Sonae Sierra reinforces the implementation of ESG measures

Maia – Portugal · 31st January 2023

• An ethos of sustainability has been a differentiating factor and clear commitment from Sierra for more than 20 years
• Tenants and service providers join the commitment to encourage the implementation of greater and better practices on an environmental, social and governance (ESG) level, with the aim of making shopping centres across Europe more sustainable

The integrated sustainability strategy of Sierra, a leading international company in the real estate sector, has allowed it to create shared value for the business, the environment and society. This differentiating element in the market for more than two decades has now expanded to include measures relating to ESG – environmental, social and governance – in contracts with tenants and service providers across the shopping centres that the company manages in Portugal, Spain, Italy, Romania and Greece.

Ana Guedes de Oliveira, Executive Director of Asset Management at Sierra, says: “Sustainability is in our DNA and has accompanied Sierra’s growth for decades. By expanding the ESG criteria in shopping centre contracts, we are reinforcing the shared value for the business, the environment and society. We are also asserting ourselves as agents of change, encouraging everyone who works with us to commit to responsible management. To create the cities of the future, we must work together”.

The conditions include measures around monitoring and improving the safety, well-being and environmental performance not only of the store space, but also of the shopping centre and respective communities. The commitment by centres, shopkeepers and service providers also involves ensuring not only respect for human rights, but also providing all employees with adequate, fair working conditions.

“The new cycle initiated by Sierra in 2021 reinforces the company’s sustainability strategy. We have achieved very positive results thanks to our alignment with the best environmental, social and governance practices, always maintaining the ambition to evolve, alongside our partners. We want to achieve carbon neutrality by 2040, which means anticipating the European Commission’s target by 10 years.”, affirms Ana Guedes de Oliveira.