Strategic priorities

Future-proof the lived environment

With this strategic priority we will serve the human and business needs of tomorrow’s cities, by future-proofing the built environment and operations through responsible investment criteria and sustainability solutions.

Strategic priorities - Operating Context

Operating Context

  • Increasing regulation governing Sustainability, including safety, health and environmental (SHE) aspects
  • Pressure from investors and other stakeholders to ensure that Sonae Sierra operates according to high ESG standards
  • Shortages of natural resources will lead to an increase in their costs, demanding a new approach to the way we develop and manage assets
Strategic priorities - Our Approach

Our Approach

  • Embed resource resilience strategies and a best in class Safety, Health & Environment Management System (SHEMS) across all our corporate operations
  • Promote the uptake of SHEMS and resource resilience across our investment portfolio
  • Encourage our clients to implement sustainability standards on their own assets by demonstrating the business case and delivering sustainability services
  • Position ourselves as experts in energy, water and waste strategies for real estate assets
  • Promote sustainable building certifications and develop resilient assets
  • Specific roadmap for decarbonization to tackle climate change
  • Adopt responsible investment criteria
  • Ensure the adoption of circular economy principles across our operations
  • Provide the best sustainability initiatives for local communities
Strategic priorities - Intended Results

Intended Results

  • Ensure that risks towards people, assets and ecosystems are minimised
  • Address environmental and social challenges (e.g. climate change)
  • Increased competitiveness and supporting business’ long-term profitability
  • Communities engaged with sustainability
Strategic priorities - Shared Value Created

Shared Value Created

  • Operational efficiencies & risk management
  • Enhanced reputation and brand value
  • Long-term asset value protected
  • Lower environmental impact
  • Improved eco-efficiency
  • Local community safety and well-being
  • Reduced operational and insurance costs
  • Increased revenue
  • Higher quality service for clients, tenants & visitors
  • Increased client and tenant preference
  • Protected license to operate
  • Stakeholder engagement
  • Enhanced shareholder value

Our performance to date

Not only have we consistently improved our environmental performance, but we have avoided over €15.1 million in costs in 2020 from eco-efficiency improvements in energy, water and waste introduced since 2002.

The following charts illustrate our progress against the key performance indicators that have guided actions with respect to energy efficiency, water efficiency, waste management and recycling, and safety and health.

Each year, we track our progress against annual targets and actions and our performance is externally verified. Our long-term objectives are reviewed on a regular basis, with the most recent review taking place in 2019 when we updated our previous 2025 commitments with more stretching goals. In 2020 the atypical operation caused by the pandemic, caused some abnormal oscillations in the performance indicators, therefore we have not yet updated our long-term commitments.

  • Baseline Year
  • Last Year
  • 2025 Target

    Electricity efficiency (excluding tenants) of our owned portfolio (kWh/m2 mall and toilet area)

      GHG emissions of our owned portfolio and corporate offices – GHG Protocol scopes 1 and 2 (kg CO2e/m2 GLA)

        Water efficiency (excluding tenants) of our
        owned portfolio (litres/visit)

          Total waste recycled as a proportion of waste produced (% by weight, across owned portfolio)

            Level 3, 4 and 5 accident rate in our owned portfolio1

            1 Number of accidents of level 3, 4 and 5 among tenants, service suppliers, workforce and visitors per million visits. Level 3, 4 and 5 accidents are defined as those resulting in medical assistance, lost workdays/life disruption and fatality/permanent disability, respectively.

            Safe, healthy & engaged workforce

            With this strategic priority we will ensure a diverse, inclusive and engaged workforce by developing employees’ skills and productivity within a safe, healthy and empowering culture.

            Strategic priorities - Safe, healthy & engaged workforce - Operating Context

            Operating Context

            • Competition for talent
            • High importance of people’s competencies, skills, relationships and productivity, within our business strategy
            • Increasing focus on workplace wellness - promoting health and wellbeing to increase employee productivity, satisfaction and retention
            Strategic priorities - Safe, healthy & engaged workforce - Our Approach

            Our Approach

            • Continuously build the skills and knowledge of our people to maximise their potential so that we deliver superior services to our clients
            • Embed sustainable lifestyles among our people by increasing knowledge and awareness of best of health and wellbeing best practices
            • Guarantee safe workplaces for our worforce, promoting a safety culture through our best in class Safety, Health & Environment Management System (SHEMS)
            • Ensure a diverse workforce by promoting diversity and defining quotas for gender equality
            • Guarantee high Top Talent Retention Rates
            • Foster engagement among our workforce
            Strategic priorities - Safe, healthy & engaged workforce - Intended Results

            Intended Results

            • Offer hands-on training that provides immediate value
            • Capitalise on our in-house expertise to develop our talent
            • Become a beacon for professional development
            • Promote sustainable lifestyles among employees
            • Guarantee a safe workplace
            • Achieve a diverse workforce
            Strategic priorities - Safe, healthy & engaged workforce - Shared Value Created

            Shared Value Created

            • Enhanced intellectual capital
            • Higher levels of staff satisfaction, engagement & productivity
            • Talent attraction & retention
            • Superior client service
            • Enhanced shareholder value

            Our performance to date

            We can highlight some of the following achievements:

            • The formation of the Sierra Academy, a training platform that sets a reference standard for know-how and skills in the sector, whilst nurturing Sonae Sierra’s values, increasing internal networking and knowledge sharing, and fostering talent.
            • The development of several initiatives to improve employee wellbeing and promote resilience as part of ‘Project Be Well’ that aims to tackle the causes of work related stress.
            • Baseline Year
            • Last Year
            • 2025 Target

              Accident rate (LWCAFR) among workforce 1

                Accident Severity Rate (ASR) among workforce 2

                  Women in leadership positions (%)

                    Top talent retention (%)

                    1 The Accidents Rate (LWCAFR) is the number of accidents resulting in one or more lost workdays per million worked hours by Sonae Sierra workforce (direct employees and supervised workers).
                    2 The Accident Severity Rate (ASR) is the number of lost workdays of accidents per million worked hours by Sonae Sierra workforce (direct employees and supervised workers).
                    Strategic priorities - More information

                    More information

                    A list of the long-term objectives related to the Future-proof the lived environment and Safe, healthy & engaged workforce focus areas can be downloaded from the Long-term objectives page of our website.

                    For more on our historical performance, further key performance indicators and our management approach, see our 2020 Economic, Environmental and Social Report here.

                    For examples of initiatives in action, see case studies.

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