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Multi Mall Management Portugal Corporate Sustainability Report of 2010 presents an overview about implementation over the MMMP Sustainability Strategy, the Governance Model for the Sustainability Management, the Business Principles and the most common practices at our Shopping Centres. Miguel Kreiseler was the draftsman.
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2010
SUSTAINABILITY REPORT
MULTI MALL MANAGEMENTPORTUGAL
VS. 01
01 OUR BUSINESS 8
02 OUR SUSTAINABILITY STRATEGY 18
03 INTEGRATED MANAGEMENT PRACTICES AND RESULTS 30
03.1 ECONOMIC PERFORMANCE 31
03.2 VALUING OUR VISITORS, PARTNERS AND CUSTOMERS 3603.2.1 PARTNERSHIP WITH THE OWNER 4403.2.2 ENGAGEMENT WITH VISITORS 4603.2.3 PARTNERSHIP WITH TENANTS 5003.2.4 THE WIDER CENTRE TEAM 53
03.3 VALUING THE ENVIRONMENT 5603.4 VALUING PEOPLE 7003.5 VALUING THE COMMUNITY 7803.6 OPERATIONAL SUSTAINABILITY PLAN 8803.7 IMPLEMENTATION OF THE SUSTAINABILITY STRATEGY ACCORDING TO AA1000 APS STANDARD AND GRI PRINCIPLES 96
ANNEX 103
MAIN ISSUES AND CONCERNSIDENTIFIED BY THE MANAGEMENT OF EACH CENTRE IN 2010 103METHODOLOGICAL NOTES 107GRI TABLE 113ASSURANCE STATEMENT 125
INDEX
SUSTAINABILITY REPORT
MULTI MALL MANAGEMENTPORTUGAL
VS. 01
2010
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Dear Staff, Owners, Tenants and Partners,
It is with renewed pleasure that Multi Mall Management Portugal (MMM P) presents its Sustainability Report, pertaining to the performance during 2010.
The path we have walked together, which was outlined in our 2008 Sustainability Strategy and Policy, is halfway through the implementation of the first Operational Sustainability Plan, which will end in 2012. With a broad view of our strategic and relevant objectives, we keep a close look by carrying out measures that will allow us to satisfy the needs and expectations of our stakeholders and, at the same time to increase the value of our company.
Matias LopesManaging Director
Multi Mall Management Portugal
P. 5
Our ambition for excellence, together with the passion we have for our work and the sense of responsibility we have developed over the assets under our management, have made it possible for us to maintain the company and the various interests of the stakeholders during a period of high global economic instability specially in the sector of the economy in which we participate.
Our efforts to generate value and to renew the trust placed
in MMM P consisted of a complementary strategy to balance
the need to invest in the relation with the visitors in order to
provide them with unique moments of satisfaction and high
levels of comfort, with maintaining an adaptable, strict and
careful management of the resources. This strategy foresees
an improvement of the tenants’ performance through an
adjustment in their direct costs, and by working closely with
the various owners in order to keep the necessary profits we
can contribute to the maintenance of their investments. In
the face of an unstable circumstance we are want to keep
the quality of our service, by investing in knowledge and
by striving to bring innovation to the core of our activity, so
that we can, through our sustainability policy, continue to
manage the future with confidence.
The work carried out by our teams in 2010 gives us the
ability to present a set of important results, which are
spread throughout this third sustainability report, however
some results deserve special mention, it is with sincere
pride that I mention that Almada Forum has obtained EMAS
certification, due to the excellence of the Environmental
management done by MMM P, which made it the first
shopping centre in Europe to have this distinction. Every
centre under our management obtained energy certification
and we initiated the process of integrated certification (of
the quality management, environmental and safety systems)
which will improve the management and organization of the
centres in strategic matters. Even though the execution of
the Operational Plan was slowed down and some objectives
were reformulated or delayed, we began to report the safety
indicators and committed ourselves to the implementation
of the pilot-project Multistakeholder Group 2, called CALL,
in order to involve the local community in the carrying out
of our sustainability strategy. With this project, which we
want to spread in 2011 to every centre that we manage, we
supported in the Christmas Campaign of Forum Algarve the
“Alta Segura” project promoted by APSI, which reinforced
our relations with the local community and the role of the
shopping centre in the city where it is located. We began our
activity in Braga with the management of the Braga Retail
Centre and we prepared the opening of the future Forum
Sintra.
Our efforts resulted in some relevant improvements,
particularly in indicators such the increase of employee
training by 15.7% or regarding hygiene and safety in
the workplace, there were no accidents or work related
diseases and our employees had a low absenteeism rate.
We managed to reduce water and energy costs by 5.9% and
8.4%, respectively in comparable amounts and increased
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waste recycling. The satisfaction indicators of the Visitors
remained practically the same. We supported the community
with 406 thousand Euros in 2010. We continued or finished
31 of the 51 actions we had planned. Those that were not
started were eliminated from the Plan either because they
do not make sense in the current context of the organization
or because they have been transferred to the following years
(2011 e 2012). These delays were made after pondering
the responsiveness of the company and the priority of the
topics. Some of the actions removed from the plan were
the introduction of security clauses in the management of
the centres (service providers) and the evaluation of the job
centre courses for the training needs of a shopping centre.
Two of the actions delayed were the execution of evaluation
and training regarding human rights (including child, forced
and excessive labour) to the service providers and the
development of the “Green Travel Plans” of the shopping
centres (see 03.6 Operational Sustainability Plan).
During the next years we want to maintain MMMP’s status as
the leading company in the shopping centre management
sector, by solidifying our commitment to sustainability and
the relations of trust we have with our stakeholders. To this
effect, we will consult with our external stakeholders again
in 2012, reformulate our Operational Plan and define the
objectives for the next strategy cycle. This work will further
strengthen the bonds that unite us, allowing us to align our
shared interests, and thus reinforcing our relations and the
work we carry out together. People will always come first.
And it is because they are our passion, and the reason why we
exist, that we want to continue to provide magical moments
to each one and transform every visit into an experience that
must be repeated.
Throughout this report, which was made according to the
Global Reporting Initiative (G3) level B+ and was verified to
the principles of the AA 1000 APS (2008) standard, we want
to transparently show the road that is still to be travelled, and
also show that our commitment and our actions, respecting
people, the market and the environment, that is recorded
in our DNA, will allow us to succeed and to manage with
confidence a future that is shared by every one of You.
P. 7
P. 8
Contracts with
1.139 Tenants
MMM P’s portfolio
324.280 m2
78,7 millionvisitors
01 OUR BUSINESS
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01 OUR BUSINESS
01
Multi Mall Management Portugal (MMM P) is a company spe-
cialized in the management of shopping centres. It is part of
the Multi Corporation Group and its portfolio mainly includes
projects promoted by Multi Development.
Our objective is to maximize the value of the shopping cen-
tres under our management and work to achieve a varied
and balanced commercial presence (tenant-mix), according
to our knowledge of the market and to the available eco-
nomic indicators.
During our daily management we seek to minimize the main
negative environmental and social impacts, this way adding
value to our business and, consequently to our stakehold-
ers - tenants, visitors, owners, employees, suppliers, service
providers and the community.
P. 9
VALUES
VISION
MISSION
Ambition
for Excellence
Passion
Trust
Innovation
Responsability
Knowledge
Be the reference of the best sustrainability practices in the asset management Market
Create value for the real state assets that we are managing, considering the interests and concerns of our main stakeholders, namely, visitors, shopkeepers, owners, local community local and business partners. Share our know how and experience with all the European MMM
1 This number includes the 2 Retail Parks (Braga Retail Centre and Parque Mondego) and
the 10 shopping centres (F Aveiro, A Chiado, F Algarve, Almada F, F Montijo, W Shopping,
F Madeira, F Coimbra, F Viseu and Espaço Guimarães). They do not include the Galeria
Feira Nova in Sintra or the Arquiparque II offices.
Throughout its 14 years of activity in Portugal MMM P has
been building its set of shopping centres, which amount to
approximately 324 thousand m2 distributed across 12 shop-
ping centres. In 2010, we had 1.139 contracts with tenants
and we received 78.7 million visitors in the businesses under
our management.1
VALUES, VISION AND MISSION
GRA.
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01
02
03
04
05
07
06
08
10
11
1210
FORUMAVEIRO
01
BRAGARETAILCENTER
12
ARMAZÉNSDO CHIADO
02
WSHOPPING
11
FORUMALGARVE
03
FORUMMADEIRA
07
FORUMVISEU
08
ALMADAFORUM
05
ESPAÇOGUIMARÃES
10
FORUMCOIMBRA
09
PARQUEMONDEGORETAIL PARK
04
FORUMMONTIJO
06
2 Every amount mentioned in this report, except for the totals in this chapter, does not
include the amounts of Braga Retail Centre.
In addition to the 12 shopping centres, we manage the
Galerias Comerciais Feira Nova Sintra. However, given their
marginal significance in our portfolio they were excluded
from the scope of this report. They will be added in 2011,
when their current renovation is completed and they be-
come Forum Sintra.
In 2010 MMM P began managing Braga Retail Centre, and
therefore it is included in our portfolio 2. Forum Castelo Bran-
co and Forum Barreiro were not included in this report be-
cause they were already not under our management by the
end of 2010.
OUR PORTFOLIO OF ASSETS UNDER MANAGEMENT
MAPA
P. 1
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Forum Aveiro
Opening Date
September 1998 MIPIM AWARD 99For best Shopping Centre in Europe and a commendation by the International Council of Shopping Centres (ICSC).
Armazénsdo Chiado
Opening Date
October 1999 Restoration Project Which was part of the revitalization of Chiado after the fire in 1988, designed by the architect Siza Vieira, in collaboration with the architects Joan Busquets and Souto Moura. It contributed greatly to the revival of this area of Lisbon. In 2000, it was awarded by ICSC the title of best small Shopping Centre.
Forum Algarve
Opening Date
March 2001 Honourable Mentionin 2002 it received an honourable mention from the International Council of Shopping Centres (ICSC-Europe), in the category of best large Shopping Centre in Europe. Afterwards it was also awarded by ICSC, a Certificate of Merit for innovation in the Design and Construction of a New Project (2003).
Almada Forum
Opening Date
September 2002 MIPIM 2003 Award Which gives it the title of Best Shopping Centre in Europe. It also received an Honourable Mention at the 2003 ICSC awards, in the category of best large Shopping Centre. In 2004 Almada Forum also received the ICSC “Full Design Award”.
Parque MondegoRetail Park
Opening Date
July 2002 Innovating concept of Retail Park in Portugal.
Forum Viseu
Opening Date
October 2005 Urban Renewal and the Environmental Development The construction of the centre promoted the urban renewal and the environmental development of part of the Rio Pavia shore. Of particular merit are the way the centre blends into the city’s historic centre and its wide range of products and services.
ForumMadeira
Opening Date
April 2005 76 Tenants23 local entrepreneurs (30% of the total retail area)
New Hub Combines elements of the typical regional architecture, establishing itself as a new hub for the population of this region and as a driving force in the local economy.
ForumMontijo
Opening Date
April 2003 First shopping centre in Europe to obtain environmental certification to standard ISO 14001.
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Espaço Guimarães
Opening Date
November 2009 Last project to join MMM P’s portfolio, located in an eminent area hungry for a leisure and modern retail outlet.
BragaRetail Center
Management by MMM started on
September 2010 Braga Retail Centre is a Retail Park inserted in a highly dynamic commercial area and it is located near other large complementary shopping centres. Its architecture was designed by Broadway Malyan.
Forum Coimbra
Opening Date
April 2006 ICSC 2007 AwardWhich gave it the title of Best Shopping Centre in Europe.
the ICSC Solal Marketing Awards are awarded annually by the International Council for Shopping Centres as a way of recognizing marketing activities that stand out from others implemented by peers throughout Europe. This year the award ceremony took place in Lisbon.
MMM P was granted EMAS certification (Eco-Management and Audit Scheme) for the management of Almada Forum. This certification represents the Excellence, Performance, Credibility and Transparency of our management. Almada Forum became the first Shopping Centre in Europe to obtain this certificate.
MMM PIn 2010, MMM P won two Solal Silver Awards in the category of Consumer and Trade Advertising for the Barreiro event by MTV – “From Grey to Rainbow” in Forum Barreiro, and in the category of Public Relations for creating the MTV Play Love event – Best Kiss of the Season in Armazéns do Chiado, both of these campaigns were made in 2009.
Armazénsdo Chiado The event and the campaign developed by Armazéns do Chiado which was called MTV Best Kiss of the Season won one Solal Silver Award. This event brought loving couples to Armazéns do Chiado, who on Valentine’s Day accepted the challenge of giving the best kiss of the season in front of the MTV cameras.
ALMADAFORUMIt means that Almada Forum achieves a level of excellence on the Environment. This certificate adds to the commitment to communicate, negotiate and sensitize, clearly and objectively, to all Parties involved - Investors, Tenants, Customers and the Community.
ICSC Solal Marketing Awards
2010Recognition
EMAS
W ShoppingOpening Date
October 2003 12.600 m2
(gross leasable area)
Biggest centre in the Santarém district.
It provides distinctive products and services.
SolalSilver2009
P. 1
3
T+T Design ChairmanHans van Veggel
Chief ExecutiveOcerGlenn Aaronson
Southern EuropeBenno van Veggel
Central Eastern EuropeGlenn Aaronson
United KingdomGlenn Aaronson
United Kingdom & IrelandPaul Sargent
TurkeyHulusi BelgüCem Bodur
Czech RepublicRonald Dasbach
PolandRonald Dasbach
UkraineRonald Dasbach
PortugalBenno van Veggel
SpainBenno van Veggel
ItalyPaoloTassi
NetherlandsHeinoVink
BelgiumHeinoVink
FranceHeinoVink
Asset ManagementArie den Hartog
MallManagementMatias Lopes
MallManagementLuís Miguel Pereira
Feasibility &Investment
Germany/SwitzerlandAxel Funke
CentralEuropeRonald Dasbach
Western Europe
ChiefInvestmentOcerEric vanDuren
MallManagement
Legal A�airs& HR MgtJochen Bla�ert
Chief FinancialOcerMark van der Berg
Marketing &CommunicationMarkCunningham
ORGANIZATIONAL STRUCTURE OF THE MULTI CORPORATION GROUP ORG. 1
MMM P is part of the Multi Corporation Group, which has the following structure.
The organizational structure of the Multi Corporation Group
was changed regarding the people responsible for some of
the functional and business areas, however these changes
did not affect the management of MMM Portugal.
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ORGANIZATIONAL STRUCTURE OF MMM P
The Board of MMM P is the corporate body in charge of the strategy and supervision of the business in the Portuguese market. Every one of its members has executive functions. MMM BV, as the main shareholder, oversees the performance of MMM P. The sustainability strategy is defined by one of the Board members, António Matias Lopes, who reports to the rest of the board on the company’s performance regarding sustainability.
ORG. 1
Bernardus Henri Johannes Van Veggel(Chairman)
António Augusto Matias Lopes(Board Member)
Henricus Johannes Petrus Van Duren(Board Member)
Term from 2009 to 2012
Statutory AuditorCarlos Manuel Pereira Freire, Deloitte & Associados,
SROC S.A. – Principal Statutory Auditor
MANAGEMENT BOARD
P. 1
5
The Boardof Directors
Is the corporate body ultimately responsible for the strategy and supervision of the business in Portugal. It is comprised of three directors, with executive functions, who are responsible for the daily management of the company in Portugal.MMM BV, as the main shareholder and holding company, oversees the work and performance of MMM P, controlling and representing the interests and success of the company in the long term, according to the directives of the Multi Corporation Group.
The Regional Managing Director of MMM
Represents the executive management of MMM within the Multi Corporation Group. Is also responsible for making and implementing the sustainability strategy, reporting to the Board and presenting results and sustainability performance issues for decision.Also has executive functions inside Multi Mall Management BV (MMM BV), which is the company that owns the majority of the shares of MMM P, and in Multi Corporation, the main shareholder of Multi Mall Management BV.
Statutory Auditor Is the independent supervisory entity of the organization.Monitors and audits the company’s finances, acting independently from the interests of MMM P, and all of its stakeholders.
The organizational structure of MMM P is based on two
key pillars: the corporate departments which support the
entire company and the local business units. The latter are
represented by special purpose vehicles (Soge), which are
the contractual vehicles for the management of the centres
that MMM P contracts with the owners. In organizational
terms this means that each SOGE represents a shopping
centre being managed and a team that locally applies the
professional management of MMM P.
This structure has enabled us to have a highly horizontal
organization. This ensures:
• permanent communication between departments and
business units,
• rapid cross-company responses to problems,
• identification of solutions and, simultaneously the defi-
nition of the right paths for a more effective manage-
ment.
ORG. 2
MMM P is a member of the Associação Portuguesa de
Centros Comerciais (APCC) and it is represented in its Board
of Directors by Multi Development in the period from 2010-
2012. It is also a member of the ICSC - International Council
of Shopping Centres and it is directly represented in the ICSC
Retail Asset Management Committee - European Advisory
by Eng.º Matias Lopes.
In 2010 it joined the BCSD Portugal – Conselho Empresarial
para o Desenvolvimento Sustentável, and it has actively
participated in its activities and projects.
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BOARD OFDIRECTORSMMMPortugal
DEP.LegalA�airs
DEP.Finance
DEP.Public Relations andCommunication
DEP.ISOMOperations
StatutoryAuditor
SustainabilityComitee
SustainabilityWorkingGroups
RegionalManagingDirector
ORGANISATIONAL STRUCTURE
OF MULTI MALL MANAGEMENT PORTUGAL
ORG. 2
P. 1
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P. 1
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02 OUR SUSTAINABILITY
STRATEGY
02
MMM P’s sustainability strategy was developed in 2008, and
it was put into effect through a Sustainability Plan which lasts
4 years (1 sustainability strategy cycle).
