled as aproportion of waste produced (% byweight, across our owned portfolio)
2007
35
2008
42
2009
46
2010
51
96.4tenants: average occupancy index3
(% by Gla, across our owned portfolio)
2007
96.6
2008
95.8
2009
95.9
2010
96.4
€1.219mCommunities and Visitors: marketinginvestments in CR and other communitycontributions (€ million)
2007
n.d.*
2008
2.380
2009
1.143
2010
1.2194
€776employees: investment in staff training and development (€ per capita)
2007
1,239
2008
900
2009
1,195
2010
776
5.8safety and Health: number of non-conformances per hour of safetypreventive observation (spo)5
2007
10.5
2008
7.9
2009
5.7
2010
5.8
* the abbreviation ‘n.d.’ stands for ‘no data’, meaning that no data is available for this time period.2 this figure does not include militari Commercial Gallery in Romania, a shopping centre which has been under sonae sierra’s management since July 2010.3 this indicator includes the 51 shopping centres owned by sonae sierra and in operation on 31/12/2010. Data for previous years has been updated in order to
include Gla that is occupied by tenants who own their shop unit.4 this also includes donations made by shopping centre visitors and staff (€38,975). the fX rate used to convert brazilian Reais (R$) into euros (€) was 0.42982
and the fX rate used to convert Romanian lei (Ron) into euros (€) was 0.23752.5 safety preventive observations are a form of safe behaviour audit undertaken at our shopping centres in operation. it aims to identify and correct behaviour which
could potentially lead to accidents. this indicator covers the average number of non-conformances per hour of spo detected at nine reference sites, which areconsidered to be a proxy for our whole portfolio.
€6,481mopen market Value (omV) of assetsunder management (€ million)
2007
6,154
2008
6,166
2009
6,340
2010
6,481
€123.4mebitDa – ias(€ million)
2007
93.0
2008
105.9
2009
108.8
2010
8,521number of tenant contractsunder management
2007
8,162
2008
8,455
2009
8,924
2010
8,5212123.4
2,220Gla under management(000’s m2)
2007
2,183
2008
2,163
2009
2,284
2010
2,2202
03sonae sieRRa Corporate Responsibility performance by Country roMania
2. ouR CR obJeCtiVes
Developing and managing shopping centres has the potential to cause a number of significant impacts on the environment, society and the economy.
We have defined long-term objectives in relation to each of our material CR impact areas. these are shown in the table below.
energy and Climate £ achieve a 70% reduction in GHG emissions per m2 of Gla, by 2020, compared to the 2005 level (GHG protocol scopes 1 and 2, plusbusiness air travel).
£ strive to increase the energy efficiency of our operations, aiming to attain a maximum electricity consumption of 400 kWh/m2 (mall andtoilet area) per year across sonae sierra owned shopping centres, by 2020.
£ Develop and implement a long-term Climate Change adaptation strategy covering investment, development, management andcorporate activities, by 2020.
Water £ attain a level of water consumption at or below three litres per visit (aggregated across all sonae sierra owned shopping centres) by 2020.
£ at least 10% of total water consumed at sonae sierra owned shopping centres to be ‘grey water’ or harvested rainwater by 2020.
£ Develop and implement a long-term strategy to ensure a secure water supply at sonae sierra owned shopping centres, with a particularfocus on locations that are vulnerable to water shortages, by 2020.
£ ensure that all discharges comply with sonae sierra’s wastewater quality standards and pollutant limits, by 2020.
Waste £ increase the proportion of total waste (by weight) that is recycled, recovered or reused in order to obtain a minimum recycling rate of55% across sonae sierra owned shopping centres, by 2020.
£ Reduce the proportion of waste (by weight) that is sent to landfill in order to keep below a maximum limit of 30% of waste sent to landfillacross sonae sierra owned shopping centres, by 2020.
£ increase the proportion of total waste (by weight) that is recycled, recovered or reused in order to obtain a minimum recycling rate of80% across sonae sierra corporate offices, by 2020.
£ maintain a high level of performance in terms of waste recycling in construction projects and aim to increase the proportion ofconstruction materials with recycled content.
biodiversity and Habitats
£ promote the use of previously developed land or brownfield land for new sonae sierra shopping centre projects.
