Unibail-Rodamco is a French commercial real estate investment trust engaged in the development, construction and management of properties in Europe. The company’s asset portfolio is divided into three business segments: Shopping Centers, which includes properties in France, Spain, the Netherlands, Denmark, Sweden, Finland, Poland, the Czech Republic, Slovakia and Austria; Offices, comprising a number of business premises, warehouses and workshops in Paris; and Convention and Exhibition Complexes, also located in Paris.
Unibail-Rodamco has a considerable set of policies and initiatives to decrease its footprint from operations. The company recently set a 2030 goal to reduce its carbon emissions 50% by cutting the footprint from construction of new development projects 35% and of existing assets by 70%. Additionally, Unibail-Rodamco has committed to achieving a BREEAM rating of ‘Very Good’ or higher for at least 80% of its shopping centers. The company seeks BREEAM certifications for all of its new developments and extensions of more than 10,000 square meters, and 90% of its total retail and office portfolio is under green leases with standards for sustainability. Unibail-Rodamco also strives to create a business and shopping environment that promotes equality and diversity. In addition to initiatives to make its properties more accessible to mentally and physically disabled individuals, the company has numerous policies to develop women’s leadership across the group. Unibail-Rodamco hosts various philanthropic events and fundraisers in its shopping centers and donates millions of dollars each year to local charity fundraising and awareness events.
Unibail-Rodamco has been criticized for its flawed safety standards during construction of its new mall in Sweden.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.