Road to zero emissions
Zero waste | Increase in energy consumption and costs and damages to assets due to unexpected environmental factors (flooding, temperature increase) | Structural actions (photovoltaic systems, LED lighting systems) and asset analysis aimed at fostering both energy efficiency of the structures and resilience to weather conditions | Reduce operating costs and greenhouse gas emissions by promoting the use of renewable energy |
| Increase in management costs due to a rise in prices of fossil fuel | - Structural actions (photovoltaic systems, LED lighting systems) and asset analysis aimed at fostering both energy efficiency of the structures and resilience to weather conditions
- Continuous monitoring of electricity consumption by means of divisional meters and monthly internal reporting; integrated moniotirng system pilot carried out.
- Management actions also in line with UNI EN ISO 14001 and BREEAM certification requirements. |
| Sanctions related to the increasingly stringent environmental regulations | EMS (Environmental Management System) UNI EN ISO 14001 certified both with regard to the headquarters and to 24 shopping centers |
Risk regarding non-compliance to new
European/national laws on environmental issues | Constant vigilance regarding initiatives by means of active participation in the ECSP Sustainability Committee and in the EPRA Sustainability Group and in the ESG Commission of the CNCC | Increase the reputation as a Company that is active on sustainability issues both at a national and international level |
| Reputational fall due to a lack in management/investments with regard to enviromental issues | - UNI EN ISO 14001 certifications.
- Breeam and Breeam in Use certification obtained in 12 Shopping Centers
- Investments to improve energy efficiency.
- 96% energy from renewable sources.
- Awarness raising activities regarding visitors, tenants and employees.
- Creation of innovative projects |
| Accessibility and sustainable mobility | Impossibility of satisfying the different needs in terms of mobility of the various target visitors (with reputational fall and drop in visitors) | - EV charging stations installed in 19 Shopping Centers
- Feasibility project to promote cycling is currently under assessment | Reduce indirect emissions (Scope 3) |
| Non-compliance with the introduction of legislation regarding the compulsory installation of EV charging stations |
| Good employment | Low attractiveness with regard to new talent | - New approach in the recruitment section on the website
- Professional use of social networks, also by means of creating corporate brand ambassadors | Attract and maintain the best resources |
| Increase in staff turnover | - Corporate Welfare Plan aimed at all employees on permanent contracts
- Monitoring of internal atmosphere and definition of follow up actions
- Development of internal skills to manage any replacements without drawing on the external market |
| No updating of skills in relation to the evolution of the sector and of the regulations | - Implementation of training programmes for professional development
- Internal committees for information sharing |
| Non-compliance with legislation | Impartiality towards all employees and guarantee of equal opportunities (as described in the Code of Ethics) |
| Reputational fail linked to the failure to comply with corporate values |
| Wellbeing, health and safety | Inability to guarantee a safe environment for employees and for those that experience the Shopping Center life | - Functionality of the Prevention and Protection Service Manager
- Specific projects: lifelines, anti-ram bollards, anti-seismic
- Introduction of specific measures aimed at limiting the pandemic risk
- Biological Shield Approach obtained in all the shopping centers, in addition to the headquarters | Make the shopping centers safe and inform visitors abouth this |
| Non-compliance with legislation | Safety at Work Management System adopted, in accordance with article 30 of Consolidated Safety act 81/2008 | Guarantee a good working atmosphere based on trust and awarness |
| Increase in injury at work rate (with repercussions on corporate efficacy) | Training on safety: general training for new employees, refresher course every five years for person-in-charge, refresher course every five year for workers, refresher
course for Workers’ Safety Representatives; Fire prevention course |
| Inadeguate provision of technological devices for employees in remote working to carry out their duties in the best conditions | - Devices provided for headquarter employees in remote working
- Agreement signed with trade unions regarding remote working |
| Governance, ethics and corruption | Lack of counter measures against corruption with legal implications and impact on reputation | > IGD guarantees compliance with the laws in force by abiding by the protection measures included in the Organisational Model ex. Legislative Decree 231/01 and in the Code of Ethics (reviewed in 2020).
> UNI ISO 37001-Anti Bribery Management Systems certification obtained both in Italy and in Romania.
> IGD obtained and confirmed the Legality Rating awarded by the Antitrust Authority (AGCM) with the maximum score. | Guarantee relations with its stakeholders based on equal opportunities, on fairness and on transparency |
| Reputational risk in the event of non-compliance with the Code of Ethics | System defined regarding the reporting of breaches (so called Whistleblowing) of
the Code of Ethics and/or of the operating procedures which make up the Organisational, Management and Control Model adopted by IGD in accordance with Legislative Decree 231/2001 |
| Data breach and cybersecurity failure | - IGD became aligned with the GDPR Regulation, with the purpose of ensuring its stakeholders that the data they provide to the Company is properly protected.
- Cyber Security: IGD implemented a process to regulate the management and use of IT tools supplied to the Group's employees, so as to guarantee greater data security. |
| Sanctions related to non-compliance with privacy laws and legislative decree 231/01 | - Definition of specific procedures
and the continuous update of them;
- Activities carried out for compliance;
- Periodic audits. |
| Low ESG ratings | - Monitoring of assessments obtained
following inclusion or participation
in sector and non-sector ESG ratings,
with the definition of improvement
actions. | Obtain access to sustainable finance tools |
| Enhancement of the portfolio | Reduction in the attractiveness of the structures with possible results being a decrease in footfall, marketing difficulties and a decrease in investor interest | Sustainability as an integral part of restyling work and extensions in all the Shopping Centers where restyling work and extension are carried out | Diversify visitor
engagement methods
to ensure high
attractiveness of
the Shopping Centre |
| Difficulty in identifying and introducing appealing tenants | - Active managing of existing tenant
portfolio and scouting to identify new
brands. |
| Spaces to be lived in | Inability to offer the visitors other drivers with regard to choice, in addition to the retail offer | - Programming of marketing initiatives
in an increasingly omnichannel
approach, capable of engaging visitors
on issues regarding sustainability. | Maintain high attractiveness
of the Shopping Centres
using sustainability as one
of the innovation drivers |
| Innovation | Non-optimum
management/
monitoring of the
digital transformation
process. | - "Innovation project" launched in 2016 with annual planning, implementation, monitoring and fine tuning phases
- Implementation of actions as per the Digital Plan |
| Relations with the stakeholders | Investing in activities that are not material for the stakeholders and/or not guaranteeing a suitable offer due to lack of information regarding their expectations | - Creation of an engagement plan involving all the stakeholders, both with regard to business issues and with those relating more to social responsibility.
- A specific engagement plan defined for the shopping centers visitors | Establish a relationship of mutual trust with its stakeholders |
| Local community | Being perceived as an “outsider” compared to the local community | IGD is committed to having a positive impact on the local community in three ways:
- employment, with regard to those that work there and to the suppliers;
- commercial: IGD is committed to introducing into its Malls those tenants that are more appealing at local level, in line with the location of the shopping center in its catchment area;
- social/meeting place: each center operates so that contact with the local community is heightened and intensified over time, the aim being to enhance and favour inclusiveness.
| Increase the credibility and consequently the attractiveness of the shopping center as an active player in local development |
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