£ strive to protect and enhance biodiversity on both existing sonae sierra sites and new projects and add value to new projects by activelyintegrating biodiversity whenever possible, taking into account the regional context.
suppliers £ engage with our development suppliers with the aim of encouraging them to adopt more responsible business practices.
£ foster loyalty amongst frequently used property management suppliers, seeking to help and encourage them to adopt moreresponsible business practices themselves.
£ increase the proportion of materials used in development, expansions and refurbishment projects that are sustainable materials, aimingfor 100% of timber used to be certified sustainable timber6 and for the percentage of materials comprising recycled content to beincreased, by 2020.
tenants £ Deliver a high quality service to tenants and maintain high levels of customer satisfaction, striving to achieve an average tenantsatisfaction level of 4 or above in all sonae sierra owned shopping centres by 2015.
£ engage with our tenants with the aim of helping them to improve their environmental and safety and health performance.
Communities and Visitors
£ achieve full implementation of the Community advisory panels (Caps) across the whole sonae sierra operational and developmentportfolio, by 2014.
£ Devise and implement a long-term strategy aimed at involving the largest number of sonae sierra shopping centres’ local communities’members, in order to improve communities’ well-being, by 2012.
£ enhance visitors´ recognition of sonae sierra’s shopping centres’ sustainability performance.
employees
safety and Health £ enhance the well-being of our workforce and reduce the rate and severity of workplace accidents and occupational diseases, aimingtowards zero.
£ anticipate and prevent all safety risks on sonae sierra construction sites, minimising the number of accidents and their severity,aiming towards zero.
£ provide a safe environment for everyone who visits or works within sonae sierra shopping centres, aiming towards zero accidents,and promote safety and health conscious behaviour among our tenants, suppliers and visitors.
£ offer our employees more flexible working arrangements with the aim of becoming a recognised leader in this area, by 2012.
£ adopt and implement a strategy, with the aim of creating the best possible working conditions for all our staff, by 2014.
£ improve workforce ergonomic conditions based on approved standards by the end of 2012.
£ encourage our employees to develop their skills and expertise and foster innovation. We will do this by offering high potential peoplethe opportunity to participate in challenging projects within the company and by promoting other talent management programmes,including training.
6 the proportion of timber products used that are from sustainable sources is calculated by value of spend.
1
04sonae sieRRa Corporate Responsibility performance by Country roMania
1: River plaza mall
3.1 highlights in 2010
£ We reduced electricity consumption per m2 (mall and toilet area) by 6% at River plaza mall in comparison with the 2009 result. thistrend was due to the energy efficiency measures introduced in 2009,which allowed for an annual energy saving of 1,755,500 kWh.
£ River plaza mall was assessed for an energy performance Certificate(epC) in 2010 and awarded a class b on the scale of a (highestefficiency) to G (lowest efficiency). River plaza mall was the firstshopping centre in Romania to obtain an epC.
£ We agreed a new electricity contract with a higher proportion ofrenewable based energy for River plaza mall, and in 2010 we reducedGHG emissions per m2 of Gla by 23% in comparison with the 2009results.
£ We reduced water consumption per visit by 15%. River plaza mallimplemented measures to increase water efficiency, including closermonitoring to identify and correct water leaks and reducing thepressure flow in WCs.
£ We increased waste recycling to 35%. We began recycling new wastestreams and established a collection point for used lamps.
£ We planted trees in the city of Ramnicu Valcea, in collaboration withlocal institutions and nGos.
£ We gave presentations on environmental sustainability practices andinnovation at two conferences in bucharest.
£ We achieved an average tenant satisfaction level of 5 (on a scale of 1 to 6) at River plaza mall.
£ We presented the first edition of the planet sierra award to thetenant who demonstrated the best environmental performance(winner: mcDonalds).
£ We supported seven charitable organisations and dedicated 106hours of staff time to community volunteering.
£ We performed 275 hours of safety preventive observation (spo) at our shopping centre and corporate office.
key achieveMents
3.2 key Factsas on 31 December 2010
7 this value corresponds to the total rents invoiced (100%) to tenants of River plaza mall in Romania. it has been calculated based on account performance between 01/01/10 and 31/12/10. 8 operational costs are calculated based on account performance between 01/01/10 and 31/12/10. 9 this value corresponds to the number of visits welcomed by River plaza mall in Romania during the period 01/01/10 to 31/12/10.