In 2008, after internal reflection which consisted of various
internal and external analyses to identify the main impacts,
risks and opportunities of the company’s activity, we devel-
oped our Sustainability Policy called “Managing the Future”
and the Business Principles which guide the way we interact
with the stakeholders (they can be consulted at www.multi-
mallmanagement.pt/sustentabilidade)
Of the analyses mentioned above we highlight the legal
analysis, the analysis to the best sustainability practices of the
market (benchmark), the risk and opportunity analysis to the
social and environmental aspects relevant to the business,
and the consultation of the main stakeholders.
P. 1
9
3 In MMM P’s sustainability strategy, strategic topics are defined as the ones in which
we want to innovate and invest in order to distinguish our activity from the remaining
players, so that we become the reference in the market. Relevant topics are the ones in
which we want to follow the good practices and tendencies of the market.
Out of these analyses we were able to identify the material
issues for the activity of MMM P. We also carried out an
internal diagnosis to ascertain what the level of development
was in these issues and the best way to manage them.
As a result, we made the Operational Sustainability Plan (see
pages 88 to 94), where we define the objectives for the sus-
tainability strategy cycle and the measures that are to be
taken to reach them. We took into account the importance
of the topics: strategic or relevant 3 (see next page) in order
to set the objectives.
SUSTAINABILITY HIGHLIGHTS OF MMM P
2008
• Development of the entire process which defined MMM’s sustainability approach “Managing the Future”.
• Definition of the Business Principles.• Implementation of the Sustainability Governance Model.• Making of the Operational Sustainability Plan.
2009
• Sustainability Plan is put into effect.• Development of sustainability guidelines for partners and tenants.• Participation and sponsoring of events related to sustainability.• Publication of the 1st Sustainability Report.
2010
• The Operational Sustainability Plan continues being implemented.• The sustainability guidelines continue to be distributed to partners and
tenants.• Multistakeholder Group 2 pilot-project in Forum Algarve.• Publication of the 2nd Sustainability Report.
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Mall Management(Social A�airs)
EnvironmentalManagement
TeamManagement
Product CommunityEngagement
Security Energy Promotionof Innovation
Hygiene andFood Safety
Cooperationwith LocalOrganisations
Cleanliness,Hygiene andHealth
Transport Qualityof Servicesand Products
Water ResponsibleConsumption
Waste
Philantropyand SocialResponsibility
LocalCommerce
LocalEmployability
CareerDevelopment
Ethics and Compliance
Training
Strategic Areas
Strategic Aspects
Relevant Aspects
STRATEGIC SUSTAINABILITY ACTION AREAS
P. 2
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KEY IMPACTS, RISKS AND OPPORTUNITIES
FOR MMM P
Taking into account the relations with the main stakeholder
groups and the promotion of sustainability in our daily
activity we identified the key impacts, risks and opportunities
for the business of MMM P.
STRATEGY TOPIC IMPACTS RISKS OPPORTUNITIES INFO.
SECURITY
• Accidents, robbery and theft in the centre (tenants, visitors and employees)
• Complaints and satisfaction (tenants, visitors and employees)
• Reputational risk• Risk of reduced footfall
in the centre• Insurance costs
• Trust in the centre’s management
• Increased footfall in the centre
Page52-55
CLEANING, HYGIENE AND HEALTH
• Health (tenants, visitors and employees)
• Complaints and satisfaction (tenants, visitors and employees)
• Reputational risk• Risk of reduced footfall
in the centre• Insurance costs
• Trust in the centre’s management
• Increased footfall in the centre
Page52-55
ENERGY• Resource consumption
and contribution towards climate change
• Increased energy dependence
• Increased costs• Reputational risk
• Reduction of operating costs
• Reputational gain
Page63-66
TRANSPORTATION• Resource consumption
and contribution towards climate change
• Difficulty of access to the centre
• Better accessibility• Increased footfall
in the centre
Page66-67
WATER• Consumption of a scarce
resource• Increased costs• Reputational risk
• Reduction of operating costs
• Reputational gain
Page61-63
WASTE
• Health, hygiene and safety• Complaints and
satisfaction (tenants and visitors)
• More waste production• Poor management
• Less resource consumption, through recycling
• Cooperation with tenants
Page67-69
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STRATEGY TOPIC IMPACTS RISKS OPPORTUNITIES INFO.
HYGIENE AND FOOD SAFETY
• Health• Complaints and
satisfaction (tenants and visitors)
• Reputational risk• Insurance costs
• Trust in the centre’s management and in the tenants
• Increased footfall in the centre
Page52
SERVICE AND PRODUCT QUALITY
• Complaints and satisfaction (tenants and visitors)
• Reputational risk• Less clients
• Trust in the centre’s management and in the tenants
Page52-53
RESPONSIBLE CONSUMPTION
• Sensitize the visitors
• Reputational risks for tenants
• Trust in the centre’s management
• Increase visitors awareness
Page42
COOPERATION WITH LOCAL ORGANIZATIONS
• Engagement with the community
• Support for institutions• Reputational risk
• Reputational gain• Support for the
community• Increased footfall
in the centre
Page78-86
PHILANTHROPY AND SOCIAL
RESPONSIBILITY
• Engagement with the community
• Reputational risk
• Reputational gain• Support for the
community• Increased footfall
in the centre
Page78-86
LOCAL COMMERCE• Engagement with the
community• Reputational risk
- Reputational gain- Support for the
community
Page78-82
P. 2
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Taking in to account that MMM P’s sustainability strategy is
developed over 4 year cycles, and we are on the 1st cycle
we decided that we would consult with the stakeholders be-
fore the beginning of each strategic cycle, therefore the next
meeting is scheduled for 2012. This consultation will provide
the basis for the making of a new Operational Plan, by iden-
tifying new strategic areas and the actions to manage them.
It will also enable us to compare the results with the previous
cycle.
Hence, in the years between each cycle we consider inter-
nally whether the Sustainability Strategy suits the current
context and, if deemed necessary, we update the material
issues.
In the 2010 analysis, similarly to what happened in 2009, we
ascertained that there were no relevant changes that would
affect the current Sustainability Strategy. This analysis con-
sisted of:
• A review of the laws and regulations governing our
activity which had been passed during the year (the
last review had been made the year before). The new
legislation did not change anything on the strategy
level.
• Diagnosis in each shopping centre of the issues that
concern the main stakeholder groups. We discovered
that, generally, the issues mentioned are already
included in our strategy, and therefore there is no need
to change it. The issues that were of most concern to
the stakeholders in 2010 can be see on pages 104-106.
• Analysis of the issues being addressed by the remaining
players in the sector. We observed that there are no
emergent sustainability issues in the market.
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MSG 2
MSG 1STEERING Sustainability Committee
Board of Directors
Working Groups
Environ-ment
Social Economic
Beginningin 2012
Beginningin 2012
SUSTAINABILITY GOVERNANCE MODEL
To support the implementation of the Sustainability Strategy
and put the Operational Plan into effect, we applied a
Governance Model in 2008 which organizes the structures
and their responsibilities in the management of the strategic
sustainability areas of our business. This model organizes
the internal structures so that they make, implement and
review the Operational Plan. The existence of bodies made
up of external elements (MSG1 – Multistakeholder Group 1,
MSG2 - Multistakeholder Group 2 and Steering) increases
transparency and meets the expectations of the strategic
stakeholder groups, which generates value on the long
term.
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RESPONSIBILITY OF THE BODIES OF THE GOVERNANCE
MODEL:
SUSTAINABILITY COMMITTEE
Sets the operational sustainability plan in each year and ap-
proves the work carried out by the Environmental, Social and
Economic-Governance groups, ensuring that it is consistent.
Defines the work that is to be done by each working group.
WORKING GROUPS
Participate in the making of policies and processes that guar-
antee an efficient management of the social and environ-
mental risks along the value chain of Multi Mall Management
Portugal;
Implement actions together with the stakeholders according
to the defined sustainability policy, which can have beneficial
effects either for the reputation or for the economy of the
centres.
MSG1
The Multi Stakeholder Group 1 will be responsible for assist-
ing the Sustainability Committee in identifying the strategic
vectors of MMM P’s sustainability plan.
It is comprised of representatives of the most important
stakeholder categories.
It will begin its activity in 2012.
MSG2
Its objective is to assist the Centre management in the im-
plementation of the centre’s sustainability plan, and in all
initiatives that influence centre’s relationship with the local
community.
Each Forum will have a multistakeholder group consisting of
representatives of the local community, tenants and business
partners. The pilot-project was introduced in Forum Algarve,
in 2010 and after evaluating the results we decided to imple-
ment it in the other shopping centres.
STEERING
Its function will be to share tried and tested practices and dis-
cuss new ideas. The decisions reached in its meetings will be
presented and discussed with the Sustainability Committee;
It is composed of the sustainability executives of the cen-
tres except for the Centre Directors, who also sit on the work
groups. They will begin their activity in 2012.
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2Meetings ofthe Sustainability Committee
2Meetings of the Working Groups
In 2010 there were 2 Sustainability Committee meetings and
2 Work Group meetings.
The purpose of the meetings of the Sustainability Committee
was mainly to monitor and approve the Work Plan.
The purpose of the Work Group meetings was not only to
present the work that had been carried out and to discuss
the Operational Plan but also to serve as a way to share ex-
periences between the centres, which helped to solve prob-
lems. These meetings can also be used to transmit opinions,
orientations and concerns felt by the local teams, which de-
pending on their importance, may reach the Sustainability
Committee.
In 2010, we also introduced the Multistakeholder Group 2
(MSG2) as a pilot-project, with the goal of integrating the ex-
pectations and ideas of our stakeholders into the implemen-
tation of the Sustainability Plan at the local level.
This project was tested in Forum Algarve, via a tender in
which local businesses in various social and environmental
areas could submit their proposals so that the centre could
choose which one would be supported. This way the centre
was able to strengthen its connection with the local commu-
nity and channel more support towards an initiative deemed
important for the development of the population. See more
information on pages 85-86.
IMPLEMENTATION OF THE OPERATIONAL
SUSTAINABILITY PLAN IN 2010
2010 was above all the year in which the Sustainability Strate-
gy was consolidated. The procedures created in the previous
year were kept and we created some more which together
with the new management systems allowed us to manage
the material issues, monitor our performance and improve
our sustainability report. See objectives on pages 88-94.
We finished 31 of the 51 Sustainability actions in the Opera-
tional Plan, however due to the global economic context,
and in particular the difficulties in our sector, some of the
actions in the Operational Plan were not carried out. Some of
them were delayed or even removed because they make no
sense in the current context. The actions that were carried
out, finished, delayed or removed are listed on the tables of
pages 88-92 which summarize the development of our 2010
Operational Plan.
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INVOLVEMENT AND DIALOGUE
WITH THE STAKEHOLDERS
In 2010 we kept the mechanisms for continuous dialogue
and involvement with our stakeholders at the local level.
These mechanisms are part of the day-to-day activity of the
shopping centres and they support the good performance
of our teams. The relations established with the stakeholders
give us a deep understating of the problems and needs of the
business units, and make it possible for our teams to more
easily identify the relevant issues for each group of stake-
holders. This was the procedure used in 2010: each team de-
termined locally what the relevant topics are for each group
of stakeholders, based on their experience and work. The
summary of these topics can be consulted on pages 104-106.
Nevertheless there was no process to formally consult with
the stakeholders that was specifically designed to identify
solutions and/or improvement opportunities in the sustain-
ability management area. As we have mentioned before, this
process (developed at the corporate level) will be started in
2012, before the beginning of the second sustainability strat-
egy cycle.
In addition to this process, this year we also made a ques-
tionnaire to find out the level of the satisfaction of the own-
ers. It was carried out in 7 of our centres, and it allowed us
to identify some improvement points in the relation and per-
formance of these centres, based on the opinion of a strate-
gic group of stakeholders for our business.
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STAKEHOLDERS INVOLVEMENT FREQUENCY INFO.
OWNERS
Continuous contact and meetings
Ongoing
Page44-45Evaluation of the
shopping centres by the owners
Annual.
VISITORS
Satisfaction surveys Annual or every six months (subject to owner’s approval).
Page46-49Information desk
Customer assistanceInternet website and Facebook page
Ongoing
TENANTS
Direct and regular contact with the Centre Management
Ongoing
Page.50-53
Tenants’ association Monthly
Tenants’ assembly Annual
Internal quality audits Regular
Tenant satisfaction survey
Annual (subject to owner’s approval).
SUPPLIERS AND SERVICE PROVIDERS
Direct and regular contact with the Centre Management
Ongoing
Page.53-55Direct and regular
contact with the Centre Management team
Ongoing
EMPLOYEES
Horizontal management Ongoing
Page.70-77
Training Regular
Performance evaluation Annual
COMMUNITY
Meeting with representatives of the local community
At least twice a year
Page.78-86
Job centre Ongoing
Centre Management Ongoing
Project tender to support the Local Community made according to the rules of the MSG2
Pilot-project
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03 INTEGRATED
MANAGEMENT PRACTICES
AND RESULTS
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Net profit:
3,1 millioneuros
Total consolidated income:
14,9 millioneuros
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03 03 INTEGRATED
MANAGEMENT PRACTICES
AND RESULTS
Economic Performance
03.1In the current economic context, our sector should strive to
create a balance that ensures, on the one hand, the future of
the projects and partners, and on the other hand, a strong
support for the local community through a stimulus of the
economy. In 2010 the national crisis became worse and the
same can be said for the macroeconomic conditions of the
country.
Throughout 2010 MMMP was focused on increasing the
efficiency of its management, by maintaining the appeal of
the centres, developing innovative projects and generating
profit for the investors. It also remained strongly connected
and supportive of the community in which the projects are
located.
In MMM P the Finance Director is responsible for managing
this area.
P. 3
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2010 PERFORMANCE
MMM P’s performance maintains positive results, even in
years of growing difficulties in the Portuguese economy.
Our capacity to adjust ourselves and act in conformity
with the market and the needs of the investors, specifically
through an increase in the direct costs and a greater
commitment to medium term goals, ensured that MMM P
would, in a difficult period maintain its total income and
have a reasonable net profit. During this year, MMM P kept
the investment in the development of the GIFT CARD project
and took responsibility for the costs of adjusting its teams.
In 2010 we created 14.9 million Euros of consolidated in-
come - a 19% reduction compared with 2009, and 3.1 million
Euros of net profit, 28% less than in 2009. However, the costs
were reduced by 16% and they were 10.4 million Euros.
The equity capital of the company remained at € 50.000 and
there was no internal or external financing in 2010.
2008 2009 2010 4 Var. 2009-2010
Total Income 17.953.947 € 18.422.831 € 14.908.701 € -19%
Total Costs 12.250.000 € 12.400.000 € 10.366.114 € -16%
Net Profit 4.170.000 € 4.340.000 € 3.104.000 € -28%
Financial Performance Indicators
20.000.000 €
15.000.000 €
10.000.000 €
5.000.000 €
0 €
Total Income
Total Costs
Net Profit
2008 2009 2010
4 The 2010 data is affected by the fact that Forum Barreiro and Forum Castelo Branco
were no longer part of MMM P’s portfolio.
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DISTRIBUTION OF GENERATED WEALTH
In 2010 the direct economic impacts of our activity were
mainly positive. We generated 14.9 million Euros, a 19%
reduction compared with the previous year. Even so, the
distributed economic value was 14.4 million Euros and the
retained economic value was 71% higher than in the previous
year at 477.8 mil Euros.
DIRECT ECONOMIC VALUE GENERATED (DEVG)
2008 2009 2010 Var. 2009-2010
Total Income 17.953.947 € 18.422.831 € 14.908.701 € -19%
DIRECT ECONOMIC VALUE DISTRIBUTED (EVD)
2008 2009 2010 Var. 2009-2010
Total operating costs
5.821.224 € 7.110.339 € 4.970.366 € -30%
Staff costs and benefits
6.366.838 € 5.091.115 € 5.395.748 € 6%
Distribution of dividends
3.866.591 € 3.958.112 € 2.769.456 € -30%
Estimated tax (IRC) 1.518.986 € 1.710.031 € 1.262.645 € -26%
Investment in the community
60.000 € 277.849 € 32.695€ -88%
Total EVD 17.633.639 € 18.147.446 € 14.430.910 € -20%
Total Operating Costs Distribution of Dividends
Estimated tax (Corporation tax) for the year
Staff costs and benefits
Investments in the Comunity
Economic Value Distributed
4.970.366 €
35%
1.262.645 €
32.695 €
9%
<1%
5.395.748 €
37%
2.769.456 €
19%
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INDIRECT ECONOMIC IMPACT OF OUR ACTIVITY
MMM P’s main objective in the management of shopping
centres is to maximize the volume of sales of its tenants, and
as result create a chain of value distribution. Each project
also contributes, directly and indirectly, to the development
of the area where it is located.
In 2010 the sales of our tenants totalled 873 million Euros.
The local community was represented by 249 shops, which
constitute about 22.1% of the 1.127 shops operating in our
centres. The number of local entrepreneurs who trusted us
and who carry out their business with us is 172. The centres
received around 77.4 million visitors and created direct jobs
for 10.851 people and indirect jobs for 6.087 people.
We allocated a further 20 million Euros to the service
providers who supported us daily in the maintenance and
operation of our shopping centres.
Employees:
5.395.748 € 6% higher than in 2009 5
Shareholders:
2.769.456 € 30% lower than in 2009
ECONOMIC VALUE RETAINED/ACCUMULATED (EVR)
2008 2009 2010 Var. 2009-2010
Total EVR 320.308 € 275.385 € 477.791€ 73%
Distribution of wealth to Stakeholders
5 MMM P doesn’t have pension plans.
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If we analyse the data we can see that, compared with 2009,
the total sales of our tenants increased by 9%. The number of
visitors also increased about 7.4%. The total number of shops
decreased 3.5%, whereas the number of local community
tenants increased by 24.5%. The direct and indirect jobs
decreased by 5.6% and 13.4%. There was also a 37.5%
reduction of the service provider costs.
Shop sales:
873 million euros
10.851 direct jobs
77,4 millionvisitors
Service provider costs:
20 million euros
Business indicators 2008 2009 6 2010Var.
