Atrium European Real Estate has published its 6th ESG report summarising the company's achievements in 2021. The report details the key initiatives involved in the implementation of the its ESG strategy. The company has set new and even more ambitious medium-term targets for 2030, which include a 40 pct reduction in the carbon footprint of its shopping centres by 2030, compared to 2019 levels. By 2050, Atrium wants to have become a carbon-neutral organisation.
Atrium’s sustainable development strategy is based on 3 pillars: Our Places, Our Customers, Our People. In each of these areas, the company aims to improve its performance and implement changes to create value for local communities, the environment and stakeholders. Through a number of initiatives, the company seeks to promote efforts to reduce its environmental impact and energy consumption, as well as a health-and-safety conscious approach.
Care for the environment
The priority of Atrium European Real Estate remains to strive for climate neutrality by 2050 and support retailers in this area. In 2021, carbon reduction paths for each asset were developed to better understand the priorities and actions to be taken in the coming years. Atrium is gradually implementing a 5-year investment plan that was developed in 2021. The goal is to maximise the energy efficiency of individual facilities, which will result in a reduction in energy consumption and a 40 pct cut in carbon emissions for its shopping centres by 2030. Ultimately, the company also wants to achieve a recycling rate of at least 75 pct and a minimum 50 pct proportion of renewable energy. An integral part of the Our Places pillar is the protection and promotion of biodiversity by, among other things, increasing the efficiency of waste management, planting and introducing more apiaries and flower meadows around the centres.
Sustainable business is the foundation of our future. We want to reduce our environmental impact and greenhouse gas emissions as much as possible. Atrium has implemented a range of energy efficiency initiatives, from simple upgrades such as the roll-out of LEDs and the installation of solar panels at our centres, to innovative artificial intelligence solutions to optimise our systems. We are committed to efficient waste management, gradually increasing recycling levels and reducing water consumption. We also want to increase the use of renewable energy. Furthermore, Atrium has developed biodiversity plans for our centres. This means that most of them already have excellent BREEAM ratings, and our goal is that by 2030 they will all be certified as ‘Excellent’.
Daria Pawełko, the head of innovation and ESG at Atrium European Real Estate
Programmes for customers and local communities
In 2021, Atrium invested around EUR 2 mln in social initiatives under its Together programme. As a property owner, the company not only provides a physical space but also organises a series of activities to support education, health and personal development on a daily basis. In 2021, Atrium organised more than 400 events or activities under the Social Engagement Programme. This includes 53 events to develop local entrepreneurship, 21 events to develop environmental awareness, 149 events to promote self-development and entertainment, and 194 events on the well-being of our communities.
Our cooperation with retailers continues to be an important part of our carbon reduction plan. To reduce our Scope 3 emissions, we work with our partners through the Tenant Engagement Program, which consists of more sustainable lease agreements, green days, and the Tenant Academy that builds awareness among local teams. It aims to raise awareness around sustainable and environmentally responsible business practices. "We are committed to sustainable development throughout the value chain and so we request our business partners to follow Atrium's ESG principles.
Scott Dwyer, the group managing director for retail at Atrium European Real Estate
Atrium reports according to the environmental standards set out by both the Global Reporting Initiative (GRI) and the European Public Real Estate Association (EPRA). In 2021, Atrium once again received the EPRA Sustainability Gold Award, along with ‘Green Star’ status under the Global Real Estate Sustainability Benchmark (GRESB) for its sustainability performance against industry peers. The company was awarded a 5-star rating and improved its score to 87, which equates to an increase of 19 points compared to 2018. This only confirms that Atrium European Real Estate is on track to achieve its sustainable development goals.
View the full text of the report here
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Atrium European Real Estate Limited
Atrium is part of G City and an owner, manager and developer of retail and residential rental properties in Central Europe. Atrium specialises in shopping centres with a wide range of dining, fashion and entertainment options in prime urban locations, with a particular focus on Warsaw and Prague. The development of Atrium’s retail property portfolio is based on proactive asset management activities, in line with its motto ‘retail is detail’. Atrium's portfolio currently includes 26 revenue-generating assets (including one residential rental property) with a total market value of EUR 2.3 bln and a total gross leasable area of more than 760,000 sqm.
