Targets 2008/2009 | Annual Report 2008

Targets 2008/2009


Economic targets	Period	Type	Notes
The selection criteria for the acquisition of new shopping centres (> 10,000 m2) will take the sustainability performance and the potential for improvements in consideration.	Continuous	Policy target	Sustainability performance and relevant potential for improvements were taken into account in decisions on acquisitions and (re)developing centres in 2008.
Corio shall periodically inform employees, via a newsletter, of its CSR policy and activities in order to increase CSR awareness within the organisation.	Continuous	Performance target	In 2008 the periodically distributing of a newsletter started.
Corio shall periodically inform financial stakeholders on its sustainability performance in reports, meetings and presentations.	Continuous	Performance target	Corio’s financial stakeholders were periodically informed about CSR in presentations given to shareholders and the press/analysts. Corio gave various presentations to external parties on CSR and the results thereof within the organisation in 2008.
Corio will examine the potential for improving the sustainability performance of the shopping centres it manages with gross lettable areas of at least 10,000 m2.	2008 – 2010	Performance target	Corio prepared a description of the 10 most important criteria for a sustainable shopping centre in Corio’s portfolio. The degree of sustainability of shopping centres will be determined by this list in 2009. In 2008 there was a start with labelling the shopping centres operating in the Netherlands and France. The labelling will continue in 2009. Bureau Veritas studied the sustainability of the French store portfolio and issued recommendations.
Corio will examine the possibilities and determining the requirements to be met for developing a number of new, sustainable shopping centres.	2008 – 2010	Performance target	Using the BREEAM standard (see the information provided in the box elsewhere in this section) Corio has specified the 10 most important criteria to be met by sustainable shopping centres in its portfolio. This list is also used as a standard for measuring the sustainability of new shopping centres planned for development.
Corio will subscribe to the principles of the United Nations Global Compact and the guidelines of OECD and ILO guidelines for multinational enterprises.	2008	Policy target	Corio has subscribed to the Global Compact by signing the Letter of Commitment. Corio endorses the principles of ILO and OECD and amplifies this on its website.
In each business unit Corio will set up a committee with primary responsibility for structuring and developing CSR within the organisation.	2008	Performance target	In each business unit a CSR committee is set up in which Corio employees serve with expertise on technolgy, facility management, HRM and centermanagement.
Revising the code of conduct.	2009 – 2010	Policy target	CSR issues such as the values underlying Corio’s activities, the attention devoted to and relationships with its stakeholders and environmental awareness within the organisation will be included in the revised code of conduct.
To perform a values study among Corio employees.	2009	Performance target	To specify and analyse the quality of the general values and standards applying within Corio. These can then be developed and integrated into the code of conduct.
Internal audit of the reporting system.	2009 – 2010	Performance target	All information concerning the offices and shopping centres will be assessed at head office, based on an internal audit.
Preparing and publishing of a Communication on Progress.	2009 - 2010	Performance target	As part of the process involved in signing the United Nations Global Compact.


Stakeholder targets	Period	Type	Notes
Formalising the dialogue that Corio has with its stakeholders into a policy so as to optimise the centres and services.	Continuous	Policy target
Promoting health and safety in and around centres of more than 10,000 m2.	Continuous	Performance target
Preparing a structured description of contacts with the stakeholders relevant to our operations and to establish procedures for handling complaints.	2009 - 2011	Performance target
In the shopping centres in its portfolio with gross lettable areas of over 10,000 m2, Corio will incorporate the results of the sustainability satisfaction surveys among tenants and visitors into its (CSR) policy.	Continuous	Performance target Monitoring target Policy target	Corio frequently conducts client satisfaction surveys in centres of over 10,000 m2. Sustainability was not included in these surveys in 2008. Focus is on this issue and consequently included her targets for 2009.
Corio shall periodically communicate the key elements of CSR policy and relevant CSR activities, such as those relating to energy, water and waste, to shopping centre tenants.	Continuous	Performance target	In 2008 it was decided first to establish which CSR activities add value for tenants and then to communicate this information. This will be implemented in 2009.


Community involvement targets	Period	Type	Notes
Corio will donate used equipment so as to contribute to the continuity of charitable or other similar organisations and schools.	Continuous	Performance target	Corio donates used cartridges and old telephones to organisations that receive money for them. On request, Corio also regularly donates used IT equipment to parties able to make use of it.
Corio will select a good cause to which it can contribute both money and time.	2008 – 2009	Performance target	We have selected ‘children’s development’ as the general theme for these activities, but have still to decide on a specific fund or charity.
Corio will ensure a pleasant environment in and around its shopping centres so that they are ‘clean, secure and complete’.	Continuous	Policy target	The ‘clean, secure and complete’ philosophy is a very important part within the hands-on centre management concept developed by Corio. Corio is consequently determined to set high standards for these three elements in its centres. Technical installations, such as lifts and sprinkler systems, are properly certified in line with statutory requirements, but Corio also conducts regular checks of escalators and moving walkways and awards them quality marks, even when not required by law. Corio also provides people and resources for a range of initiatives relating to safe business practices.
Corio will provide temporary space in/ around its shopping centres for public services and amenities and for social welfare purposes relevant to local residents. These activities will focus primarily on promoting children and adults’ development by providing educational and job opportunities.	Continuous	Performance target	Corio Italia provides space for fundraising by organisations such as Unicef, AVIS (blood donor service), AIDO (organ donation service), the Red Cross and ANLAIDS (an AIDS charity). Corio France provides space in the Grand’Place shopping centre for a jobs market for the long-term unemployed. The Maremagnum centre in Spain provided space for various organisations involved in improving the integration of young people from higher-risk backgrounds into society.
Corio will use (some of) the proceeds of activities arranged in its shopping centres to sponsor relevant local bodies and associations.	Continuous	Performance target	Corio sees community involvement as a way of establishing long-term, sustainable relationships with visitors and local residents and also with local authorities and other government agencies. In 2008 we once again provided financial support to various organisations and associations.
Contributing to the development of children by taking local children around the shopping centres to get them interested in CSR issues. To develop information packages.	Continuous	Performance target
Corio employees are keen to share their property knowledge and expertise with other groups in Europe, such as school pupils and students. They also want to apply this knowledge and expertise in property-related projects with a social purpose in our emerging markets.	Continuous	Performance target
Corio will monitor employment in its shopping centres.	Continuous	Performance target