20092010
Shop sales (million Euros) 806 801 873 9,0%
Direct jobs (n.º) 7.275 11.493 10.851 -5,6%
Indirect jobs (n.º) ND 7.032 6.087 -13,4%
Visitors (million) 71,7 72,1 77,4 7,4%
Tenants from the local community (n.º)
193 200 249 24,5%
Total active tenants (n.º) 1.053 1.168 1.127 -3,5%
Expenditure on service providers (million Euros) 7 33 32 20 -37,5%
6 The amounts associated with Forum Barreiro and Forum Castelo Branco were re-
moved from the 2008 and 2009 data in order to keep the same centres that were under
our management in 2010.
7 In 2010 we calculated the “Cost of the service providers” as a means to standardize the
items included in this indicator in every centre. As a result the 20 million Euros (for 2010)
represent a significant reduction which actually did not happen, because the calcula-
tion took into account less components than in the previous years, which obviously
reduced the value.
P. 3
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The sector of the economy that we are part of seeks to in-
crease the value of its assets through the satisfaction of the
needs of its Visitors, Partners and Customers.
MMM P has an integrated view of its projects and it develops
its activity around this balance. By attracting Visitors, with the
support of its Partners, MMM P satisfies its customers and the
local community. The work carried out by MMM P is based
on its business principles, which should be complied with
and respected by everyone that participates with us in the
implementation of our strategy.
Each centre’s management team is aware of the importance
of every one of the sides of the triangle formed by the Own-
er, whose investment is respected and should be properly
compensated, by the Tenants, whose activity generates prof-
its and is critical for the satisfaction of the third group, and
by the Visitors, who daily acquire products and services. The
balance between the interests of these three groups will de-
termine the success of each project and the success of MMM
P as a management company. In the work of the manage-
ment team we cannot forget the service providers and em-
ployees which support the implementation of the strategy,
and when combined with a medium and long term vision
contribute towards sustainability.
Valuing Our Visitors, Partners And Customers
03.2
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Owner
• Return on the investment
• Reputation (trust-capital) in the local community
and in society
Tenants
• Visitor attraction and loyalty capacity
• Commercial capacity of the centre
• Attractiveness and security of the retail space in the
centre
• Efficient coordination of the tenant’s needs with
those of the centre
• Long-term partner with sound business and ability
to succeed in the market
Visitors
• Location of the shopping centre
• Tenant mix of the centre
Employees and Service Providers
• Efficient integration of service providers’
teams with our management teams
• Cooperation and training of the teamOWNER
VISITORS
TENANTS
EMPLOYEES
SERVICE PROVIDERS
FACTORS THAT DETERMINE THE INVOLVEMENT
OF THE VARIOUS STAKEHOLDERS IN THE INVESTMENT,
MANAGEMENT AND USE OF THE SHOPPING CENTRE:
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ONGOING ENGAGEMENT BETWEEN MMM P AND OWNERS, VISITORS, TENANTS AND OTHERS
Stakeholder What we did in 2010
OWNER
Contact with Centre Management
We maintained constant contact with owners through visits and regular meetings.We carried out satisfaction surveys of the owners in 7 shopping centres: Almada Forum, Armazéns do Chiado, Forum Algarve, Forum Madeira, Forum Montijo, W Shopping and Braga Retail Centre.
Regular meetings
Satisfaction surveys
VISITORS
Satisfaction surveys
Satisfaction surveys of visitors were conducted in 8 of our shopping centres: Almada Forum, Armazéns do Chiado, Forum Algarve, Forum Aveiro, Forum Coimbra, Forum Madeira, Forum Montijo and Forum Viseu.The information desk, customer support and internet website maintained their patterns of ongoing information during the year.
Information desk
Customer support
Internet website
TENANTS
Regular meetingsDuring 2010 regular meetings were held with tenants, whenever necessary. The tenants’ assembly continued to operate as normal, meeting once during the year to approve the annual plan of activities and discuss and resolve problems and concerns relating to the operation of the centre. The tenants’ association also continued to meet on a monthly basis. The usual surveys of tenants were conducted. In 2010 they were carried out in 9 shopping centres: Almada Forum, Armazéns do Chiado, Forum Algarve, Forum Aveiro, Forum Coimbra, Forum Madeira, Forum Montijo, Parque Mondego and Espaço Guimarães.The quality audits were also maintained in 2010, and included the usual elements used in previous years.Numerous events and initiatives were organized in partnership with the tenants, and they can be found throughout this report.
Tenants’ assembly
Tenants’ association
Tenant satisfaction survey
Internal quality audits
SUPPLIERS AND SERVICE PROVIDERS
Direct contact with Centre DirectorWe maintained the regular contact between suppliers and service providers and the management teams and Directors of our shopping centres.
Direct contact with Centre Management team
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MULTI MALL MANAGEMENT PORTUGAL
CHARTER OF PRINCIPLES
MMM P is clearly aware that the work carried out daily by its
teams should balance the need for economic return with a
set of social and environmental goals, and that these goals
can only be achieved if every participant, from the Tenants
to the Service Providers and Suppliers to our management
teams, is aligned with our principles, works together and
cooperates. The ultimate objective of providing a better
service to our Visitors and satisfying their needs is based on
a set of common principles which we think are fundamental,
and which should be adopted and adhered to. So we wish
to take this opportunity to share them with the community
at large.
CHARTER OF PRINCIPLES
The development of a sustainable activity depends on broadening the scope our objectives from just economic profit to a set of social and environmental goals, which we want to be part of the daily work of our teams.
The effective implementation of MMM Portugal’s sustainability poli-cy is only possible if there is in every one of the shopping centres we manage a spirit of cooperation between the members of the centre’s extended Management Team, namely: Centre Management, Tenants, Service providers (security, cleaning and maintenance teams), Suppliers and their subcontractors.
Therefore, we have compiled a set of guidelines for these Teams in this document, with the intention of raising their awareness for the adop-tion of a common policy and to improve the service provided to our Visitors for their satisfaction, towards which we all contribute.
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COMMERCIAL RELATIONSHIP PRINCIPLES
In the context of their activity, the tenants, service providers and suppli-ers should promote stable long term commercial relations with MMM Portugal. Specifically:
• In its commercial relations and daily activities MMM Portugal, seeks through its employees, to establish relationships of mutual trust with tenants, service providers, suppliers and their subcon-tractors.
• Regardless of the principles established by this document, compli-ance with the law is a mandatory requirement in all circumstances involving MMM Portugal. For that reason our Partners should be-have honestly, with integrity and transparency in their direct or indirect business and commercial relations with MMM Portugal
• Our partners should have a proper accounting system, as a way to prevent against any kind of corruption, bribe and/or extortion. This type of behaviour is not tolerated by MMM Portugal.
• All information exchanged between parties in the establishment of their agreements is confidential, and it cannot be used for any other purpose.
• Any situation that can generate a conflict of interests between MMM Portugal and any of its partners should be communicated in a timely manner. This declaration is one of the main safeguards of transparency in the relations between parties.
LABOUR CONDITIONS PRINCIPLES
In the context of their activity, the tenants, service providers and sup-plies should:
• Treat their employees with dignity and respect. Corporal punish-ment, verbal or power abuse, or any other instance of harassment or psychological intimidation cannot be tolerated under any cir-cumstance.
• Not discriminate based on race, gender, religion, age, physical or mental disability, marital status, sexual orientation and/or syndi-cate or political affiliations, in any of their activities.
• Not permit any case of forced or involuntary labour in their facili-ties, or condone this kind of situation.
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• Not allow the existence of child labour, and should comply with the law governing the minimum working age and compulsory education.
• Give their workers the right to associate, affiliate and collective bargaining.
• Provide their employees with a safe and healthy working environ-ment, by adopting the necessary measures to prevent accidents and health damage, and minimize as much as possible, the in-herent risks of their jobs (for example provide adequate individual protection equipment, and security procedure training, etc.). MMM Portugal will make any effort to create a certification system that includes these concerns and adapts to the daily operation of its activities.
• Pay a fair and timely wage to their employees, according to the applicable law.
• Respect working hours, ensuring rest periods, according to the law.
ENVIRONMENTAL PROTECTION PRINCIPLES
In the context of their activity, the tenants, service providers and sup-pliers:
• Should maintain a constant commitment to environmental pro-tection and management, by complying with the rules of the centre (environmental management system procedures) and the norms and requirements established by the law. In particular,
• Tenants should take the necessary measures, together with the Centre Management, to improve their energy and water efficiency, reduce waste production, contribute to re-cycling and promote the use of public transportation or en-vironmentally friendly transportation in the trips to the shop-ping centre.• The cleaning service providers should use safe, and when-ever possible, environmentally friendly cleaning systems (low toxicity for the users, low water and energy consump-tion and low production of waste/empty packages).
• Should disseminate their good practices and raise the environ-mental awareness of its customers and other participants in the value chain. MMM Portugal will make any effort to work according to a system of certification that includes these concerns and adds them to the daily operation of its activities.
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RESPONSIBLE CONSUMPTION PRINCIPLES
In the context of their activity, the tenants service providers and sup-pliers:
• The tenants should, whenever possible, include in their com-mercial mix, fairly priced products, that respect balanced social and environmental patterns (ex. fair trade products, organic, local products, etc.).
• MMM Portugal should promote a procurement policy which caus-es less damage to the environment.
• Should ensure that all of the participants in the commercial chain transmit transparent information about the products and market-ing methods.
• Should promote more responsible trade practices, through aware-ness campaigns of the tenants and visitors of the shopping cen-tres.
DISSEMINATION OF INFORMATION AND CONTROL
• Should disseminate these principles to its employees and subcon-tractors in order to guarantee their effective implementation.
• MMM Portugal can solicit the adoption of corrective measures, in order to avoid having any association with eventual behaviours or practices that go against the philosophy of these principles.
Lisbon, June 2010 The Board of Directors of MMM Portugal
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Partnership with the Owner
03.2.1The shopping centre management market is changing; we
are seeing the entrance of new companies coming from oth-
er areas of the property market, which are taking advantage
of the crisis to protect themselves with long term businesses.
In this context, the activities of MMM P focused on the long
term relationship with the owner are aimed at keeping the
profitability of the assets and increasing the value of each
project. The development of work with continuity and a vi-
sion with an exclusively managerial perspective allow us to
implement medium term strategies, which will contribute to
the profitability of each project on the long term.
At the same time, we develop a close partnership with each
owner, which not only brings new contracts, such as Braga
Retail Centre, but also leads to the continuation and renova-
tion of the current management contracts, in turn this gives
us the opportunity to show our capacity to understand the
market and the reality of each project, as a way to adapt our
services.
SATISFACTION SURVEY REGARDING THE SERVICES
PROVIDED BY MMM P TO THE OWNERS
In the beginning of 2011, we conducted an internal survey of
the owners of the centres we manage in order to measure
their level of satisfaction, ascertain what their priorities were
regarding our work and have them analyse our performance
in 2010.8
The results of this survey show that the overall rating given
by the owners to MMM P was on average 84%, varying from
93% in the item “relation with MMM P” to 75% for the Mar-
keting campaigns. The commercialization services, report-
ing practices and the relationship with MMM P were rated as
being above average.
The services that were most appreciated were the increase
in the value of the assets, the ability to collect payments, the
occupancy rates, the conservation of the centres and the
control over the budget.
Owner satisfaction
84%
Commercializa-tion services89%
Relation with MMM P 93%
8 It was conducted in 7 shopping centres (Almada Forum, Armazéns do Chiado, Forum
Algarve, Forum Madeira, Forum Montijo, W Shopping e Braga Retail Centre). In order to
be coherent, the values we present do not include Braga Retail Centre.
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Concerning the services we provide, our availability and
readiness stand out, with an average score of 4 (on a scale of
0 to 4), our availability to accompany the evaluators (3.8 in 4),
our capacity to keep to the budgets (3.7 in 4), our compliance
with deadlines and reports (3.5 in 4), our relationship with the
tenants (3.2 in 4), our successful Marketing initiatives (3.2 in
4) our trustworthiness (3.2 in 4). There was only one score
below the scale average which was our capacity to come up
with creative solutions (1.8 in 4).
In the evaluation of our technical ability and professional
qualifications, the owners emphasized our awareness of the
competition and our network of contacts, which had an av-
erage score of 3.8 in 4, our good reporting practices 3.7 in 4,
the management of contracts (3.7 in 4), the change made in
the contracts to better protect their interests (3.5 in 4) and
the use of technical solutions that reduce costs (3.5 in 4). The
lowest score, of 3 in 4, was given to creativity and capacity to
present alternative solutions.
TESTIMONY OF ONE OWNER IN THE SATISFACTION SURVEY
We have a very good relationship with MMM P!(Armazéns do Chiado Team)
Their work is good, they are always available, they assist us whenever we need, and they deliver their reports on time, with honesty and great passion for our business! Thank You!
Asset Manager, CRI - Commerz Real Investmentgesellschaft MBH
EXTRAORDINARY MONTHLY PROFITABILITY
OF THE ASSETS UNDER MANAGEMENT
The profitability of the shopping centre product is the pri-
mary objective of our activities. Accordingly, the value that
we show here reflects the extraordinary monthly profitability
of the building for the owner.
In the year this report is about – 2010 – we exceeded an
average total profitability of 0.48% per month for all property
owners in our customer portfolio.
Extraordinary Monthly Profitability
0,48% of everyasset under management
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Engagement with Visitors
03.2.2Shopping centres in Portugal are well-known for being ap-
pealing, clean, safe, well kept and for having a commercial
supply which enables its visitors to satisfy their needs. With a
growing and varied supply, the various projects compete to
be the one chosen by the population in its area of influence.
Throughout the last 14 years we have forged a strong re-
lationship with our Visitors. We have created listening and
interaction mechanisms, such as the satisfaction surveys, the
internet websites or the Information Desks. However, our
interaction and control efforts are not limited to this, as we
have a broad team of employees constantly in the field, who
daily go over marketing, operational, financial and quality
control issues. Our Visitors have a qualified assistant at their
disposal in the centre to answer their questions and improve
their experience in each visit.
THE TOOLS
• In each shopping centre, the Information Desk plays a
pivotal role in customer service, both by being the initial
visible face of the management in dealing with a cus-
tomer, and by being able to provide first- hand experi-
ence of the complaints and suggestions produced here.
• The growing use of new technologies and the growth
of social networks enable us to use of a new channel to
spread information and communicate with our custom-
ers. We have implemented and developed the Internet websites of each centre and created pages in the main
social networking websites, specifically Facebook. The
latter have the advantage of making it possible for the
public to interact, with content from everyone for eve-
ryone.
• The Periodic Visitor Satisfaction Surveys carried out in
most of the centres allow us to “feel the pulse” in a com-
prehensive and structured way. Based on the resulting
evaluation, we refine our strategies, modify procedures
and align the centre’s wider management team to re-
spond actively to what our visitors feel are their main
needs/desires. Accordingly, we continue to use overall
satisfaction measured as a performance indicator.
No. of visitors in 2010:
77,4 million +1.2% morethan in 2009
Average visitor satisfaction81%
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OUR PERFORMANCE IN 2010
During 2010 our centres received about 77.4 million visi-
tors, which is equivalent to a daily number of more than
212 thousand people. If we compare these numbers with
2009 there is a 1.2% increase in the number of visitors to
our projects.
Throughout the year, we increased the number of services
provided to the Customer, namely we enhanced and pro-
moted the “GIFT CARD” which consists of a pre-paid card
that allows the person that receives it to choose exactly
what they want to receive and as a result the person that
gives it does not take the risk of giving the wrong gift. This
card is accepted in the shops of Almada Forum, Forum Avei-
ro, Forum Montijo, Armazéns do Chiado, Forum Madeira,
Forum Viseu, Forum Algarve, Forum Coimbra and Espaço
Guimarães, or in any other place where MasterCard cards
are accepted. Taking the growing use of new technologies
into account, the food courts of our centres also had WIFI
connectivity, trough contracts that we signed with PT. Re-
garding transportation, in addition to the Green Travel Plans
which we are developing, we installed in every one of our
projects systems to charge electric vehicles – WATT DRIVE,
through a partnership with EDP, this service is entirely free
for its users. We also have automatic defibrillators and se-
curity guards qualified to provide first aid in most of our
centres. Services such as public telephones, ATM machines,
baby strollers and wheelchairs, children’s playground, fam-
ily support areas in the food courts, toilets prepared for fam-
ilies and people with disabilities, and also information desk
with constant and personal service are common for MMM P.
VAIVEM SERVICE PROVIDED BY ESPAÇO GUIMARÃES
“The Vaivem free transportation service is an advantage that Espaço Guimarães has. In the past (…) I had to use my car (…) which was a nuisance. (…) It is a lot more practical and comfortable. (…)The hours are very flexible, which allows me to choose the best time to come, and calmly take care of my business, because I know that the Vaivem service will be there to take me back to the city until 22h45, which is fantastic.”
Dores Gonçalves – User of the Vaivem service of Espaço Guimarães
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“It is a service that people can use without spending money, (…) to visit Espaço Guimarães and enjoy the ever affordable shops and activities offered by this shopping centre.”
Ana Cristina Carvalho – User of Vaivém service in Espaço Guimarães
“In 2010 I received my first MMM Gift Card which I could use in any shop and at the same time enjoy the additional benefits given by the Multi Mall Management centres. It was wonderful! After this experience, I decided to buy more MMM Gift Cards to give my family members and close friends, I am sure they will always be very pleased.”
Gabriela Silva – User of the MMM Gift Card
VISITOR SATISFACTION SURVEY
We conducted Visitor Satisfaction surveys in 8 of our shop-
ping centres, which enabled us to analyse around 86.8% of
the total of our Customers. The study was not conducted
in Parque Mondego, W Shopping and Espaço Guimarães be-
cause it was not approved by the respective owners.
The global satisfaction of our visitors was 81%, varying be-
tween 84% and 76%. When compared with last year, there
was a slight increase in this value. If we do a comparison
by centre in the last two years, we can see that the satis-
faction index increased in Forum Algarve and Forum Aveiro.
