Sustainability-Linked Bonds
FibraShop depends on natural resources for the activities carried out in each of its properties. The resilience of these resources and environmental processes is essential to our ability to create value and generate financial returns. We share the responsibility of reducing the environmental impact of our business activities, and our goal is to ensure that resources are used sustainably.
Our Environmental Policy establishes our objective of transforming the shopping center market toward a sustainable future, engaging our employees and contributing positively to the environment and the communities where we operate through the following approach:
- Management and mitigation of environmental impacts derived from our operations, as well as reduction of water and energy consumption.
- Reduction of Greenhouse Gas (GHG) emissions to comply with the Paris Agreement.
- Identification and response to physical risks related to climate change in our properties, based on TCFD recommendations.
- Compliance with legal environmental requirements.
Energy costs represent a challenge for the real estate sector and for FibraShop’s stakeholders. Through improvements in energy efficiency, we aim to reduce operating costs across our assets, lower energy requirements for our tenants, and reduce GHG emissions.
Energy Goals:
At FibraShop, we are committed to protecting the environment. As part of our priority SDGs, we have set ambitious, quantifiable, and measurable goals that we believe have a significant impact on reducing our energy consumption and, consequently, contribute positively to mitigating climate change and lowering GHG emissions.
Our goals are:
- Reduce energy intensity by 45% by 2024.
- Generate at least 45% of our energy consumption from renewable sources by 2024.
- Achieve 100% LED lighting in all our properties by 2024.
To achieve the second goal, we are continuing the project launched in 2019 focused on significantly reducing our energy consumption and the associated operating costs. Given the lighting conditions and available space for installation, the project was structured in phases. In the first phase, four properties were selected, which are currently in operation and generate approximately 13% of FibraShop’s total annual energy consumption.
Starting from the remainder of this year and continuing through next year, additional solar panels will be installed across 13 properties. The project will be carried out over 52 weeks, covering installation, testing, and final operation, with an estimated investment of 100 million pesos. Once installed and operational, the total photovoltaic system will be capable of generating up to 52.6% of the annual energy consumed, equivalent to more than 11.8 million kWh per year—resulting in a significant reduction in GHG emissions.