Our Stakeholders
As a business, we have lots of different stakeholders – not just our investors, but also our tenants, visitors, employees, local government and, of course, visitors to our centers. We also have wider obligations to society as a whole: to operate as a responsible company, help protect the environment, and support sustainable economic development.
Ultimately, our aim is to create value for all our main stakeholder groups. That’s why we work closely with our stakeholders: to understand their expectations, to listen to them and to use their feedback to improve the services we offer. We welcome all suggestions and comments from stakeholders. You can get in touch with us at: sustainability@wereldhave.com
Creating value for our stakeholders
Background to value creation
We create value in a number of ways - through our investments in property, or through our business or employment practices. This value may be financial in nature - when we pay dividens to our shareholders, for example. Or it may be social - our centers offer access to vital services, to shops, healthcare and entertainment. We also see our centers as social hubs for local communities. Like any company, however, we may also deplete value. Our centers consume energy and natural resources. Through our tenants we are also part of wider value chains - producing and selling clothes or cosmetics, for example. It is important that we understand the effects our business has on society, both positive and negative - so we can maximize the value we create for our stakeholders.
Who do we create value for?
We have a number of different stakeholders - these include tenants, investors, business partners and the local communities in which we operate. Our aim is to create value for each of these groups, though we realize of course that we ofthen have to balance contending expectations - where, in creating value for one group, we may reduce value for another. Ultimately, our "social license to operate" depends on our creating long-term value for sociaty as a whole. We have five main stakeholder groups (set out in the table underneath): tenats & investors, employees & contractors, investors, society and business partners).
We also create broader value for society as a whole. Through our investments, we support local economic growth and job creation. And we work hard to reduce our impact on the environment – to cut back on waste, and lower our carbon emissions.
Stakeholder map
| Stakeholder group | Expectations | Relationship |
|---|---|---|
| Tenants & visitors (retailers and visitors to our centers) | • Attractive local market or catchment (footfall) • High standard of services within centers • Easy access via public transport and free parking • Clean, pleasant and comfortable environment • Right mix of food and other retail, leisure & entertainment, fashion, health & beauty etc. | Through our centers, we offer visitors a one-stop location for groceries, retail, leisure, fitness, healthcare and work – this also provides footfall for our tenants. |
| Employees & contractors (employees, temporary staff, and outside contractors) | • Safe, professional and inclusive working environment • Fair remuneration • Opportunities for training and career development | Our employees and contractors invest their time, skills and expertise in our business – in return, we provide salaries, fees and other benefits. We also offer regular training to improve skills and knowledge. |
| Investors (shareholders and financiers) | • Attractive total return on investment • Effective governance and decision-making • Clear communications to financial markets | Investors provide us with financial capital to operate our business – they receive cash returns through interest and dividends – and benefit from investments to increase the value of our centers. |
| Society (local communities, municipalities, public transport operators) | • Centers acting as social hubs for local communities and activities • Compliance with all relevant laws and regulations • Protection of local environment and biodiversity • Job creation and support for local businesses • Payment of local and country taxes • Support for local community projects and initiatives | Society provides our license to operate – in return, we support local communities, care for the environment, by reducing waste and carbon emissions at our centers. |
| Business partners (joint venture partners and suppliers of goods and services) | • Prompt payment for services provided • Constructive, long-term partnership • Opportunities for further business development | We buy goods and services from external suppliers in areas such as building maintenance, security and cleaning – alongside payments, we offer suppliers opportunities to grow and develop their businesses. |