The indicators of safety, hygiene and cleanliness and food
safety (strategic areas for MMM P) had a score of 77%, 78%
and 79% respectively, which was a decrease from 2009. We
can conclude that although their global satisfaction level is
the same, our customers have become more demanding in
these specific areas.
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MANAGEMENT OF COMPLAINTS
We received a total of 780 complaints in all of the centres,
a 4% reduction compared with last year (taking the same
universe of shopping centres into account). Almada Forum,
Armazéns do Chiado, Forum Madeira, Forum Montijo and
Espaço Guimarães contributed to this reduction. There were
around 10 complaints per million visitors, which is an 11%
reduction from last year. It should be noted that there was
a significant reduction (-90%) in the number of complaints
regarding food safety, due to a greater investment made by
our tenants in the automatic food safety control systems.
MMM P regards every complaint as a second chance given
by the Customer, to increase the quality of the services we
provide, directly or through our extended management
team, on the road to excellence.
TESTIMONY
MANAGEMENT OF COMPLAINTS AND SUGGESTIONS
“I appreciate the diligent and rapid manner in which the Centre Man-agement of W Shopping acted regarding the repair and setting up of outside benches in the smoking area near floor 1. The only available bench had been damaged and it only took 24 hours for it to be repaired and for a second one to be added. My complaint was heard. Thank You.”
José Pedro Silva – Alpiarça – a customer of W Shopping in Santarém
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Partnership with Tenants
03.2.3 Tenants are the motor of a shopping centre and naturally
they are the main motive behind the visits of our customers.
Teamwork, the way the shopping centres complement each
other and their adaptation to their sphere of influence will
decide the success of each project.
Our management model values the diversity and the com-
plementarity of the various businesses, by following the idea
that a shopping centre is worth more than the sum of the
value of each single tenant. We aim to create unique and
special retail spaces, where the areas of the tenants meet
their needs. We work so that each Shop feels supported, in
the knowledge that the management of each centre will
help and work to increase its performance. In 2010, the ac-
cumulated sales of our 1.127 tenants (3.5% less than in 2009)
totalled more than 872.7 million Euros, a 9.0% increase from
2009. This result achieved by our tenants, together with the
number of visits allows us to ascertain that each visitor in-
creased their consumption by about 2.7% in every one of our
centres, spending on average 11.3 Euros per visit. This infor-
mation shows us that we have good Tenants, and that our
Customers like the centres managed by MMM P and increas-
ingly choose them to make their purchases.
We should emphasize that there is an extensive partnership
between the tenants and MMM P which applies to the gen-
esis of new projects, where the experience and performance
analysis of the current centres will be used to design and
choose the labels of the new projects developed by Multi
Development. This partnership also includes the invitations
given to the tenants for them to expand their activity to other
centres under our management.
Our relation with the tenants is regulated by the Shop lease
Contract which establishes a set of tools to exchange infor-
mation and be aware of the needs of each party, namely the
General Tenant’s Assembly, the implementation and back-
ing of the Tenants’ Association, the audits and quality control
and the sales information given by each Tenant. However,
because we value this relationship we are always available
to meet with the Tenants, listen to their ideas and problems,
and whenever possible work to find the proper solutions. We
also conducted internal tenant satisfaction surveys and con-
tinued to hand out the Tenant Guide, where we present our
strategic sustainability approach and what we expect from
each tenant. This document is available to all tenants, and it
was mainly distributed through the anchor shops.
Average sales per visitor:
11,3 euros 2.7% increasefrom 2009
Sales:
872,7 million euros up 9%from 2009
Tenants:
1.127 Tenants 3.5% less than in 2009
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TENANTS’ ASSOCIATION
The Tenants’ Association operates through a monthly
meeting (Tenant Meeting) between the centre management
and the board of the association in order to deal with current
issues and concerns. Its main objective is to work together
to fine-tune the performance of the shopping centre prod-
uct, and to undertake a monthly assessment of the various
aspects of the performance (footfall, sales, campaigns, issues
in the surrounding community, and other issues that directly
or indirectly involve the shopping centre or the business as
such). The remaining Tenants in the shopping centre are also
invited to take part in this meeting.
ANNUALMEETINGOF TENANTS
AUDITCOMMITEE
GENERAL COUNCIL
BOARD OF THEASSOCIATION
In all projects under the management of MMM P, tenants,
service providers and centre managers agree to establish a
General Tenant Assembly.
This Assembly is composed of various bodies which togeth-
er, seek to discuss and find the best solutions for the success
of each shopping centre. It is the supreme decision-making
body of the Tenants Association and elects the Board of the
Association, the Audit Committee and the General Council.
It meets annually, and also plays a key role in supervising the
management of the centre. It can also meet whenever nec-
essary to discuss relevant and critical issues for the operation
of the centre, similarly to what happened in August 2009 to
implement the H1N1 Contingency Plan, because of the A
virus influenza pandemic, which was in effect from August
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TESTIMONY
TECHNICAL AUDITS
“I want to thank you for conducting surprise audits in our shop, because when combined with the supervision and audits we do ourselves they are a useful tool to correct and improve on some of the issues detected.I would be thankful if this practice was continued in our shop, as it will not, under any circumstance, be considered an inconvenient. On the contrary, it will be regarded as a useful tool when joined with the audits we carry out.
Adriano Zambujeiro, Director de Operações - SOGEFRAN, S.A.
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INTERNAL AUDITS AND QUALITY CONTROL
As managers of a retail space open to the public with rules
and procedures at various levels, it is essential to ensure
compliance with such rules. To this end, we have created
teams of auditors who locally report to the centre director on
a myriad of aspects related to the smooth operation of the
business units located in the shopping centre, for example:
• behaviour of shop employees towards customers
• adherence to opening hours
• stocks
• sales monitoring
• till shortfalls
• layout of goods in shops
• promotions
• customer complaints
Analysis of these aspects is vital to the management of the
centre, as well as to the tenants, since in most cases a tenant
cannot oversee the operation of all of its shops at the same
time.
In conjunction with these audits, there is also strict internal
hygiene and sanitary control in all units where there is a risk
of food or biological contamination (such as in restaurants,
drycleaners and other services).
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TENANT SATISFACTION SURVEY
The performance indicators and the information obtained in
the individual meetings and Tenants’ Associations are very
significant and encompassing. However, we think it is impor-
tant to ascertain and systematize this information, and to this
effect we use periodic surveys as a complementary tool. This
survey is conducted in most of our projects.
In 2010 the average overall tenant satisfaction rate was 80%,
which is an increase from last year. This result is the conse-
quence of our focus on working together with the tenants
and it encourages us to follow this course. Even so, in some
of the strategic areas the satisfaction decreased, such as in
security 79% and in hygiene, cleaning and food safety 77%,
these reductions are attributable to a more demanding at-
titude on the part of the tenants. If we do a comparison by
centre in these last two years, we can see that the satisfac-
tion rate increased in Armazéns do Chiado and Forum Coim-
bra, and it remained the same in Forum Algarve.
The wider CentreManagement Team
03.2.4Bearing in mind the complexity in the management of
a shopping centre, the local teams are supported by their
central structures and specialists who implement the strate-
gies in the field in order to provide a quality and appealing
product to the Visitors and Tenants. The services provided by
these teams of specialists, also contribute towards increasing
each project’s competitiveness.
The organization model used in the centres we manage
treats the service providers as if they were one of our di-
rect teams, so they report to the Director of the centre or to
the management team. These specialist companies, which
many times are leaders in their sectors of the market, back
us in the management of areas ranging from security and
surveillance, cleaning, maintenance, waste collection, mar-
keting, media relations and the information desk. Seeing that
they have vast experience, MMM P benefits from the incre-
mental improvements suggested by them which allow us to
implement the best practices in the market. As a result, we
can increase the reliability of the work developed and simul-
taneously lower the reputational risks.
MMM P relies on large and broad local teams, which, when
complemented by the central structure teams can combine
local actions with a global vision, and this makes the service
80% Average tenant satisfaction rate
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provider teams feel more supported. Each area, whether it
is security or maintenance, can always count on the Centre
Management to be a suitable and knowledgeable partner in
the daily work to meet the challenges in the operation of a
shopping centre.
We think it is important for both teams to have the same
strategy, therefore this year we continued to distribute the
Partner Guide where we outline our sustainability strategy
and define the role of each service provider. We have high
regard for good social, legal and environmental practices and
values, thus we choose the companies that give us the best
performance guarantees and are aligned with us. A good ex-
ample of this partnership is the fact that we only choose two
or three companies for each main area.
CENTERMANAGER
OPERATIONSDEPARTMENT
MARKETINGDEPARTMENT
SERVICEPROVIDERS
FINANCE DEPARTMENT
ORGANIZATION MODEL
Expanding our team into these new areas allows us to act
more rapidly and efficiently in the detection and resolution of
problems. The quality of the product is checked every day by
the Centre Management and the Service Providers, through
their constant presence in the centre. To aid in this task,
MMM P developed specific software, called ISOM, to record
and control the entire operation, from the security records,
the maintenance measures, the lost and found database, to
any infringement or error in the operation of the shopping
centre or the shops. This enables us to anticipate problems
and act immediately to correct any error or anomaly.
We also conducted drills in order to pre-emptively detect
flaws in the procedures and action plans. Correcting these
problems ensures that our centres are safe, that their opera-
tion is smooth and that we have the capacity to minimize the
impacts of an accident.
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Some of the health and security control actions carried out in our shopping centres
• Survey of the condition of the equipments, infrastructures and lighting (every centre);
• Cleaning records of the common areas and WCs (every centre);• Security records and survey of the safety of the centre’s perimeter. Including
security audits (every centre);• Hygiene and sanitation audits in the shops (Forum Algarve, Armazéns do
Chiado, Forum Montijo);• Analysis of the quality of the drinking water (Almada Forum, Forum Algarve,
Armazéns do Chiado, Forum Montijo, W Shopping, Forum Madeira, Forum Coimbra, Forum Viseu, Espaço Guimarães);
• Emergency plan, including drills (Almada Forum, Forum Aveiro, Armazéns do Chiado, Forum Montijo, Forum Madeira, Forum Viseu);
• Influenza A virus Contingency Plan (every centre);
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Valuing the Environment
03.3 Our sector is shifting towards the reduction of recourse con-
sumption, by combining a sustainable design in the devel-
opment of projects, with the implementation of energy ef-
ficiency measures and an effort to raise the awareness of all
interested parties.
With the development of our sector, the general public be-
came conscious of the importance and impact of a shop-
ping centre in the surrounding area. In MMM P we look at the
projects on a comprehensive level and think that the impacts
we create should fit the interests of the various parties. Con-
cerning the environment, they should, not only contribute to
the enjoyment of Visitors and Tenants and create a beneficial
impact in the local community, but also increase in value,
through long term solutions that ensure a return on invest-
ments. We are concerned about all of the direct impacts of
our actions, including the ones that affect the users of the
centre, be they Tenants, Visitors or Employees.
Since 2004, when we had the first shopping centre in Eu-
rope to obtain certification to standard ISO 14001 – Forum
Montijo, we have created a system committed to standard-
izing the internal practices, to discovering new solutions and
to supporting our partners in the implementation of good
environmental practices. This work is managed by the ISOM
team, which was also responsible for implementing the Envi-
ronmental Management systems in all of the centres, result-
ing in more ISO 14001 certificates. Only two projects have
not finished this process. We have a global environmental
policy that is adjusted to each reality and was implemented
by our local teams by taking into account the differences and
characteristics of each centre. The coherence that is neces-
sary in the implementation of the Environmental Manage-
ment System is the consequence of the dissemination of our
Environmental Management Manuals, Tenants’ and Partners’
manuals and our business model, which is described in doc-
uments such as the Sustainability Reports. Thus, we ensure
that all parties are aligned, which is going to improve results
and show that our commitment to the environment and to
sustainability was worth it.
A new landmark was reached by MMM P when in 2010 it ob-
tained the EMAS certificate (Eco-Management and Audit Scheme) for the management of Almada Forum. This cer-
tificate represents the Excellence, Performance, Credibility
and Transparency of our Environmental Management, which
made Almada Forum the first shopping centre in Europe to
be granted this certification. It means that Almada Forum
EMAS (ECO-MANAGEMENT AND AUDIT SCHEME)
ALMADA FORUM MANAGEMENT
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achieves a level of excellence on the Environment. This cer-
tificate adds to the commitment to communicate, negotiate
and sensitize, clearly and objectively, to all Parties involved -
Inventors, Tenants, Customers and the Community.
The next step will be to develop our integrated certification,
implement it in the central structures and afterwards spread
it to every one of the centres we manage. This comprehen-
sive process began in 2010, and it will certify the work we
carry out according to the ISO 9001 (quality), ISO 14001 (en-
vironmental management) and OHSAS 18001 (hygiene and
workplace safety) standards.
DIRECT AND INDIRECT RESPONSIBILITY
In terms of environmental management, we acknowledge
that we have direct and indirect responsibilities. It is our di-
rect responsibility to:
• Promote the environmental solutions envisaged in the
plan by applying them correctly;
• Monitor the performance of the environmental vectors
by means of performance indicators;
• Identify opportunities for improvement in processes in
order to leverage the performance of the building and
the many activities that take place within it.
In addition, we acknowledge that we can also influence the
environmental behaviour of tenants, visitors and service pro-
viders. This indirect responsibility allows us to:
• Help mitigate the environmental impacts for which we
are not directly responsible, by alerting tenants, suppliers
and visitors to the importance of adopting correct envi-
ronmental behaviour;
• Aim to create a chain of suppliers that seek, through their
environmental policies, to minimise the impacts of their
activities, at the same time as we aim to influence the
pursuit of measures to reduce this damage.
ENVIRONMENTAL MANAGEMENT
The environmental management of our shopping centres observes the environmental policy principles applied in each centre and is based on environmental management systems that require appropri-ate behaviour by the centre management teams, partners and visitors.
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We have direct and indirect
environmental responsibilities.
For each of these we have a
different approach and different
management tools.
Tenants
Employees
Service Providers
Tenants
Visitors
Local Community
Employees
Service Providers
2. Influence the behaviour of
stakeholders so that they adopt
more responsible behaviours which
reduce environmental impacts.
1. Demand compliance with
environmental management
practices by means of contractually
agreed processes and procedures
Our ambition to achieve good environmental results will al-
ways be the outcome of processes associated with our direct
and indirect responsibility.
WHAT OUR STAKEHOLDERS CAN DO TO ENHANCE
THE ECO-EFFICIENCY OF OUR SHOPPING CENTRES:
The behaviour of all our stakeholders is a matter to which we
are committed, since it is on this combination of efforts and
wishes that the environmental performance of each shop-ping centre depends. In the light of this understanding, we
seek to develop initiatives designed to raise awareness, train
or enforce procedures that we consider fundamental. These
can help us in the pursuit of maximisation in terms of envi-
ronmental options arising from the project and in meeting
the objectives we have set ourselves and which are reflected
in the Environmental Management Systems.
Examples of these forms of awareness raising or encourage-
ment of more responsible behaviour are the publication of
the tenants’ and partners’ manuals which enable these stake-
holders to understand what actions the centre is implement-
ing and the ways in which they can contribute to the solu-
tion of problems and the reduction of risks or impacts.
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OWNERS
Approve investments related to the
environmental management of their
assets, in the context of the EMS
Incorporate, in their investment options,
management teams with the ability and
skills to ensure efficient environmental
management
VISITORS
Separate waste in the centre
Use more environmentally friendly
means of transport to the centre
Use water in the centre responsibly
Influence the centre management team
to adopt innovative environmental
practices
TENANTS
Make efficient use of service provider
teams with the best environmental
practices
Reduce the environmental impact
of units and adopt more efficient
consumption practices
Separate and recycle/recover waste
Adopt eco-efficient technologies
Share good practices with the centre
management, visitors, service providers
and the local community
SERVICE PROVIDERS
Put into practice and continuously
improve the environmental
management system
Coordinate the EMS aspects for which
they are responsible with the centre
management
Involve tenants and visitors in the EMS
Share and apply best environmental
practices
Raise awareness and educate about best
environmental practices
EMPLOYEES
Put into practice and continuously
improve the environmental
management system
Influence tenants, owners and visitors
to adopt best environmental practices in
the centre
Coordinate the involvement of all
stakeholders with responsibility and
influence in the process
Inform, educate and involve the local
community in the EMS applied by the
centre management
LOCAL COMMUNITY
Influence and be influenced by the best
environmental practices in the shopping
centre
Involve and be involved in the
environmental management of the
shopping centre
Establish partnerships with local
operators to improve environmental
processes and practices
ENVIRONMENTAL RESPONSIBILITIES
OF STAKEHOLDERS
PIC.
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CERTIFICATION OF ENVIRONMENTAL
MANAGEMENT SYSTEMS
Our strategic options are aimed at obtaining certification for
the Environmental Management Systems of all the shopping
centres under our management. In 2010 we maintained the
9 centres that were already certified to ISO 14001 and we
added the EMAS certification of Almada Forum.
We base this certification strategy on three fundamental
points:
1. Validating compliance with established targets;
2. Continuously identifying innovative processes that lead
to a better environmental performance;
3. Ensuring that we comply fully with the best environmental
management practices and with the applicable legal or
other requirements applying to the business;
In addition to the environmental policy, we provide the
following documents to the centre management team and
to our partners and tenants, explaining the environmental
behaviour that they should adopt:
• Environmental Management Manual, which describes
the environmental management system procedures. It
is periodically augmented with new procedures, and is
revised and updated from time to time.
• Guide to Good Environmental Practices, aimed at visitors
and tenants and including recommendations about
responsible behaviour.
• Guide of Good Practices for External Companies, which
describes to outside companies that provide services in
our centres the environmental standards that they should
comply with.