€2 million
rent received7
2.8 million visits9
to our owned shopping centre
€1.4million
operational costs8
1 shopping centre
owned with a totalGla of 12,171 m2
2 projects
under developmentwith a combinedtotal Gla of123,000 m2
32directemployees
3. sonae sieRRa in Romania
We have one operational shopping centre, River plaza mall located in Ramnicu Valcea. River plaza mall was acquired by sonae sierra in 2007. on 31 December 2010 we had a further two projects in different phases of development in the country: adora mall in Craiova, and ploiestishopping in ploiesti. these projects are expected to add a combined total of 123,000 m2 of Gla to our Romanian portfolio, strengthening our presence within this market.
05sonae sieRRa Corporate Responsibility performance by Country roMania
4.1 key performance indicators
10 Data for previous years has been updated in order to include Gla that is occupied by tenants who own their shop unit.11 the impressive increase in comparison with 2009 is mostly due to: improved reporting; the enhancement of our s&H induction training for staff, service providers and
tenants; and the launch of an s&H e-learning programme.
Further referencesthis document is intended to summarise important data and information in relation to our operations in Romania.
our annual report, In Review 2010: Economic, Environmental and Social Performance contains a summary of our global financial and CR performance. the report is availableat: http://www.sonaesierra.com/en-Gb/corporateresponsibility/reportspoliciesandfeedback.aspx
our CR Report 2010, which is compliant with level a+ of the Global Reporting initiative (GRi) sustainability reporting guidelines, contains a more comprehensive account of ourglobal activities and CR performance. this report is available at: http://www.sonaesierra.com/en-Gb/corporateresponsibility/reportspoliciesandfeedback.aspx
4. CR peRfoRmanCe in Romania
impact area and indicator 2008 2009 2010 performance trend 09-10
energy and climate: GHG emissions of our owned portfolio 0.106 0.066 0.051 and corporate offices (tCo2e/m2 Gla)
energy and climate: electricity efficiency (excluding tenants) 505 424 397 of our owned portfolio (kWh/m2 mall and toilet area)
Water: Water efficiency (excluding tenants) of our owned 3.4 3.3 2.8 portfolio (litres/visit)
Waste: total waste recycled as a proportion of waste produced 17% n.d. 35% (% by weight, across our owned portfolio)
tenants: average occupancy index (% by Gla)10 84.1% 84.8% 82.2%
communities and visitors: marketing investments in CR and 6,036 7,279 3,521 other community contributions (€)
employees: investment in staff training and development (€ per capita) 196 1,644 81
safety and health: number of man hours of safety and Health 272 584 2,49311 training provided
case study
06sonae sieRRa Corporate Responsibility performance by Country roMania
We welcome your feedback on our approach to CR. an electronic feedback form is available on our website:
http://www.sonaesierra.com/en-Gb/corporateresponsibility/reportspoliciesandfeedback/feedback.aspx
We Want to hear your vieWs
proMotinG saFety, health and environMentally Friendlybehaviour aMonG visitors and local coMMunities in roMania
in 2010, River plaza mall in Romania held several events for visitors and members of the Ramnicu
Valcea community in relation to environment and safety issues.
in march, River plaza mall celebrated the local environment agency Day by inviting children from
kindergartens to recite poems, sing and make drawings showing their concern for the environment
for parents and representatives from the national environmental protection agency and the local
environment agency.
in april the shopping centre celebrated the World Day for safety and Health at Work. flyers were
distributed to the tenants and visitors by a fireman, offering advice on fire hazard prevention. to
increase awareness on road safety and the dangers of reckless driving, a car previously involved in a
traffic accident was displayed at the shopping centre entrance, with the support from local police
department.
in June, the River plaza mall held several events for the World environment Day. 1,000 flow water
restrictors were distributed to visitors together with flyers providing simple tips on how to save water
at home and at work. the River plaza team planted trees around Ramnicu Valcea with the participation
of local institutions and nGos, and the shopping centre also donated water from its emptied fire
fighting tank to the local public authorities for street cleaning and watering of green areas around the
city, thereby promoting efficient water use.
4.2 case studies
