Our Approach to Sustainability
VIA Outlets strongly believes that being a successful owner and operator of outlet centres should be underpinned by sustainability. For us, this means finding a balance between promoting the interests of our stakeholders, protecting the environment and being successful in our business. We do so by implementing measures that use natural resources efficiently, minimise waste and reduce harmful emissions as well as by creating a positive and healthy working environment. Through these measures, we aim to reduce costs associated with the consumption of materials and utilities, while also preparing our portfolio for a future in which regulations around sustainability will become more stringent and the physical impact of climate change will be felt more keenly than ever.
VIA Outlets is committed to ensuring that our assets are sustainably developed and managed to guarantee their long-term value. With the aim of continually improving our performance, we have developed several high-level policy objectives underpinning every aspect of our operations, as well as specific policies aimed at addressing each of our environmental externalities. VIA Outlets looks to achieve the following environmental objectives through our operational practices:
- To minimise the overall environmental and climate change related impact of our outlet centres.
- To ensure that our portfolio is resilient to physical climate change risks, including extreme weather events, and adaptable to changing climate conditions and consumer preferences.
- To reduce our impact on scarce natural resources by maximising our operational efficiency and increasing our use of sustainable materials.
- To prevent pollution and reduce harmful emissions by decreasing our energy consumption and reducing our waste generation.
- To continue to exceed guests’ expectations and provide superior value to our investors and brand partners by fostering green, healthy and aesthetically pleasing shopping and working environments.
- To meet legislative environmental sustainability requirements and strive to go beyond the minimum compliance level where possible.
Our six core environmental objectives are further supported by speci c policies that focus on key environmental performance indicators, such as energy and waste generation, material use, as well as wider environmental concerns, such as climate change and biodiversity. Through these policies, we look to put in place more sustainable practices throughout our portfolio.
At VIA Outlets, we recognise that our stakeholders are fundamental to our business, and therefore treating them well is key to our continued success. We want to understand the expectations, needs and concerns of everyone who is directly or indirectly involved in what we do. This means regularly engaging with our key stakeholders, including customers, local communities, investors, employees, suppliers and Government, to better understand and ultimately compliment the wider social, economic and environmental networks that we are a part of.
To this end, we have developed a policy that demonstrates our commitment, transparency and accountability to all of our stakeholders. At VIA Outlets, we are proud of our brand and the values we represent. As a result, we seek to practice and promote our values through effective policies based on positive engagement and open communication.
At VIA Outlets, we believe that responsible corporate governance is key to providing a safe and open working environment while also ensuring an exceptional quality of service and maintaining strong relationships with our stakeholders. Effective and responsible governance is based on both strong leadership and inclusive partnerships. Through our pledge to corporate governance, VIA Outlets strives to ensure that we take into consideration the wishes of all our stakeholders in a transparent and collaborative way.
Accordingly, the VIA Outlets Corporate Governance policy seeks to ensure that VIA Outlets complies with international and national legislation, labour regulations and treaties, while providing a working environment that protects our staff and allows them to thrive.
Achieve annual like-for-like energy and water reduction targets, and recycling improvement targets, across the portfolio:
- Achieve a 4% reduction in like-for-like common-parts energy consumption across the entire portfolio
- Achieve a 4% reduction in like-for-like common-parts water consumption across the entire portfolio
- Achieve a 4% increase in recycling in across the entire portfolio
Install sub-meters across 80% of the portfolio to better understand our consumption patterns.
Develop Sustainable Specification and Procurement Guidelines for all construction projects.
Install solar PV across selected centres in Iberia.
Prepare a plan to tackle the non-LED lighting across all centres.
Develop an EMS at selected centers (ISO 50001, ISO 14001, or equivalent).
Provide quarterly communication with tenants on VIA Outlet’s sustainability strategy.
Put together an Action Plan to improve the Health and Wellbeing of all tenants and employees.
Perform socio-economic assessments on at least two centres to understand the key issues to be tackled through our local community initiatives.
Perform a Climate Change Risk Analysis across the entire VIA Outlets portfolio and develop asset level recommendations
Carry out at least two pilot sustainability initiatives to raise awareness of responsible consumerism, and the implications of plastic pollution or energy reduction.
Long-term Goals 2025
We are working to reduce our foot-print, so we’ll work on our systems efficiency to aim until 2025 to:
- achieve a 20% reduction in like-for-like common-parts energy consumption across the entire portfolio;
- achieve a 20% reduction in like-for-like common-parts water consumption across the entire portfolio;
- achieve a 15% increase in recycling across the entire portfolio;
- generate at least 10% of the entirety of VIA Outlets common parts consumption from onsite solar PV.