2004 2005 2006 2007 20092008
ForumMontijo
AlmadaForum
ForumMadeira
Armazéns do Chiado
Forum Aveiro
Forum Algarve
Forum Viseu
Parque Mondego
Forum Coimbra
TIMELINE OF ISO 14001 CERTIFICATION OF CENTRES
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Water consumption
per Visitor
5,6% less
Water consumptionin the common areas
270,8 thousand m3 33.4% from sources other than the public supply
WATER
Water is supplied to our shopping centres in multiple ways
and with various origins. We use rainwater utilisation sys-
tems, boreholes and water that is distributed by the public
supply. It is used for human consumption in the restaurants,
but also to clean the shops, wash the floors, for the fire pro-
tection and the watering systems, in the toilets, or even by
some decorative fountains. We recognize that water is a
scarce resource and therefore we are committed to reduc-
ing our consumption of it.
In 2010, the centres managed by MMM P consumed, in
the common areas, a total of 270.832 m3 of water 9, plus
247.969 m3 which were consumed by the tenants, for a total
of 518.801 m3 10. If we compare the consumption in the com-
mon areas, there was a 5.9% reduction from 2009, which is
the result of the effort made by our management teams in
promoting the efficient use of this resource.
Nevertheless there was a significant increase in the water
consumption of some centres. In the case of Armazéns do
Chiado this was due to the fact that the building had to be
washed prior to being painted and also because the bath-
rooms were rebuilt. When it comes to W Shopping, this in-
crease was due to the technical equipment work performed
and to the extra cleaning of the parking lots, and in Forum
Viseu to the repair of the fire fighting water tanks.
9 This amount does not include the water consumed at the head offices of MMM P, since
it is insignificant when compared with the total consumption of the shopping centres
in our management portfolio.10 Only the management of the water consumption in the common areas is the direct
responsibility of the management team of the centres. The water consumption of
the tenants is their responsibility, and the management teams of the centres are only
expected to promote efficient use, and back the implementation of efficiency measures.
Comparison with last year
5,9% less
Water Consumption (m3)
2008 2009 2010
300.000
250.000
200.000
150.000
100.000
50.000
250.572267.428
270.832
Total water consumption
250.572263.356
247.863
Comparable consumption
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Public water supply Groundwater (boreholes)
Rainwater
Water Consumption By Source (m3)
180.446
67%
10.991
4%
79.395
29%
Water consumption in the common areas 2008 2009 2010Var. 2009
2010
Total water consumption (m3) 250.572 267.428 270.832 1,3%
Comparable consumption (m3) 250.572 263.356 247.863 -5,9%
Water consumption/GLA (litres/m2) 913 875 887 1,4%
Water consumption/Sales (litres/mil €) 311 334 310 -7,2%
Water consumption/Visitor (litres/visitor) 3,50 3,71 3,50 -5,7%
Description of the initiatives to reduce water consumption
Amount saved
Installation of a smart watering system in Forum Algarve
3.277 m3
Installation of water flow reducers in the taps of Forum Aveiro and Forum Montijo
469 m3
Installation of a water buffer tank in the borehole that provides water used for cleaning in Forum Montijo
9.000 m3
Monthly posting of the water consumption of Forum Madeira in the loading area
-
The promotion of the efficient use of this scarce resource
has followed two paths. On one side, we have made vari-
ous investments to directly decrease consumption, such as
installing water flow reducers in the taps of every bathroom
in most of our centres, smart watering systems and buffer
tanks. On the other side we have promoted good practices
through the use of signs in the public and staff areas, which
many times include the amount of water consumed and the
results of our water saving efforts. We are also committed to
certifying the water destined for the tenants and for human
consumption by conducting periodic analysis to validate its
quality. In order to avoid wasting this resource, we regularly
control the tenants’ consumption, and alert them if there are
any significant or unexplained variations, caused by leaks or
any other problem in their internal network.
We continued to use alternative sources, such as untreated
water for the watering systems, cleaning or filling up the fire
fighting water tanks. Of the 270.8 thousand m3 of water con-
sumed in the common areas, nearly 80 thousand m3 were
provided by underground boreholes in Almada Forum, Fo-
rum Coimbra and Forum Montijo and almost 11 thousand m3
by the rainwater utilisation system in Forum Viseu. The re-
maining 180 thousand m3 were supplied by the public mains.
These sources represented 33.4% of the total consumption.
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Breakdown of water consumption by source 2008 2009 2010Var. 2009
2010
Public water supply 150.763 164.149 180.446 10%
Groundwater (boreholes) 88.749 92.232 79.395 -14%
Rainwater 11.060 11.047 10.991 -1%
Estimating that 80.0% of water consumed is subsequently
disposed of, the volume of wastewater produced was 216.666
cubic meters. Since this water will be returned to the entities
responsible for treating it, generally the municipal sewage
treatment systems, MMM P together with external compa-
nies conducts periodic analysis to ensure that any measures
that are undertaken to reduce water consumption will not
adversely affect any other entity.
ENERGY IMPACTS AND ASSOCIATED CO2 EMISSIONS
The Regular operation of the shopping centres and the re-
quirement to keep the necessary levels of comfort for its us-
ers entail high energy consumption. In 2010, the total (direct
and indirect) energy consumption was 131.618 GJ 11, which
is an 8.4% reduction from 2009. We also reduced the energy
consumption by GLA and by sales.
According to our Environmental Management plans, the
local teams closely follow the performance of the projects,
especially the ones that regarding energy, have the most en-
vironmental and economic impact. Therefore, they are able
to act pre-emptively by making the necessary adjustments
and investments to improve the efficiency of the buildings,
which this year resulted in a significant energy consumption
reduction.
Energy consumptionby GLA
0,6% lowerthan last year
Total energyconsumption
131.618 GJ
11 This amount does not include the energy consumed at the head offices of MMM P,
since it is insignificant when compared with the total consumption of the shopping
centres under our management.
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Energy consumption 2008 2009 2010Var. 2009
2010
Total energy consumption (GJ) 129.851 132.396 131.618 -0,6%
Comparable consumption (GJ) 129.851 129.920 118.987 -8,4%
Energy consumption/GLA (GJ/1000 m2) 473 433 431 -0,5%
Energy consumption/Sales (GJ/thousand €) 161 165 151 -8,5%
Energy consumption/Visitors (GJ/Visitor) 38,81 42,71 45,65 6,9%
Total electricity consumed was 121.4 thousand GJ or 92.2%
of the overall amount, which is an 8.7% reduction when
compared with 2009. Natural gas consumption constituted
7.7% of the total energy consumption, which is also a 3.7%
reduction. This year we also took into account the consump-
tion of Propane Gas used in the heaters of Forum Algarve
and Aveiro, and diesel fuel, used for the emergency genera-
tors and pumps, and proportionally they make up only 0.12%
of the total energy consumed.
The significant reduction in the consumption of electricity is
the result of measures implemented at the operational level.
In Forum Algarve we adjusted the Chiller’s set-point, modi-
fied the lighting of the parking lot and installed a new more
efficient HVAC pump. In W Shopping we changed the sched-
ule of the HVAC system.
Due to the low temperatures recorded at the end of the year,
the consumption of Natural Gas increased in Forum Coim-
bra and Forum Montijo. The heating systems were turned on
for longer periods in order to ensure the necessary thermal
comfort of the visitors.
The fact that there was an increase in the overall consump-
tion of natural gas while at the same time a reduction in the
comparable values is due to the fact that Espaço Guimarães
was not included in the comparison because it only operated
for a few months in 2009.
Energy consumption (GJ)
2008 2009 2010
150.000
100.000
50.000
0
129.851132.396
131.618
Total energy consumption
129.851129.920
118.987
Comparable consumption
Electricity consumption (GJ)
Natural gas consumption (GJ)
150.000
100.000
50.000
0
125.468125.494
121.384
Electricity
125.468124.307
113.448
Comparableelectricity
4.383
6.902
10.069
Natural gas (GJ)
4.3835.403 4.403
Comparable natural gas
12.000
10.000
8.000
6.000
4.000
2.000
0
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Breakdown of energy consumption by source(GJ)
2008 2009 2010Var. 2009
2010
Electricity 125.468 125.494 121.384 -3%
Natural gas 4.383 6.902 10.069 46%
Propane gas 12 ND 9,8 55 461%
Diesel fuel ND ND 110 -
Electricity comparison 125.468 124.307 113.448 -9%
Natural gas comparison 4.383 5.613 5.403 -4%
Propane gas comparison ND ND 55 -
Diesel fuel comparison ND ND 81 -
Consumption of indirect energy (electricity) by primary source (GJ)
2008 2009 2010
Hydro 18.867 18.871 18.530
Hydro – Special Production Regime (SPR) 1.763 1.763 5.244
Wind 17.257 17.261 35.798
Cogeneration and micro-generation (SPR) 10.401 10.404 17.851
Natural gas 43.148 43.157 22.397
Fuel oil 1.838 1.838 673
Coal 22.400 22.405 10.624
Nuclear 7.460 7.461 4.849
Others 2.335 2.336 5.418
Measures implemented to reduce energy consumption Amount saved (kWh/year)
Installation of 20 self-contained emergency lighting units with 2.1W LEDs in Forum Madeira
1.033,68 kWh/ano.
Investment made in Almada Forum at the end of 2009, to replace the 5.550 parking lot lights with more efficient ones (from TLD58w to T5)
761.594 kWh
The constant improvement of the facilities and investment
in initiatives to reduce energy consumption are part of MMM
P’s plans. Below we present the most significant measures
carried out and the amount of energy saved in 2010:
Below we present the energy consumption by primary
energy source.
12 For 2009 we only present data related to propane consumed in Forum Algarve.
For 2010 is also included Forum Aveiro.
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Measures implemented to reduce energy consumptionSavings
(kWh/year)
Replacement of the light bulbs in Forum Aveiro with more efficient ones 10.242 kWh
Connection of the Air Handling Units’ speed controllers to the central technical management of Forum Montijo
84.876,9 kWh
Optimization of the HVAC and lighting schedules of Forum Montijo 113.169,2 kWh
Replacement of the incandescent outside Christmas lights for LED lights in Forum Montijo
56.584,6 kWh
Installation of highly energy efficient motors in Forum Montijo 28.292,3 KWh
Energy rating Shopping Centre
A Forum Montijo – Retail
BParque Mondego, Forum Coimbra and Espaço Guimarães
C
Armazéns do Chiado, Forum Aveiro, Forum Madeira, Forum Viseu and W Shopping.
During 2010 we also finished the energy certification proc-
esses of all of the projects that make up our portfolio.
GREENHOUSE GASES
The reduction in the energy consumption of the centres
coupled with the changes in the country’s energy mix con-
tributed to a 30.9% decrease in total CO2 emissions which
were 24.813 tons of CO2.
Even though they only amount to 2.3% of total emissions,
there was a 119.7% increase in the emissions caused by air
travel and a 26.5% increase in the emissions of the company’s
cars. Our greater reliance on videoconference systems and
on teleworking was not sufficient to offset these increases.
24.813 ton CO
2 emissions
30,9% lessthan in 2009
31,7% less CO
2 emissions
per million sales (in comparable amounts)
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CO2 emissions 2008 2009 2010
Var. 20092010
Emissions from energy consumption(ton CO
2e)
24.685 36.814 24.234 -34,2%
Emissions from work-related air travel(ton CO
2e)
129 152 334 119,7%
Emissions from work-related car travel(ton CO
2e)
ND 193 245 26,9%
Total emissions 24.814 37.160 24.813 -33,2%
Total emissions/GLA (ton CO2e/ 1000 m2) 90 122 81 -33,6%
Total emissions/Sales (ton CO2e/M €) 31 46 28 -39,1%
Total emissions/Visitors (ton CO2e/M visitors) 346 515 321 -37,7%
WASTE PRODUCTION
Waste production by the tenants and visitors is part of the
normal functioning of a shopping centre. MMM P’ Environ-
mental Management strategy involves raising the awareness
of both groups regarding the need to produce less waste,
and whenever possible recycle or even reuse waste (on the
part of the tenants).
A vast amount of signage at strategic points in the common
areas, combined with waste containers that permit separa-
tion, contribute to incentivize and raise the awareness of
our customers to this issue. We have also conducted a large
advertising campaign that includes television spots, to com-
municate to all our Visitors that “Pontos Electrão” have been
installed in our centres, which give our visitors the ability
to freely dispose of various types of waste, namely electri-
cal and electronic equipments, also called WEEE. This action
was developed with the support of Amb3E, a company that
manages these types of waste. Our tenants have appropriate
areas at their disposal where they can separate paper, card-
board, plastic, wood, clothes hangers and WEEE. Accompa-
nying this measure there is information regarding their func-
tioning and our environmental policies.
The total amount of waste produced was 9.276 tons, which
is practically the same amount that was produced in 2009
(comparing the same number of centres). Hazardous waste
was kept at 3%. In 2010 the recycling or reuse of waste was
70% which is an increase of 6 percentage points from last
year.
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Waste production 13 2008 2009 2010Var. 2009
2010
Total waste 8.939 8.924 9.276 3,9%
Comparable amount 8.939 8.812 8.790 -0,2%
Waste/GLA (ton/1000m2) 31 29 30 3,4%
Waste/Sales (ton/M €) 11 11 11 0%
Waste/visitors (ton/M visitors) 124 124 120 -3,2%
Hazardous waste (ton) 56 289 269 -6,9%
Hazardous waste % 1% 3% 3% 0%
Recovered waste % 39% 64% 70% 6 p.p.
2008 2009 2010
Waste production (ton)
8.939 8.924 9.276
Total waste
8.939 8.812 8.790
ComparableWaste
10.000
8.000
6.000
4.000
2.000
0
The increase to 70% in the percentage of recovered waste is
because of the reduction in the amount of waste sent to the
landfill and the higher rate of composting (+5 p.p. up to 29%)
and recycling (plus 2 p.p. to 38).
70%of waste recovered
Waste per million visitors 1,4% less
Hazardouswaste 7% less Waste disposal 2008 2009 2010
Var. 20092010
Landfill 5.429 3.193 2.814 -12%
Recycling 3.150 3.257 3.479 7%
Incineration 259 324 268 -17%
Composting 101 2.150 2.675 24%
Physicochemical treatment 0 0 38 -
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Forum Barreiro and Castelo Branco which are no longer part of MMM P’s portfolio.
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2008 2009 2010
Paper consumption (ton)
7,3 6,4
12,4
Total paper consumption
7,36,2
11,5
Comparable paper consumption
15,0
10,0
0,5
0,0
The waste produced is mostly organic with 2.836 tons which
represent 31% of the total, MSW - 2.772 tons - 30%, paper and
cardboard – 2.322 tons or 25%. The remaining amount con-
sists of various types of waste.
CONSUMPTION OF RAW MATERIALS
Paper is one of the most heavily used raw materials in ad-
ministrative work. For this reason, we monitor our consump-
tion which in 2010 totalled 12.4 tons. 6.8% of that amount
was recycled paper.
During 2010, we replenished our stock of paper in Forum
Montijo, which contributed to the increase in total consump-
tion, because in this specific case we calculate consumption
based on how much paper is bought during the year.
Paper consumption 2008 2009 2010Var.
20092010
Total paper consumption (ton)
7,3 6,4 12,4 94,3%
Comparable paper consumption (ton)
7,3 6,2 11,5 85,6%
Consumption of recycled paper (ton)
1,0 1,3 0,8 -37,1%
Comparable recycled paper consumption (ton)
1,0 1,3 0,8 -37,4%
% of recycled paper in the total
14% 21% 7% -14 p.p.
Waste disposal (ton)
2.814
3.479
30%
38%
38
0,4%
268
2.675
3%
29%
Landfill
Incineration
Physicochemicaltreatment
Recycling
Composting
7% of paper consumed is recycled
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Valuing People
03.4 Companies can distinguish themselves by their organiza-
tion models, strategic position or by their portfolio of prod-
ucts and services, but their identity and capacity to generate
value is mainly connected to people, this is especially true
for the shopping centre management market. Currently, our
sector seeks to retain the best professionals and adjust their
work to the conditions of the market.
“People First” is the human resource management model
chosen by MMM P to differentiate itself from its competitors.
Our people and the way in which the teams are organized
are what distinguishes us and allows us to manage our port-
folio of products using two complementary models. On one
side, we have a close relationship and create bonds of trust
with the Tenants, Partners and Visitors through our large lo-
cal teams. On the other side, with the broad vision of our
central structures we can share knowledge and choose the
practices that will have the best results and contribute to
the satisfaction of Owners and Tenants. We consider “Team
Management” to be one of our strategic areas. Our commit-
ment to people, implemented through our Business School,
is focused on training, and in career development. This will
attract and retain the best employees and provide the con-
ditions so that all the elements can distinguish themselves
by their excellence. The evaluation and the career progres-
sion models work as additional tools to motivate and at the
same time ensure the performance of the teams so that we
can meet the expectations of the Owners, Tenants, Visitors
and remaining Stakeholders. The clarification of our Policies,
Principles, and code of conduct to which we subscribed in
2009, not only makes it possible for anyone to scrutinize
them, but also promotes compliance with the law and with
the ethical standards that are part of the company’s culture.
Throughout 2010 we consolidated our teams and prepared
the company and its people for new challenges.
Type of employment contract
87
95%
5
5%
Fixed term contract
Permanent
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95%of employees are on a permanent contract
1,89 Ratio between Lowest salary / National minimum wage
PROFILE OF OUR TEAM
In 2010 we adjusted our team to our portfolio, from 104 to
92 employees, which is a 12% reduction. There are no part-
time employees and the number of fixed term contracts de-
creased 50%, i.e. 5 contracts, the remaining 87 employees
have a permanent contract with the company.
Our total employee turnover rate was 13.2%, 6.4% for men
and 18.6% for women. This was caused by the departure of 3
male and 11 female employees, which balanced the gender
ratio – 44 / 48. Most of the elements that left (86%) were
Assistants. This shows that when there is a need to adjust
the company to a new circumstance, MMM P’s strategy is to
retain the talent of the best qualified employees as this will
maintain and increase its difference from the other compa-
nies in the market.
