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Centro Vasco da Gama. Credit: Sonae Sierra

Sonae Sierra avoided costs of €15 million in 2020 by implementing eco-efficiency measures

The Company has reduced its CO2 emissions by 84% since 2005 and electricity consumption by 66% since 2002.

In a year marked by an unprecedented health crisis, Sonae Sierra’s sustainable management enabled the Company to avoid €15 million in operating costs, demonstrating the value created by implementing energy, water and waste management measures across its assets.For more than two decades, Sonae Sierra has integrated sustainability into its business strategy, which has translated into the intelligent and eco-efficient management of natural resources and the improvement of health and safety conditions.Compared to 2002, the Company has reduced its electricity consumption by 66% and increased the percentage of waste recycling by 223%. Since 2003, Sonae Sierra has reduced water consumption by 32% and, since 2005, has reduced its CO2 emissions by 84%.The year 2020 marks the evolution of Sonae Sierra’s sustainability strategy which, from 2021, focuses on two priorities.

These include:
A resilient urban environment – With this strategic priority, the Company wants to guarantee the human and business needs of the cities of the future, ensuring their continuity, by making operations sustainable and buildings resilient, through sustainability solutions and the inclusion of responsible investment criteria.

Safe, healthy and involved employees – With this strategic priority, Sonae Sierra wants to ensure a diverse, inclusive and committed workforce, guaranteeing the development of skills and productivity in a safe, healthy and empowering culture.

Elsa Monteiro, Head of Sustainability at Sonae Sierra, explains: “The Company’s sustainability strategy has evolved. It remains at the centre of our business strategy, including the goal to develop solutions that create shared value for the Company, the environment and society, but it broadens the focus to the wider urban space, and not specifically retail real estate. On the other hand, it also expands in ambition for its employees, placing gender equality and talent retention as priorities, in addition to what has already been implemented for the safety, health and motivation of employees. The Company also intends to raise the awareness of employees, customers, partners and other stakeholders of the need to join forces to respond to climate change, setting the target of carbon neutrality for 2040, anticipating the European Commission’s goal by 10 years.”