The latest ESG report reflects Sierra Balmain’s commitment to sustainable development, social responsibility, and transparent corporate governance in 2024. Each section of the report details the company’s achievements in these areas.
Environmental commitment
Sierra Balmain implements practices to reduce its carbon footprint, protect natural resources, and improve energy efficiency in its offices, day-to-day operations, and managed shopping centers. Efforts include comprehensive recycling programs, energy and water conservation, using eco-friendly materials, reducing paper consumption, and employing natural cleaning products. Energy monitoring has led to a 10% reduction in water usage and a 19% decrease in energy consumption at the office.
The company also emphasizes sustainable development in the shopping centers it manages. Initiatives include LED lighting upgrades, modernized HVAC systems for improved energy efficiency, boiler replacements with more efficient heat sources, switching from gas to district heating, and enhanced BMS systems. Additionally, the company promotes sustainable transportation by installing EV charging stations and bike racks at its shopping centers. These efforts have resulted in multiple shopping centers earning BREEAM green building certifications.
“The real estate sector is one of the most significant contributors to carbon emissions, posing significant challenges in combating climate change. At Sierra Balmain, we are fully aware of the environmental impact of our shopping centers and office buildings and their role in global emissions. That’s why reducing our carbon footprint and energy consumption is a top priority. In 2024 alone, our actions achieved a further 10% reduction in electricity consumption, totaling a 50% decrease over the last five years. Gas and heating usage dropped by 15%, amounting to a 30% reduction over the same period” - said Dorota Suchodolska, Head of Property Management Operations at Sierra Balmain.
Social Concern
The report also reviews various people-focused initiatives targeting employees and communities. The company employs an equal opportunity recruitment model, promoting diversity and eliminating discrimination. It offers flexible hybrid work arrangements and comfortable offices designed to enhance well-being and productivity. Sierra Balmain supports career development through regular training, financial support for courses, educational leave, and prioritizing internal candidates for open positions. The company emphasizes its concern over employees and ensures comprehensive family support policies, including maternity, paternity, parental, and childcare leave, recognizing the importance of a work-life balance.
The report also summarizes numerous initiatives supporting the local community and its needs. Community-focused initiatives include youth development workshops at Nowy Rynek, creative programs for mothers and children at Turzyn shopping center, and cultural projects like art exhibitions at Osowa Shopping Center and the unique “Balustrada Gallery” concept at Turzyn. Socially responsible actions include also tabletop sales, clothing and accessory swaps, regularly organized across locations, e.g. in Osowa Shopping Center, Pasaż Łódzki, Galeria Pomorska, and Galeria nad Jeziorem, food-sharing fridges in Borek shopping center and Arena retail park, and recycling machines in Pasaż Łódzki and bottle reclaim machine in Arena retail park. Charitable efforts include involvement in the Great Orchestra of Christmas Charity (WOŚP) by venues like Galeria nad Jeziorem and Pasaż Łódzki.
“We view shopping centers as more than just places for shopping. They are integral parts of urban communities, providing spaces for meetings, growth, and integration. We believe that every initiative we undertake creates lasting value for local residents. We are deeply committed to supporting these communities, aligning with their needs and social trends that drive a sustainable future” - said Anita Mieszkowska, Marketing Manager at Sierra Balmain.
For Governance
Sierra Balmain emphasizes maintaining the highest ethical standards in its management practices, rooted in transparency, accountability, and integrity. Actions listed in the report include implementing strong internal control mechanisms and ensuring legal compliance in Poland and the EU, particularly in accounting and tax matters. The company monitors and takes a sustainable approach to risk management while ensuring full regulatory transparency.
“As one of the leading companies in the commercial real estate market, we recognize the significant impact we have on the communities and ecosystems in which we operate. That’s why we strive to set industry benchmarks for ESG practices, responsibly and sustainably supporting the environment, employees, communities, and governance. Each of these areas forms a vital pillar of our business strategy” - summarized Aleksandra Mazzini, Chief Operating Officer at Sierra Balmain.
This is the second ESG report presented by Sierra Balmain. It not only provides a detailed account of the company’s achievements over the past year but also outlines future goals. Plans for 2025 include the full implementation of LED lighting in common areas of shopping centers, indoor parking facilities, and building components. Additionally, the company aims to further modernize BMS systems in buildings, targeting a 21% upgrade.