Gender Balanced Company 52% Mulheres
48% Homens
Employee turnover rate (%)
TotalMale Female
5,9 6,46,1 4,8
18,614,7
5,3
13,211,1
2008 2009 2010
Employees by gender (nr)
TotalHomens Mulheres
48 444660
4858
10892
104
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Employee turnover rate 2008 2009 2010
18 to 34 years old 2,6% 5,1% 28,1%
35 to 44 years old 0,0% 3,4% 9,1%
45 to 54 years old 0,0% 0,0% 0,0%
Employee turnover rate - Female 4,8% 8,5% 18,6%
Total employee turnover rate 5,3% 11,1% 13,2%
In our team most employees are between 35 and 44 years
old, and the average age is 36.8. Assistants form the largest
occupational category, with about 50% employees, followed
by Centre Manager (24%) and Department manager 17%.
The lowest salary paid by MMM P is 53% higher than the min-
imum wage in Portugal. There are no significant differences
in the female-to-male earnings ratio. The maximum interval
remains the same at 1.12 in the regional manager category
and the minimum at 0.83 in the Centre Manager category.
AGE GROUP AND OCCUPATIONAL CATEGORY
18 to 34 35 to 44 45 to 54
Female Male Female Male Female Male
Director 0 0 0 0 0 2
Regional Manager 0 0 1 3 0 2
Centre Manager 2 4 7 7 1 1
Department Manager 4 2 5 5 0 0
Assistant 17 6 7 11 4 1
Age and gender Total 23 12 20 26 5 6
Age Total 35 46 11
Employee turnover rate 2008 2009 2010
18 to 34 years old 0,0% 0,9% 7,7%
35 to 44 years old 2,6% 1,7% 3,7%
45 to 54 years old 0,0% 0,0% 14,3%
Employee turnover rate - Male 5,9% 2,6% 6,4%
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Female-to-male earnings ratio 2008 2009 2010
Regional Manager 1,01 1,12 1,12
Centre Manager 0,81 0,84 0,83
Department Manager 0,98 0,97 0,96
Assistant 0,82 0,82 0,85
Lowest salary/national minimum wage ratio 2008 2009 2010
Lowest salary/national minimum wage 2,10 2,00 1,89
MMM P provides, without any distinctions between employ-
ees, a broad health insurance package, which not only cov-
ers the employees but also their families. We also provide life
insurance with incapacity /disability coverage for workplace
accidents and work related travel. Taking into account the
size and geographical spread of the teams we do not think
it is necessary for the business to have formal health and
security committees. There is also no collective bargaining
agreement. However, there is complete freedom to associate
and to exercise the fundamental right to unionize. We com-
ply with the law and the deadlines, regarding the previous
notification of any operational changes in the organization.
WORKPLACE SECURITY AND HEALTH
In 2010 there were no accidents in the workplace or occu-
pational illnesses, and there were a total of 987 accidents in
the shopping centres under our management. 765 of those
accidents involved visitors (in 77.4 million visitors) and 222
involved shop employees (in a total of 14.377 direct and in-
direct employees, who work every day in our centres). From
August 2009 to July 2010 there was a contingency plan in
place for the influenza A virus, which included a large set of
measures to protect and support our employees, visitors, and
the shop and service provider staff.
As we have said before, in 2010 we began the implementa-
tion of an integrated management system, which will con-
tain the workplace hygiene, security and health areas. This
system will support the centres in managing the risk, and this
will improve our performance in these areas, which are con-
sidered by us to be strategic for the success of our business.
0Workplace accidents
0,0013Absenteeismrate
0Occupational illnesses
P. 7
3
TRAINING AND KNOWLEDGE SHARING
Conforming to its “People First” strategy, MMM P is charac-
terized by the spreading of information and the sharing of
knowledge. This good practice extends to the teams, projects
and to the work carried out by the employees of the compa-
ny. These employees have at their disposal information sys-
tems and data that can help them in their performance. We
also continued to foment working groups, organised train-
ing sessions, meetings, get-togethers and parties in which
knowledge can be shared through formal and informal
mechanisms; this is one of the strengths of our company.
As in 2009, we continued to promote internal training, by
taking advantage of the accumulated knowledge and the
vast experience of our employees, and using the Business
School to share that expertise. We carried out the action
related to customer service quality and improved the GIFT
CARD, by using a similar model which proved to be effective.
To this effect, we prepared and carried out a training action
to the employees in charge of implementing and managing
the GIFT CARD service in each centre, who then shared and
implemented that methodology with their respective local
teams. The change of financial software was responsible for
41.3% of the total training hours and the actions regarding
Sustainability were the ones which involved the most em-
ployees – 23.
The main topics covered in the training on sustainability
were: The implementation of the Multi Sustainability Index,
the measures and actions in the Operational Sustainability
Plan, the sustainability performance of MMM P and the or-
ganization and preparation of a new Sustainability Report.
The work carried out in this area also included the upcoming
MMM P Portal and the transition of employees to other shop-
ping centres in our network in order for them to acquire new
experiences, working methods and contacts.
The Assistant category received the highest number of train-
ing hours, with 135 accumulated hours and 9 hours per em-
ployee being trained. The Department Managers received the
highest average number of hours. Around 40% of MMM P’s
employees were given training and on average each trainee
received 8 hours’ training. There were a total of 26 sessions
throughout the year.
Occupational categories
Total training hours
Average hours of training per category
Regional Manager 3 3,0
Centre Manager 63 5,3
Department Manager
99 11,0
Assistant 135 9,0
Total 300 8,1
8,1 hoursof trainingper employee
40%MMM P employees who received training
300 hoursInternaltraining given
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CAREER PROGRESSION AND SKILLS DEVELOPMENT
MMM P has established a meritocratic culture which rewards
employees who achieve better performance. The company
has created a skills map which determines the skills and
profiles required. This map enables us, in the light of the at-
tributes of each member of our team, to determine the skills
that each individual needs to develop.
The assessment system, inherited from the Multi Corpora-
tion, is applied annually. All employees are evaluated by their
immediate superior, and each department manager, cen-
tre manger and regional manager assesses their team as a
whole. This method, which has been used since the found-
ing of the company, enables us to assess trends, achieve
objectives and perform comparative analyses in an interna-
tional and multidisciplinary population.
The evaluation of employees is based on three parameters:
• behavioural assessment, in which we consider aspects
such as motivation and satisfaction;
• individual performance assessment, in which we assess
the degree of achievement of the objectives proposed
and agreed in the previous year;
• development of the employee’s skill and knowledge;
Top managers are evaluated in terms of their success in im-
plementing the key tools and processes for managing social
and environmental impacts, as agreed with the Board.
SIX STEPS FOR THE FUTURE
Our teams strive for excellence and are committed to creat-
ing and keeping the highest quality standards in the centres
they manage and in the activities they carry out.
Because we believe we can create our future and contribute
to the progress of our industry and our company, in 2010 we
worked to develop and implement around 6 new projects.
They are the result of our commitment to People.
The specific characteristics and complexity of each shopping
centre pose a problem for the Owners and Managers when
they want to compare performances and results, especially
regarding sustainability and other non-financial parameters.
The conception of a new tool, the Multi Sustainability In-dex (MSI), developed internally with strong support from the
Sustentare company (our partner in Sustainability matters)
shows our willingness to innovate to provide the market and
our peers with a tool that will make it easier to compare and
identify good practices, by making more similar what is now
different. To the creation of the MSI, which was presented
100%of employees have been evaluated
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internally for the first time in 2010, contributed a large group
of employees, all the way from Directors to Assistants.
In MMM P we value the use of systems to support and moni-
tor the activity of the assets under our management, es-
pecially if those systems can also be used for other areas,
namely financial, commercial, Tenant control and support,
marketing and operational. In the Operational field, we have
developed internally in the last few years, with the support
of an external company, a software called ISOM - Integrated System of Operational Management (it may in the future be
expanded or connected to other areas) which enables us to
record the operational events that occur in the centres. This
system is used to manage emergencies, technical issues,
operational records and other complementary information.
It allows us to obtain predefined reports from its database.
We continued the development of this project in 2010, by
studying its compatibility with new applications and making
continuous improvements. This program is already used by
other companies in our sector of activity, which shows its
pertinence and value.
Together with the ISOM project and because of the high im-
portance of information technology, particularly when it is
at the service of the company (and not the opposite), we
decided to take a new step to facilitate and expedite our rela-
tionship with our tenants and partners, through the internal
development, with the support of Y Dreams, of the MMM P Portal. This portal will serve to directly and instantly con-
nect the various entities, and facilitate their interaction and
the access to relevant information, especially regarding the
sustainability of the business. For example its implementa-
tion will make it easier to consult the Job Centre databases
of each centre, schedule meetings with our local teams or
access sales information.
As a complement to this, in 2010 our financial department
began the implementation of the Yardi system used to man-
age real estate projects. Our financial and accounting sys-
tems are based on this software, which allows us to cross-
check data, as it is prepared to receive information from
other systems and external sources, such as footfall counting
systems, the MMM P Portal or others. Its initial implementa-
tion will be completed in 2011, and we can expect further
improvements to be made after this date.
In 2010 the MMM GIFT CARD continued to play a star role in
our shopping centres. This project was developed internally
to make our Customers’ lives easier by providing them with
a simple and highly effective way of giving a present that al-
lows the person that receives it to choose exactly what they
want to get. As a result the person who gives it does not take
the risk of giving the wrong present. The effort of our teams
was focused on Customer service, on the optimisation of the
sale process, and on the creation of new campaigns that pro-
vide a large set of advantages to the users of the MMM Gift
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Card. Our example was followed by other players in the mar-
ket, which shows the quality of our teams and of everyone
who backed this winning idea.
MMM P’s next step on its way to excellence is the implemen-
tation of the Integrated Certification systems which will in-
clude the ISO 9001 (quality), ISO 14001 (environment) and
OHSAS 18001 (HSW) standards. This option will oblige us to
continue down the road we have chosen and it will help to
structure the company. It will also enable us to turn part of
the tacit knowledge that is held by people and in informal
networks, into written information which can be shared with
everyone.
We are aware of the difficulties that will come up when these
systems are completely implemented, however we believe
that we will be even better prepared to face the future and
that they will not only generate value, but also ensure that
each person who chooses to work at MMM P will become a
better professional.
SIX STEPS
FOR THE FUTURE
GRA.
Integrated CertificationISO 9001, ISO 14001 and OHSAS 18001
YARDI
MMMGIFT CARD
Portal MMM P
Multy Sustainability Index
ISOM - Integrated System of Operational Managment
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The real owners of a shopping centre are the people in the
surrounding Community. This is the Community that the
centre should listen to, interact with and satisfy, by becoming
the driving force behind its development.
In the same manner that shopping centres have anchor stores
to increase their appeal, cities use shopping centres to develop
certain areas, increase the value of their neighbourhoods or
to differentiate themselves from the competing metropolises.
Accordingly, in MMM P, we recognize the responsibility to
promote the cities where our centres are located and the
necessity to maintain bonds of trust with their Communities.
The strength of this relationship will dictate the success
of the project in the long term. Our responsibilities are to
create jobs, an increasingly scarce commodity, and also
to provide a comfortable centre that is prepared to satisfy
the various needs of the population by providing leisure
services, restaurants or just by being a social hub. Another
one of our responsibilities is to directly intervene outside of
the scope of the centres, wherever necessary. The marketing
and communications manager of each centre is the link
with the local community, and the person who deals with
the majority of the bodies that contact us every day. During
the year we had more than 110 meetings with the various
representatives of the Local Community.
Valuing the Community
03.5
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Our approach regarding the community and the social
domain was materialized in our Philanthropy Policy.
PHILANTHROPY POLICY
OUR COMMITMENT TO THE COMMUNITY
We believe that each of our shopping centres contributes to the de-velopment of the surrounding communities. As well as creating jobs and developing the economic fabric of the localities where we oper-ate, every shopping centre we manage offers access to a wide range of products and services. At the same time, it also offers leisure and culture facilities to all who visit us. As an integral part of the local community, we recognize that conducting our business in a socially responsible way means being a business that proactively cooperates with other or-ganizations in creating solutions to the challenges faced by individual communities.
We are committed to conducting our business in a socially responsible way through the creation of and participation in projects or activities which benefit the community in the long term. In this context, we will act as agents for the promotion of national and local social support initiatives, and our policy will be to give greater emphasis to local initia-tives incorporated into national programmes. Our support for the com-munity will be provided in the following areas:
PROMOTING A MORE PARTICIPATIVE AND INFORMED SOCIETY
We aim to help build a more informed and civically participative society. Our contribution will be made by promoting national awareness cam-paigns in the MMM P shopping centres. The initiatives will be developed around a single issue in all the shopping centres. Their objective will be to raise awareness in the community about a specific issue related to today’s social and environmental challenges. Whenever possible these actions will aim suggest forms of behaviour to the visitors of our centres that will make them part of the solution to the highlighted problem;
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CONTRIBUTING TO THE CREATION OF SOCIAL VALUE IN THE COMMUNITIES
WHERE WE ARE PRESENT
The management team of each shopping centre annually identifies the needs of the non-profit associations and organizations in the local com-munity. To respond to the most important local problems, the shopping centre management team sets out a social support plan, setting out the contribution which the centre can make, taking into account the available financial and human resources. Our objective, as set out in the plan, is to cooperate with local organizations and help them maximize the social benefit to the public for which they were founded.
The support included in this social support plan may take the form of donations in cash or kind and the offer of space in the shopping centre to promote the organization’s initiatives.
To achieve these commitments we will build and strengthen dialogue with local organizations with a view to establishing long-term partner-ships with them which create value in the communities where we op-erate.
All requests for support will be considered and we will give particular consideration to those that enable our employees to be directly and personally involved. We regard this participation as fundamental to the personal development of our employees and to enhancing their sense of citizenship through the experience of volunteering.
(…)
MMM P will review this policy at three-year intervals so that it constantly reflects the company’s situation and best matches the needs that arise in the context of our social responsibility.
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JOB CREATION
Since its first Project MMM P has provided to anyone inter-
ested an Employee Exchange program. This project, which is
available in every centre, collects the job applications filled
out in our internet websites or delivered in our information
desks and head offices. This database can then be accessed
by tenants, partner companies, service providers and even
by our own teams, to find a vast number of potential em-
ployees, who are generally from the surrounding area and
who show interest and motivation in developing their pro-
fessional careers through our projects.
Our projects have a very high impact in the creation and
maintenance of jobs. In 2010, the number of direct jobs, i.e.
everyone that works directly in the centre, either for the ten-
ants, service providers or for the centre management, was
10.851. In addition to this, there were 6.087 indirect jobs, such
as tenants’ suppliers and others who are indirectly connect-
ed to the projects.
TENANTS FROM THE LOCAL COMMUNITY
The close relationship between the centre and the surround-
ing region also implies the attraction of Tenants from the
Local Community so that they can set up business in our
centres. In 2010 there was a 24.5% increase from 2009 in the
number of Tenants from the Local Community, who are now
249. Their presence is important, because on one hand they
know and are adjusted to their Customers and on the other
hand, they contribute to local prosperity and to the better
performance of the shopping centre.
PROMOTION OF LOCAL ENTREPRENEURS
The Local Community is also represented in our centres by
the 172 local Entrepreneurs who, in 2010, trusted our projects
and carried out their business with us. This way, MMM P con-
tributed to the development of new ideas, new businesses
and new opportunities, which many times are used to pro-
mote products and services from the surrounding region. We
back the implementation of these ideas in our centres, and
this assures the entrepreneur who is then motivated to go
further and to do better.
SUPPORT FOR THE COMMUNITY
Solidarity is present in various ways in the daily management
of our centres. People’s affluence and their readiness to be
approached and sensitised towards certain topics, transform
our shopping centres into an excellent place to raise aware-
ness and raise funds for social, cultural and solidarity organi-
zations. Throughout the year, after we confirm their impor-
tance and the owner approves, MMM P freely provides these
institutions, with space in the common areas of the centres
16.938Direct and indirect jobs
Local Entrepreneurs
17259,3% morethan in 2009
Tenants from the Local Community
249 24,5% morethan in 2009
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(generally in places with high visibility and traffic) where they
can carry out their campaigns. During 2010, in all of the cen-
tres we provided 1.507 days of free space use, which would
be worth more than 334.8 thousand Euros.
The collection of donations directly by MMM P, fundraising 14 and direct cash donations were some of the other ways in
which we collaborated with the Community and supported
certain causes. The amount collected, around 38.9 thousand
Euros, was given to causes ranging from the Christmas cam-
paign of Almada Forum which supported “Ajuda de Berço”
(that also received a direct donation of 12.5 thousand Euros),
to the “Alta Segura” campaign carried out by APSI which was
chosen by the Call Group in Forum Algarve, and to the giv-
ing of more than 1.100 food baskets, by our Visitors, Tenants
and by companies from the local community to poor fami-
lies picked by local institutions connected to ENTRAJUDA, in
partnership with the Food Bank Against Hunger. Direct dona-
tions totalled 17.4 thousand Euros, which were mainly given
to “Ajuda de Berço” in the context of the campaign developed
through Almada Forum’s Facebook and to the service pro-
vider teams of Forum Madeira in the form of Gift Cards.
Our centres also contributed with more than 15.3 thousand
Euros through initiatives such as exhibits, hospital visits dur-
ing Christmas and donations in kind.
Our employees also led by example as they dedicated part of
their working time, 820 hours to Philanthropic activities for
the benefit of the Community.
14 Fundraising consists of the amounts that were not directly donated by MMM P. They
were instead collected through initiatives carried out in the shopping centres.
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Community support
334.891 €
82%
15.281 €
4%
17.414 €
4%
38.874 €
10%
Offer of space
Direct donations
Collection of funds
Organisation of initiatives
Graph Note: Fundraising has no effect on MMM P’s budget because it consists of the
donations collected by external companies in initiatives carried out in the shopping cen-
tres. MMM P contributed to these donations solely by freely providing the space where
they could be collected. These values are not included in the community support areas
of the GRI, EC1 and EC8 indicators.
