A new independent organization, the Sustainable Retail Index Association, has been launched by Unibail-Rodamco-Westfield (URW) and Ingka Centres to establish a common standard for measuring and improving sustainability within the retail real estate sector.
The association aims to provide retail landlords with insights into tenant sustainability performance, fostering measurable progress and greater transparency. Sonae Sierra has also joined the initiative as a founding member, signaling a broader industry commitment to sustainable practices.
The Sustainable Retail Index (SRI), which underpins the association’s work, is a collaborative assessment tool designed to evaluate sustainability commitments and performance across a company’s operations, products, and overall strategy. URW began implementing the index in 2023, and it currently covers 73% of eligible revenues within its shopping centre portfolio. The index is intended to facilitate dialogue between landlords and retailers, identify areas for improvement, and engage consumers with sustainable choices.
Ingka Centres, the shopping centre arm of Ingka Group – the largest IKEA retailer – has deployed the SRI across its 38 “meeting places” in 15 markets. The company has a long-standing focus on mapping and improving the sustainability impact of its properties.
Great On You, a globally recognized brand ratings platform specializing in fashion and beauty, serves as the lead data partner for the SRI. According to the company, its independent data constitutes 75% of the index’s calculation, drawing on over 1,000 data points per brand to assess social and environmental impacts. The remaining 25% is derived from third-party audits of in-store practices.
WWF France provides technical and methodological expertise to the SRI Association, contributing to the rigor and transparency of the index. The organization also acts as a civil society representative, monitoring the index’s results without certifying the performance of individual retailers or assets.
The Sustainable Retail Index Association is now accepting applications from other stakeholders interested in joining the initiative. Further information is available on the association’s website at www.sriassociation.org.
URW, which operates over 900 million customer visits annually across its portfolio of retail destinations, has been recognized as a sustainability leader, ranking among the 100 most sustainable companies globally. Ingka Centres hosts over 320 million visitors each year across its 38 meeting places, emphasizing collaboration with local communities and tenants.
