Measuring the impact of our destinations in Europe
A catalyst for economic, environmental and social impact serving the common good
A holistic 360° approach, the study highlights URW’s positive impact and catalytic role in four key areas: economic, environmental, social and for the common good.
A strong contribution to growth and development: €10 Bn contribution to European GDP generated by URW shopping centres in Europe in 2022, with a multiplier effect of 10x. In other words, for every euro directly generated by URW centres, an additional €9 is generated in the economy.
A significant effect on the development of sustainable cities: -71% reduction of carbon emissions between 2015 and 2022 for the Group, with a multiplier effect of 18x. Thus, for each ton of reduction in URW’s direct emissions between 2015 and 2022 (scope 1 & 2), an additional 17 tons are reduced in the rest of the value chain (scope 3).
An important contribution to employment and social inclusion: 133,000 jobs supported by URW centres in Europe, with a multiplier effect of 66x. Creating a job at a URW centre supports 65 other jobs in Europe.
Lastly, an activity that contributes to the common good by promoting the general interest: 700 million annual visits, facilitating access to essential services and relaying public policies to a large, socio-economically diverse population. With 56 centres across Europe, URW offers a unique media platform to 7,900 retailers and 62 million unique visitors, representing 80% of the inhabitants of cities and 17% of the European population of the countries where URW operates.
This is the first time a commercial real estate company has published a report that measures its impact at a European, country and asset level. This study will help expand the conversation about our contribution to the vitality of cities and the development of retail, helping us increase our positive impact and continue building more sustainable and inclusive cities.
You can read the full report and discover its findings below.