TESTIMONIAL
AJUDA DE BERÇO
“With this help, Almada Forum has eased the anguish that we may have had to close one of our homes and stop taking care of more than 20 children, who would certainly have felt abandoned once more in their short lives. This help will also go to the more than 20 children in our other home, which will be able to continue working.
Sandra Anastácio – Ajuda de Berço
“It was a privilege – I was really close to myself and it was good to feel the heart creating”
Pedro Oliveira - Happy Brands
“It was a truly unique experience to develop the “Dê Colo à Ajuda de Berço” campaign. It was interesting to see the commitment and deter-mination of everyone involved in this cause. It was a great challenge at the creative level but, above all it is a great satisfaction to take part in this peerless solidarity movement.”
Tiago Charrua – Happy Brands
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PROJECT FOR POOR FAMILIES
The food baskets collected by Multi Mall Management helped
1.111 families. In the context of its Social Responsibility pol-
icy, MMM P promoted together with Entrajuda, the project
Christmas for Everyone. This project was part of the Christ-
mas campaigns of the Shopping Centres under our manage-
ment, and the objective was to provide a Christmas meal to
poor families. On a national scale the project gave more than
1.100 food baskets which helped thousands of people.
This year’s edition of Gui’s book – “Gui e a Aventura na
Quinta das Macieiras” – and educational book offered during
Christmas in the Shopping Centres managed by Multi Mall
Management, challenged the visitors to make a Christmas
Food Basket to give to needy families.
The Christmas for Everyone initiative collected more than
1.100 food baskets, which were the product of the solidar-
ity of visitors, tenants and partners in the shopping centres
managed by MMM P - Forum Aveiro, Armazéns do Chiado,
Forum Algarve, Parque Mondego, Almada Forum, Forum
Montijo, W Shopping, Forum Madeira, Forum Viseu, Forum
Coimbra, Galeria Comercial FN – Sintra, Espaço Guimarães
and Braga Retail Centre.
The food baskets were given to social solidarity institutions
picked with the support of Entrajuda. This is a solidarity in-
stitution whose objective is to support other intuitions at the
organization and management level, in order to improve
their performance and efficiency when it comes to helping
people in need.
This was the 4th edition of GUI’s book, which every year is
freely given by Santa Claus in the shopping centres man-
aged by MMM P. This book combines the pleasure of reading
with an educational message which draws the attention of
all children and their families to a social cause.
MMM P also combined its environmental commitment with
this project, by compensating for the greenhouse gas emis-
sions (GHG) caused by the production and printing of GUI’s
book. We compensated for 6.87 tCO2e (93 gCO
2e per book),
through the offset of an equivalent amount of carbon dioxide
in Alqueva’s “CarbonoZero” forest. The emissions we com-
pensated for were necessary for the production of the books,
namely: paper pulp production and printing/finishing of the
book.
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Food baskets givenby the Christmas campaign
1.100 baskets
820 hoursHours spent by our staff on philanthropic activities
In 2010 we initiated the pilot-project Multi Stakeholder
Group 2 (MSG2), which is part of the Sustainability Govern-
ance model, with the goal of integrating ideas and meeting
the expectations of our stakeholders at the local level. The
MSG2 which was implemented first in Forum Algarve, un-
der the name CALL Group, consists of elements from the
Local Community who have the opportunity to transmit to
the Board of the Forum any problems and concerns felt by
the Community that they represent. They also participate in
the definition of joint strategies which create social value for
the Community. In this context, this group which included
such distinct entities as the University of Algarve, the Faro
City Council, the regional offices of the Institute of Employ-
ment and Vocational Training (IEFP), the Casa dos Rapazes,
the Refúgio Aboim Ascensão, among others, developed an
application plan for Local Community Support Projects. We
received applications from 12 organizations with 15 different
projects. The Jury (comprised of MMM P, Sustentare and TÜV
Rheinland) and the Advisory Board (composed of the Pro-
vincial Government of the Faro District and CCDR Algarve)
decided to support the “Alta Segura – Transporte do Recém-
nascido no Automóvel” project proposed by the Associação
para a Promoção da Segurança Infantil (APSI). The objective
of this project is to promote the safe transportation of newly
born babies in the Algarve region, starting from their first trip.
During the Christmas season, APSI had a space in Forum Al-
garve near Santa Claus’s village where visitors could obtain
information about the importance of adopting correct and
safe practices when travelling by car, especially considering
that, according to APSI’s data, of the more than 80% of chil-
dren that use children’s seats, more than half use them incor-
rectly and 14 children per day are victims in a car accident. As
a result, during this year’s Christmas season the amount paid
for the carousel and the train in Santa Claus’s village (0.50 €
for each ride) was given to APSI for the development of the
“Alta Segura” project, whose objective is to implement child
and maternal health appointments in hospitals and a support
and counselling service for pregnant women and families re-
garding the transportation of newborn babies in cars.
TESTIMONIAL
ENTRAJUDA
“I am very thankful for the generous initiative “A Christmas for Every-one” of Multi Mall Management which gave a Christmas food basket to around 1.111 poor families. This brought so much joy and comfort to the Christmas meal of these families, who daily live with so many difficulties. I want to express my deep gratitude on the behalf of these families to everyone who generously participated.”
Isabel Jonet – Entrajuda
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Support for the local community
367,6 thousand euros
“The “Um jornal, um sorriso” solidarity campaign, that O Ribatejo has been promoting for years, has always been able to count on the in-estimable support of W Shopping in Santarém. As usual, in 2010, we returned to W Shopping to begin our newspaper selling campaign in favour of a social institution in the city. The proceeds from our 2010 solidarity campaign were entirely given to the Paediatrics Service of Santarém’s Hospital.We owe a very special debt of gratitude to the Board of W Shopping in Santarém, for their repeated and committed willingness to support the “Um jornal, um sorriso” campaign, to which they contributed once more with the purchasing of newspapers and above all, with the space that they provided to us in the shopping centre together with their per-sonal commitment for this solidarity campaign.Thank you for all of this.”
Joaquim Duarte - Director of the O RIBATEJO newspaper
The proximity between the Local Community and the cen-
tres managed by MMM P is also shown in many other ac-
tivities carried out in 2010. These activities ranged from the
Exhibition of Projects from the Architect’s Core Group of Vi-
seu, which took place in Forum Viseu, to the collaboration
with local media outlets (O Ribatejo newspaper) in the dis-
semination of social causes in Santarém’s W Shopping. We
also received visits from elementary school students so that
they could see how a shopping centre works (in Armazéns
do Chiado), and through our “Eco Ponto da Amizade” we
collected thousands of items which were then given to in-
stitutions. In Forum Madeira the Eco Ponto da Amizade col-
lected and gave more than 960 toys, 1.400 clothing items,
420 shoes and 300 school materials.
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OperationalSustainability Plan
03.6 03.6.1
WHAT WE DID IN 2010
Below we present the commitments included in our 2010
sustainability plan, and the actions carried out in each one
of them. We initiated or finished 31 of the planned actions,
7 were eliminated after we ascertained that they made no
sense in the current context of the company and the other 7
were delayed to the next years for the same reason.
STRATEGIC SUSTAINABILITY AREAS
ACTIONS PLANNED FOR 2010 IMPLEMENTATION STATUS
SECURITY
Development of an indicator of the state of security in the centres
StartedWith the certification of the integrated management system (which includes certification to standard OSHAS 18001) it will be possible to achieve this objective.
Dialogue with the security forces to increase the police presence and coordination to bolster security in the centres
AchievedWe had meetings with the police in order to ensure internal coordination with them.
Communicate and reinforce the role of security for tenants
StartedOur approach regarding security was focused on implementing the certification of the integrated management system (which includes certification according to the OSHAS 18001 standard). This system will allow us to achieve this objective by the end of 2011.
Engagement with providers of security services and introduction of security clauses in the management of the centres
Removed from planThis objective was reassessed and we decided to remove it from the operational plan.
CLEANING,HYGIENE AND HEALTH
Diagnosis of shopping centres against BREEAM health and wellbeing practices – implementation of improvements
AchievedWe conducted a global assessment of the BREEAM health and wellbeing practices.
Define the hygiene, health and safety policy
StartedWe analysed the market to find a company to support us in the implementation of the integrated management system (which includes certification to standard OSHAS 18001) and we began the implementation.
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STRATEGICSUSTAINABILITY AREAS
ACTIONS PLANNED FOR 2010 IMPLEMENTATION STATUS
CLEANING,HYGIENE AND HEALTH
(cont.)
Standardize the hygiene, health and safety practices of the centres
To be implemented in 2011The beginning of the implementation of the OSHAS 18001 system in the shopping centres will enables us to standardize practices, and therefore this objective will be reached next year.
Require service providers to undergo human rights assessments and training (including child, forced and excessive labour)
To be implemented in 2012Due to the global economic context we decided to delay this action.
ENERGY
Create energy efficiency criteria for all buildings Changed/Started
After conducting energy audits we defined a set of measures for every centre to implement which according to the viability plans will enable us to reach the general stated objective of reducing energy consumption and increasing the efficiency of the centres.
Internal and external Benchmark and share good practices
Prepare financial viability plans of investments in energy efficiency
Enable all tenants to monitor and know their energy consumption
AchievedThrough the energy audits, carried out as part of the energy certification process, we were able to know the consumption of the tenants and indentify potential improvements to be made.
TRANSPORTATION
Draw up guidelines for the preparation of “Green Travel Plans” for each centre
AchievedWe conducted a study about Green Travel Plans
Define which shopping centres have priority and the objectives for the implementation of the “Green Travel Plans”
AchievedThe following shopping centres were defined as having priority for the implementation of the Green Travel Plans:• Almada Forum • Forum Coimbra• Espaço Guimarães
Compilation of good internal and external practices to provide to the shopping centres
AchievedWe conducted a study about the Green Travel Plans which include good external practices.
Draw up “Green Travel Plans” for the shopping centres identified as priorities, including medium and long term actions
To be implemented in 2011We were not able to initiate the development of the Green Travel Plans of the centres that will be pilot-projects.
Reduce car emissions in the shopping centres and surrounding areas
Achieved, was not part of the planIn Forum Sintra (shopping centre that was renovated in 2010) we installed parking support systems, which will reduce car emissions in the parking lot. We will implement this measure in future renovations and new assets.
WATER
Identify opportunities for improvement through Benchmarking against BREEAM best practices
AchievedWe carried out a general evaluation of the BREEAM practices regarding water.
Report water consumption by tenantsAchievedThe tenants’ water consumption is being reported in the 2010 Sustainability Report (this document).
Share good practices between centresAchievedWe created a document to share good practices between centres.
Prepare financial viability plans for investments in water management
To be implemented 2011This will be done case by case for each shopping centre.
WASTEIdentify opportunities for improvement through Benchmarking against BREEAM practices
AchievedWe conducted a global evaluation of the BREEAM practices regarding waste.
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STRATEGICSUSTAINABILITY AREAS
ACTIONS PLANNED FOR 2010 IMPLEMENTATION STATUS
WASTE(cont.)
Initiate (and continue with) plans for innovation in waste recovery
AchievedIn 2009 we started an innovate project in Forum Viseu with the objective of recovering waste, however this project was not continued in 2010, because it was not viable anymore
Campaigns to change behaviour regarding the separation of waste in the common areas
To be achieved in 2012Through the environmental management systems we will develop awareness campaigns and spread information which will ensure that we reach this goal.
FOOD SAFETY AND HYGIENE
IN THE CENTRE
Involvement with tenants to reduce the waste produced from packaging, products and services sold
AchievedThrough the tenants’ surveys we were able to gauge their satisfaction concerning the issue of hygiene and food safety.
Incorporate this issue into the quality management system in shopping centres
StartedWe analysed the market to find a company to support us in the implementation of the integrated management system (which includes certification to standard ISO 9001). This system will enable us to achieve the objective.
QUALITY OF SERVICESAND PRODUCTS
Formulate the shopping centre quality policy
StartedWe analysed the market to find a company to support us in the implementation of the integrated management system (which includes certification to standard ISO 9001). This system will enable us to achieve the objective.
Identify the scope of the shopping centre quality management system
AchievedThe scope of the implementation of the integrated management system (which includes Quality) is the activity of shopping centre management (this system will be implemented in every centre).
Standardize and monitor existing quality management performance indicators
StartedThe implementation of the integrated system (which includes ISO 9001 certification) in the shopping centres will enable us to standardize and monitor the defined quality indicators. The implementation of this system began in 2010.
RESPONSIBLE CONSUMPTION
Consult anchor tenants to gauge their willingness to sign a charter of principles
Removed from planWe reformulated our approach to the issue of responsible consumption, and decided that we would develop of a more generic charter of principles, which would then be distributed to tenants and service providers.
Involvement of tenants and survey of good practices (in the context of training at the Business School)
Charter of principles for responsible consumption and quality of products and services
Create a charter of principles to distribute to tenants and service provides together with the sustainability report
AchievedWe created a charter of principles which will be distributed to tenants and service providers.
Involvement of tenants and survey of good practices (in the context of training at the Business School)
Removed from planDue to the global economic context the operation of the Business School and the training plan were limited during 2010, therefore this objective was removed from the plan.
COOPERATIONWITH LOCAL
ORGANIZATIONS
Replication and adaptation of the overall philanthropy approach to each shopping centre Started
We implemented the multi-stakeholder group 2 pilot-project (MSG2) in Forum Algarve. After this, we decided to do the same in all of the shopping centres in 2011.Construct initiatives that deliver the
organization’s overall approach
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ACTIONS PLANNED FOR 2010 IMPLEMENTATION STATUS
SOCIAL RESPONSIBILITY
Replication and adaptation of the overall philanthropy approach to each shopping centre
StartedThe decision to implement the MSG2 in all of the shopping centres shows that the same approach is being used in every centre, according to the model tested in Forum Algarve.
Construct initiatives that deliver the organization’s overall approach
AchievedWe conduct various community support initiatives in every centre which substantiate the philanthropy policy. More information about these initiatives can be found in chapter 03.5 Valuing the Community.
LOCALCOMMERCE
Develop marketing campaigns to promote local products in the shopping centres (anchor and city centre shopping centres)
Removed from planThe creation of an integrated project to support local commerce was removed due to the global economic context.
Standardize criteria for the identification and recording of local community tenants
AchievedWe are counting the number of tenants from the local community in every centre. There is a procedure to do this.
Standardize criteria for the identification and recording of local community entrepreneurs
AchievedWe are counting the number of entrepreneurs from the local community in every centre. There is a procedure to do this.
LOCALEMPLOYABILITY
Creation of a follow-up system for tenants’ employees and employment exchange applicants
To be implemented in 2011In 2010, we did not have the right conditions to be able to measure the performance of the centres’ employee exchange programs.
Standardize and monitor the effectiveness of employment exchanges
Stimulate the employment exchange program
Standardize and monitor the performance indicators
Evaluate the suitability of job centre courses for the training requirements of a shopping centre
Removed from planIt is not viable to carry out his action with the job centres.
Look for partners that can provide training
Removed from planDue to the global economic context we will not be providing training to tenants, and therefore it is no longer necessary to look for partners.
PROMOTIONOF INNOVATION
Stimulation of an ideas marketplace with the first ideas competition – launch of the first competition
Achieved The integrated management system (includes quality) which we began to implement in 2010 will enable us to systematize and manage good practices, even though it is different from a content “library”.
Creation, via the ideas marketplace, of a forum for the sharing of good practices between shopping centres. Begin the implementation of the winning ideas
Create a content “library” of the management practices of each shopping centre
AchievedThe integrated management system (includes quality) which we began to implement in 2010 will enable us to systematize and manage good practices, even though it is different from a content “library”.
CAREERDEVELOPMENT
Monitoring of promotions and career progression in MMM P (compilation of promotions history in MMM P)
To be implemented in 2012Due to the global social and economic context this objective was not achieved.
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ACTIONS PLANNED FOR 2010 IMPLEMENTATION STATUS
ETHICSAND COMPLIANCE
Organize training for employees in human rights and other risks associated with the business
AchievedTraining in human rights was provided. See chapter 03.4 Valuing people.
Conduct the first organizational climate survey
To be implemented in 2011The survey was not conducted, even though it had already been made. We are committed to do this 2011.
TRAINING
Share experiences and partnerships with other European Business Schools
Removed from planDue to the global economic context the operation of the Business School was limited during 2010, and therefore this objective does not make sense anymore.
Identify possible case studies of shopping centre management
We did not find any relevant case studies for publication.
Identify partners for the development of case studies of shopping centre management
AchievedWe created a procedure to identify partners for the elaboration and publication of case studies regarding sustainable shopping centre management.
03.6.2
WHAT WE WANT TO DO IN 2011
STRATEGICSUSTAINABILITY AREAS
OBJECTIVES FOR 2012 ACTIONS IN 2011
SECURITY
Reduce tenants’ and customers’ complaints about security
Create security Objectives (risk 0)
Reduce robberies and theftsThere are no actions planned for 2011 in this area, but there are for 2012.
Increase the perception of security There are no actions planned for 2011 in this area, but there are for 2012.
Incorporate into a quality management system
We expect this objective to be reached in 2011, because we are implementing the integrated management system (Environment, Quality and Security).
CLEANING,HYGIENE AND HEALTH
Implement the OSHAS 18001 management system
Behavioural campaign with local community organizations to promote health, cleanliness, hygiene and/or wellbeing.
Bring shopping centre performance up to the level of BREEAM health and wellbeing practices
Standardize tactics between shopping centres on hygiene, health and safety at the centres (carried over from 2010).
ENERGY
Bring shopping centre performance up to the level of BREEAM energy practices
Corporate behavioural campaign in all of the shopping centres regarding energy dependence, emissions and climate change.
Achieve level C or higher in the energy certification of the shopping centres
Elaborate a record of energy consumption by shopping centre and segment tenants by their consumption – The energy audits allowed us to know the consumption of the tenants and identify improvements to be made. This ensures that part of this objective will be already reached in 2010.
