We believe that conducting our activities in a way that is sensitive and responsive to our stakeholders’ needs and concerns is vital for the long-term success of our business. We collect valuable feedback from our investors, tenants, clients, visitors, employees, suppliers and from local community members, which can help us to refine our approach at a corporate level.
Our main stakeholder groups are:
INVESTORS AND FINANCIERS
We engage with investors and financiers through our annual report and quarterly accounts, general shareholders assembly, as well as regular meetings and presentations about our financial performance and risk management practices. We also participate in the INREV (the European Association for Investors in Non-listed Real Estate Vehicles) Sustainability Committee that aims to inform and educate members around fund-level sustainability issues and we take part in the annual Global Real Estate Sustainability Benchmark (GRESB).
We view our tenants as strategic partners. Our shopping centre management teams work with tenants on a daily basis to strengthen their business potential. Sales audits and individual meetings with tenants are two examples of how we evaluate tenants’ performance and we work with them to identify solutions to make their businesses grow.
We undertake annual tenant satisfaction surveys in all our owned shopping centres, and use the results to develop action plans to address aspects which receive low scores and ultimately drive continuous improvement in tenant satisfaction levels.
We regularly engage with our tenants on sustainability issues. We provide training on Safety, Health and Environment (SHE) issues, invite tenants to actively participate in SHE Committees, and work with them to improve their SHE performance such as identifying opportunities to reduce energy consumption and publishing SHE Good Practices Guides.
Personæ Tenant Award
In 2007 we launched the Personæ Tenant Award to recognise the S&H efforts made by our tenants to maximise their performance in their shops, thus helping to promote a culture of accident prevention and foster a safe environment for staff and customers. The award now takes place every two years and it is currently in its 4th edition. Please click on the dates to see our past winners:
Planet Sierra Tenant Award
In 2010 a similar Award – Planet Sierra Tenant Award, was launched for the first time to recognize outstanding environmental performance. This award is given two years, alternating with Personæ Tenant Award, and is also intended to recognize tenants’ endeavours towards environmental excellence, thus promoting a joint sustainable long-term business. Please click on the dates to see our past winners:
We conduct an employee Climate Survey every two years to measure levels of staff engagement and satisfaction. Other communication tools include our in-house Horizons magazine and intranet, as well as the ‘We Share’ programme that aims to aggregate and share the professional knowledge and expertise of our employees by bringing together the many knowledge sharing initiatives we organise.
We engage with our employees on sustainability issues through regular SHE meetings and training. Our Evolve newsletter raises awareness of sustainability information and is supported by SHE Tips and Alerts and the ‘My Advice’ tool that allows senior managers to share simple health and safety messages.
Procurement is particularly complex in the retail property industry. We have an extensive supply chain in place, and rely on our service suppliers to help us to meet our business objectives, including sustainability objectives. Both our Development and Property Management businesses have integrated the requirements of Sonae Sierra’s SHEMS into their Service Suppliers Management Procedures and Safety, Health and Environment Development Standards (SHEDS), so that these are set up in a way that ensures that our main suppliers’ performance meets Sonae Sierra’s requirements, including SHE requirements.
Safety is a key focus of our engagement activities with our suppliers. We hold regular SHE meetings and training with our security, maintenance, cleaning and waste suppliers to discuss the most common incidents experienced by these service providers. We have also published a SHE Good Practices Guide that sets out best practice guidelines covering various activities to reduce the risk of safety accidents and environmental incidents. We also use our Safe Practice Index (SPI) audit tool to assess and improve safety conditions on our construction sites.
Our Responsible Procurement Policy commits us to integrating sustainability criteria into our Service Suppliers’ Management Procedures and we regularly engage with our suppliers to improve their social and environmental performance. For example, we provide and invite suppliers to actively participate in Open SHE Committees and provide safety training. All contracts typically over €1 million with critical development suppliers include clauses related to SHE impacts and pre-qualification questionnaires for major suppliers of structural goods and services gather information on their policies and practices regarding SHE issues.
COMMUNITIES AND VISITORS
We are committed to providing attractive shopping centres that serve the needs of the local population. We seek to generate local economic benefits by creating local employment, inviting local businesses to rent space in our shopping centres and investing in initiatives that improve the well-being of local people.
Through our Community Advisory Panels (CAPs) programme, we integrate community consultation and engagement into the development and operation of each of our shopping centres. At CAP meetings, community representatives are invited to raise ideas and concerns and present potential projects for collaboration covering environmental, social and economic improvements in the areas in which we operate.
During the operations phase, besides ensuring that the tenant mix, facilities and events offered by the shopping centre are suited to visitors’ needs and interests, we undertake regular surveys and aim to play an active role in raising visitors’ awareness of sustainability concerns, promoting a large number of events and campaigns with environmental and social themes. We also support charitable initiatives to promote community members’ well-being.
We engage with local authorities at the shopping centre level during the planning, development and operations phases. Local authority representatives are often invited to participate in our CAPs, where they can raise any concerns and suggestions regarding shopping centre activities and present ideas for collaboration.
We engage with local and national media in each country where we operate to promote our activities covering economic, social and environmental issues.
Note: At the “Sustainability” all information is comprehensive and refer to the Sierra and its shopping centers in the various countries in which it operates, including Brazil.