HRM targets	Period	Type	Notes
Corio will continue to refine its HRM policy and report on progress.	Continuous	Policy target	In 2008 Corio continued refining its HRM policy. The HRM policy objectives are stated in the text of the CSR section in this report, and the policy will be published in full on the Corio website.
Corio will strive to limit staff turnover in relative terms.	Continuous	Performance target	The HRM departments in all the business units are devoting attention to this issue. The relevant information was not available for all parts of Corio in 2008. The 2009 reporting will include information on the staff turnover rate compared with 2008.
Corio remains committed to equal treatment of employees with regard to all aspects of working for Corio.	Continuous	Policy target	Corio is committed to equal treatment of its employees in all aspects of its work. This is reflected in all HRM activities, including selection procedures, training, remuneration and promotion. This equal treatment applies in respect of age, gender, sexual orientation, marital status, disability, skin colour, racial or ethnic origins and nationality.
To provide more information on our workforce, including its composition, people recruited, promoted within and leaving the organisation, illness-related absenteeism, education, training and remuneration.	Continuous	Performance target	Corio seeks to provide transparency for stakeholders with regard to all facets of its workforce.
To facilitate opportunities for employee training so that all employees can undertake training relevant to Corio’s business activities.	Continuous	Performance target	By facilitating workshops, courses and other forms of training, Corio contributes to the personal and professional development of its workforce, which is of great value to the organisation.
To conduct a satisfaction survey among employees.	2009 – 2010	Monitoring target	Corio wants to remain an attractive employer for its employees and so will periodically conduct satisfaction surveys and make any changes necessary.


Climate change targets	Period	Type	Notes
Corio will reduce or offset the impact of air travel by means of tree planting schemes. It will also use conference calls and video-conferencing to limit the number of flights made.	Continuous	Performance target	In 2008, the CO2 emissions on all business flights by Corio employees were calculated. These emissions were offset by investments in sustainable energy projects and by planting trees in sustainable FSC-certified forests.
Corio will examine opportunities to improve energy efficiency and increase the proportion of renewable energy used at shopping centres in its portfolio with gross lettable areas of over 10,000 m2.	Continuous	Performance target	These opportunities have been investigated in most of the shopping centres of over 10,000 m2 which will be followed up on in 2009.
Corio will set up a reporting system to monitor and record the energy consumption of shopping centres in its portfolio with gross lettable areas of over 10,000 m2.	2008	Performance target	This system was set up in 2008 and then assessed, adjusted and used to record consumption figures for the year.
To formulate an environmental management policy for the whole of the Corio organisation.	Continuous	Policy target
To extend the group-wide policy for dealing with climate change.	Continuous	Policy target	To extend and refine the policy set in 2008.
To extend the group-wide policy on energy.	Continuous	Policy target	To extend and refine the policy set in 2008.
To devise an environmental information package for tenants.	Continuous	Performance target
To record our environmental policy during development/ redevelopment processes.	Continuous	Policy target
To reduce emissions attributable to Corio employees’ home-work travel.	Continuous	Performance target
To complete the reporting system for each shopping centre > 10,000 m2.	Continuous	Monitoring target


Water target	Period	Type	Notes
Corio will set up a reporting system to monitor and record the water consumption of shopping centres in its portfolio with gross lettable areas of over 10,000 m2.	2008	Performance target	This system was set up in 2008 and then assessed, adjusted and used to record consumption figures for the year.
To extend the group-wide policy on water consumption.	Continuous	Policy target	To extend and refine the policy set in 2008.
To formulate views on biodiversity.	Continuous	Performance target
To complete the reporting system for each shopping centre of over 10,000 m2.	Continuous	Monitoring target


Waste target	Period	Type	Notes
Corio will look into opportunities for reducing waste at the shopping centres it manages with gross lettable areas > 10,000 m2.	2008 – 2011	Performance target	In 2008, Corio committed itself to a reporting system to establish transparency on the electricity and water consumption and waste production of the shopping centres in its portfolio. The insight as obtained in 2007 and 2008 will be used as the basis for determining opportunities for further reductions in 2009.
To extend the group-wide policy on waste.	Continuous	Policy target	To extend and refine the policy set in 2008.
To ensure that waste in all shopping centres > 10,000 m2 is separated into origin: glass/plastic/paper/chemical and refuse.	Continuous	Performance target
To complete the reporting system for each shopping centre > 10,000 m2.	Continuous	Monitoring target


Sustainability target	Period	Type
To prepare an inventory of the extent to which shopping centres > 10,000 m2 comply with the minimal sustainability standards set in 2008. These standards are detailed elsewhere in this section under the heading of ‘Sustainability’.	Continuous	Performance target

Source: Annual Report 2008, Chapter Corporate_Social_Responsibility, page 146 (PDF, 160 kB)

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