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STRATEGICSUSTAINABILITY AREAS
OBJECTIVES FOR 2012 ACTIONS IN 2011
ENERGY(cont.)
Encourage the reduction of energy consumption in the shopping centres
Even though this objective was achieved in 2010 we will continue to implement management measures, though the environmental management systems of the centres, which encourage further reductions in energy consumption.
TRANSPORTATION
Increase the accessibility of the shopping centres and favour the positioning of centres close to cities
Behavioural campaigns with visitors and tenants’ employees.
Reduce the environmental impact of journeys to the centres
There are no actions planned for 2011 in this area, but there are for 2012.
Reduce CO2 emissions from vehicles in
the shopping centre and surrounding areas
Even though this objective was achieved in 2010 we will continue to implement management measures, through the Environmental management systems, to further reduce CO
2
emissions.
Encourage travel by less polluting means of transport
Create the “Green Travel Plans” of the shopping centres with medium and long term actions (carried over from 2010).
WATER
Reduce the water consumption of the shopping centres
Create a record of water consumption by shopping centre and segment tenants by their consumption – We achieved part of this objective in 2010 through the monitoring of the tenants’ consumption.
Bring shopping centre performance up to the level of BREEAM water practices
Behavioural campaign with visitors (identify the shopping centres with the most knowledgeable population).
Ensure the quality of the water consumed by visitors and operators in the shopping centres
Prepare financial viability plans for investments in water management (carried over from 2010).
WASTE
Bring shopping centre performance up to the level of BREEAM waste management practices
Even though this objective was achieved in 2010 we will continue to implement management measures, through the environmental management systems of the centres, to encourage the continuous improvement of our waste management performance.Innovate in waste recovery
FOOD SAFETYAND HYGIENE
IN THE CENTRE
Reduce food safety and hygiene risks in the shopping centres
Support and monitor the tenants during and after the periodic ASAE inspections (report and count these inspections by shopping centre).
Monitor the tenants’ HACCPs.
QUALITY OF SERVICESAND PRODUCTS
Standardize the quality management parameters of the shopping centres
Build a system of incentives for tenants and their employees, correlated with customer satisfaction and complaints.
RESPONSIBLE CONSUMPTION
Influence tenants by introducing the concept of responsible consumption
Benchmark about responsible consumption and new consumption tendencies relating to the sustainability topic.
COOPERATIONWITH LOCAL
ORGANIZATIONS
Align the shopping centre’s commitments on sustainability and social responsibility with the interests of local community organizations
Selection of the representatives and formal invitations for the constitution of the multistakeholder groups of the shopping centres.
Encourage social responsibility, citizenship and sustainability practices in local community organizations
Formalization and operation of the multistakeholder groups at the management level of the centres.
SOCIALRESPONSIBILITY
Build an overall approach to community engagement
There are no actions planned for 2011 in this area, but there are for 2012.
Develop action plans for shopping centres that are adapted to the reality of each local community
We have reached this objective in 2010, however we will keep implementing measures to promote our relationship with the local communities, as needed
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STRATEGICSUSTAINABILITY AREAS
OBJECTIVES FOR 2012 ACTIONS IN 2011
LOCALCOMMERCE
Reinforce the image of the centre as a promoter of commerce and as a business that attracts visitors to cities
Create a plan for involvement with tenants from the local community (find good practices and entrepreneur success stories, typical products, etc.)
Reinforce the protection and commercial boundaries of the cities where we operate
Our current procedures are already counting the local tenants and entrepreneurs. Even so, we will keep making improvements to standardize and hasten the calculus methods and the information compilation tools in the various shopping centres.
Shorten the distance between local commerce and shopping centre
We have reached this objective in 2010, however we will keep implementing measures to strengthen our connection with local commerce, as needed
LOCALEMPLOYABILITY
Promote the employability and occupational training of the local communities who work in the shopping centres
Study social responsibility and philanthropy support for the employees of the centre (children’s day-care, etc.).
Creation of a follow-up system for tenants’ employees and employment exchange applicants (carried over from 2010).
Standardize and monitor the efficacy of the employee exchange programs (carried over from 2010).
Position the shopping centre as a benchmark in the community for training and commercial skills
Stimulation of the employee exchange programs (carried over from 2010).
Standardization and monitoring of performance indicators (carried over from 2010).
PROMOTIONOF INNOVATION
Foster a culture of innovation that ensures critical changes in the organization
There are no actions planned for 2011 in this area, but there are for 2012.
Foster interdepartmental, bottom up cooperation
There are no actions planned for 2011 in this area, but there are for 2012.
Create a system for the sharing of good practices between shopping centres
We achieved this objective in 2010.
CAREERDEVELOPMENT
Formalize career development practices and monitor the performance indicators
Analysis of the implementation project of the 360 evaluation processes.
Position MMM P as a national and international benchmark employer
There are no actions planned for 2011 in this area, but there are for 2012.
ETHICSAND COMPLIANCE
Implement the Business Principles and the Code of Conduct
There are no actions planned for 2011 in this area, but there are for 2012.
Survey and assess the organizational climate
Conduct the first organizational climate survey (carried over from 2010).
TRAINING
Stimulate internal training and knowledge sharing in the organization
Create case studies of MMM P’s shopping centre management.Promote knowledge of shopping centre management and export this knowledge with the aim of influencing external markets with MMM P’s management practices
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MMM P has defined its approach to sustainability based on
the AA1000 APS principles (2008). The strategic sustainability
areas and the implementation of the sustainability plan follow
these principles. The principles of Inclusivity, Materiality and
Responsiveness are also reflected in this 3rd sustainability
report, which was verified according to the AA1000 AS
(2008) standard.
Below we report our compliance with the AA1000 APS (2008)
principles in 2010, to which this report relates, referring the
reader where necessary to the chapter of the report where
we disclose in greater detail how we are complying with the
principles of this standard.
The AA1000 APS principles which guided this management
and reporting exercise are: Inclusivity, the principle that
advocates that an organization should be inclusive, by
encouraging stakeholder participation in the development
and implementation of a strategic and responsible answer to
sustainability; Materiality – the organization should identify
the material issues and their relevance to itself and to its
stakeholders; and Responsiveness – the organization should
respond to the issues raised by stakeholders and which
affect its performance, by means of decisions, management
actions, communication with stakeholders and performance.
INCLUSIVITY
In the first sustainability report we described how we took
in to account the concerns and expectations of our key
stakeholders in addressing the sustainability of the company.
In reality, the strategic sustainability areas and the targets
set for 2012 are the result of our vision of how sustainability
can contribute to creating long term value for the shopping
centres we manage. Naturally, this vision results from our
extensive know-how of the business, but also from the
consultation exercise we undertook with stakeholders.
In 2009, we decided that this consultation with the
stakeholders would take place in the beginning of each
strategy cycle. Therefore, we intend to consult with the
stakeholders again at the end of 2012, which is when the
1st first sustainability cycle ends. This will serve to assess
the need to include new business areas in our sustainability
strategy, and to know how the stakeholders evaluate our
environmental and social performance between 2009 and
2012 and their opinion regarding the efficacy and fruition
of the measures implemented through the Operational
Sustainability Plan.
The stakeholders may or may not participate in the
decision making process regarding the improvement of the
sustainability performance. From another perspective, we
will analyse the effectiveness of the current communications
and involvement mechanisms to identify opportunities for
Implementationof the sustainability strategy according toAA1000 APS Standardand GRI Principles
03.7
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improvement, so that the results of the first sustainability
cycle are taken into account when making the second cycle.
While consultation at a more strategic level is carried out at
longer time intervals, we possess mechanisms for ongoing
engagement with our owners, tenants, business partners,
visitors, suppliers, employees and the local community.
In chapter 2, the reader can learn how we managed the
participation of the stakeholders.
The Governance Model that we are implementing is
composed of the necessary human resources to fulfil the
operational plan which formalizes all the required aspects for
the inclusion of the stakeholders. The technical and financial
means are ensured by the organizational structure of the
company.
Moreover, the Governance Model provides for management
advisory bodies consisting of external stakeholders, both at
the corporate level and at each of our shopping centres. These
bodies give material form to the principle of Inclusivity. We
describe our governance model in chapter 2 of this report.
According to this model, in 2010 we also implemented
the MSG2 – CALL Group through a pilot-project in Forum
Algarve. The purpose of this group is to strengthen our
relationship with the community and identify its needs.
Through this group we implemented a system, based on
an ideas contest in order to determine in a less subjective
manner which community projects are more relevant and
the needs of the community entities.
In 2011 we will implement the same model of this project in
the rest of our centres.
We think the implementation of the integrated management
system will help in the response to any problems or conflicts
that may arise internally (Environment, Quality and Security)
due to the fact that the different management practices
will enable us to more efficiently control and monitor the
relevant aspects of our activity.
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MATERIALITY
The process of identifying and ranking relevant aspects was
implemented in MMM P in 2008 to determine the correct
approach to the sustainable management of the company,
i.e., to understand the value that the management of ethical,
environmental and social aspects could add to MMM P.
This process was described in detail in Chapter 2 of the
company’s first sustainability report. As described there, it
resulted from a series of analyses which took into account
the following: the needs and concerns of stakeholders, social
norms, the financial impact, and the sustainability practices
implemented by the company’s main peers. Conducted
by the company’s management team with the assistance
of a specialist sustainability consultancy company, the
process of understanding the material issues was essential
to the creation of the company’s sustainability plan, which
establishes the objectives and actions for each of the material
issues. The strategic areas and the listing of the associated
strategic and relevant issues are on page 21 of this document.
The aforementioned governance model allows us to not only
bring this plan into fruition, but also to constantly update it
with the opinions and concerns of the stakeholders, via their
external departments.
In 2010 as in 2009, so as to verify the validity of the plan’s
material issues in the light of the context of the company
and its social, environmental and economic aspects, we
conducted a review of the materiality analysis, from which
we concluded that, in general terms there was no need to
include new actions areas in our sustainability commitment.
This analysis consisted of:
• Benchmark analysis (which confirmed that the relevant
issues for the sector remained the same)
• Diagnosis of legal compliance (we analysed the applicable
law and regulations which had been published or updated
during 2010 and concluded that there were no changes
that would affect the sustainability strategy). - Each
centre identified the main issues for each stakeholder,
according to the perception they transmitted.
• Gathering of relevant issues from the results of the
satisfaction surveys of owners, visitors and tenants (in the
centres where these surveys were carried out).
At the end of each strategy cycle we intend to conduct a
detailed materiality analysis, so that we can use it a basis
for the definition of the strategy of the next cycle and the
concrete measures to be implemented in the Operational
Plan. Each year, including during the cycle we will reflect
internally on whether it is necessary to make unplanned
changes to the plan in order to ensure its effectiveness.
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RESPONSIVENESS
We define our conformity with this principle through our
response, in the form of the decisions we make, to the main
concerns and expectations of the key stakeholders.
Throughout this report we have presented the actions we are
implementing to improve our performance in the strategic
sustainability areas. As we explained in the beginning of the
Inclusivity principle, these strategic areas are aligned with
the concerns of our main stakeholders. The management
indicators and the personal testimony that the reader can
find over the length of this report, in addition to the table
where we present our level of achievement of the objectives
defined in the previous year show our conformity to this
principle. The priorities of the objectives and actions in the
sustainability plan are defined, discussed and reformulated as
needed, according to the context and viability. The priority
of the actions is determined based on their importance and
maturity and on the available resources.
Regarding this point, in 2010 after a proposal of the
sustainability working groups the Sustainability Committee
decided to delay or remove some of the actions from the
Operational Sustainability Plan. This proposal was backed
by the specialist sustainability consultancy company which
has been supporting MMM P in the implementation of its
strategy.
Some of the actions were removed because they were
obsolete considering the state of the company, for example
regarding the operation of the Business School and the
evaluation of job centre courses. Also, due to the difficult
economic situation that the sector faces we thought it was
too soon to carry out responsible consumption actions, and
therefore we changed our approach in this area, in order to
be able to implement measures.
The actions that were delayed have mostly to do with the
current economic context of the company and the sector.
In this context we cannot afford the investment/cost that
was planned to carry out these actions, specifically the
ones regarding training and audits to suppliers and service
providers, among others.
We also think that some of the material issues need more
intensive work since they have different maturity and
efficiency levels. In the next year, we think it will be important
to monitor the results of the implementation of the integrated
management system, as this will be a fundamental tool to
stimulate some of the less developed areas, namely the
health and security areas. Even so, we think that the fact that
we have added some indicators regarding these issues to this
report shows our intention to one day treat them in a more
systematic manner.
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Responsiveness is also related to the communication of our
decisions to stakeholders. In this sense, this sustainability re-
port is one of the sustainability communication documents.
The annual publication of the sustainability report enables
stakeholders to understand how we ensure their inclusion
and how we respond to their concerns and expectations.
It also enables them to see the impact that the sustainable
management approach has on the economic, environmen-
tal and social performance of our centres. MMM P’s Sustain-
ability Report is available at: http://www.multi-mallmanage-
ment.pt/sustentabilidade
The mechanisms we use to communicate with the various
stakeholder groups can be seen on page 29.
GLOBAL REPORTING INITIATIVE PRINCIPLES
The 2010 sustainability report of MMM P – Gestão de
empreendimentos Imobiliários, SA, was prepared according
to the G3 guidelines, the third generation Global Reporting
Initiative (GRI) guidelines. This is the third report published
by the company at annual reporting intervals.
The principles governing the content of the report with ref-
erence to G3 conform to the principles of Materiality, Stake-
holder Inclusivity, Context of sustainability and Complete-
ness. The principles of materiality and inclusivity follow the
methodology described earlier.
As regards to the principle of context of sustainability, we
frame our results and performance indicators within an
evolving perspective of the organization throughout this
report. Our difference from other market players, both in
terms of the maturity of the sustainability project and the
type of strategy developed, prevents us from comparing
results with other players in the sector.
In this report, we cover, in terms of relevant qualitative and
quantitative information, all the shopping centres in full
operation in 2010, in accordance with the material issues
identified earlier. The Braga Retail Centre data (since it only
operated for 2 months in 2010) was not included in the
indicators. The Forum Sintra data (being renovated during
2010) was only taken into account in the employee indicators.
The data of MMM P’s head offices is not being considered
for the environmental indicators, since we determined that
it was not relevant when compared with the consumption of
the shopping centres being analysed in this report.
Every time we compare the indicators with 2009, we only
take into account the same comparable universe of shopping
centres. This means that in sections of this report the 2008
and 2009 data is different from what was published in
previous reports, because they consider different universes.
Whenever this happens, we mention it in a footnote.
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To ensure the quality of the report we observed the following principles:
BALANCE
We observe this principle by reporting the performance
indicators that affect our business according to the materiality
analysis performed, including opinions and testimonials
from our stakeholders, whether positive or otherwise. We
believe that transparency helps us refine our management
and performance and that the identification of less positive
aspects contributes to our continuous improvement.
The information reported takes as its source the company’s
management information systems and reflects their varying
degrees of sophistication.
Our compliance with the balance principle is also shown
in the level of achievement of the objectives to which we
committed ourselves in the plan.
COMPARABILITY AND TIMELINESS
We made this report with a view to obtaining comparable
performance indicators in different time horizons. Every time
we are unable to make a time comparison, we mention it in
the methodological notes.
CLARITY, ACCURACY AND RELIABILITY
Most of the information contained in this report is verified
by an external organization. The verification process focused
on the information concerning adherence to the AA1000
APS (2008) principles and on the “strategy and profile”
items defined in the GRI guidelines, as well as on a range
of performance indicators defined in those guidelines and
selected by us as the most relevant on the basis of the
following criteria:
• a minimum of 20, with at least one from each of the
indicator protocols (the minimum requirement for level
B+);
• that they correspond to structural aspects (e.g. EC1)
and/or reflect performance on the issues identified as
most relevant (highlighted as such in the GRI table). Our
financial data is also audited in the context of our annual
report and accounts. It should be noted that the reported
quantitative data was obtained from information provided
by our management systems. The reliability of this data
is corroborated by external verification. The remaining
quantitative data which was not subject to any form of
verification will be compared from period to period in
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order to validate the methodology used for obtaining
the indicators. Whenever there is a correction in the
collection of this data, this change will be mentioned
clearly in the following periods, as is the case in this
document.
Generally, the indicators are calculated according to the GRI
methodologies. Every time this rule is not applied, the motive
is explained either in the text or in the methodological notes
added to this document.
REPORT BOUNDARY
This sustainability report observes the GRI boundaries, by reporting the management approaches, practices and results monitored by it and which influence the sustainability report. We do not have any joint-ven-tures and the shopping centres that we manage and which are relevant for reporting purposes are described in chapter 01. We have been gradu-ally extending our reporting basis to include the quantitative impacts of our stakeholders, which reflect the overall performance of the centres. One of the examples of this is the reporting of the water consumption of the tenants, which is something we did for the first time in this report.
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ANNEX Main Issues and Concernsidentified by the Managementof each Centre in 2010
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MAIN ISSUES AND CONCERNS
Foru
m A
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o
Arm
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o C
hia
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Foru
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lgar
ve
Alm
ada
Foru
m
Parq
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Mo
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ego
Foru
m M
on
tijo
W S
ho
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m M
adei
ra
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m C
oim
bra
Foru
m V
iseu
Esp
aço
Gu
imar
ães
TO
TAL
Tenants
Decrease in sales/economic crisis 1 1 1 3
Shop performance (sales) 1 1 1 1 4
Overall performance of the centre/competition
1 1 1 1 1 5
Traffic in the centre 1 1 2
Stimulation of the centre /marketing/partnerships
1 1 1 1 4
Cleaning (overall and toilets) 1 1 1 1 4
Operational difficulties/procedures 1 1
Condition of the centre’s floor 1 1
Working time 1 1
Lack of smoking area 1 1
Paid parking lot 1 1
Paid parking lot for employees 1 1
New business opportunities 1 1
Security 1 1
Owners
Overall performance of the centre 1 1 1 1 1 5
Occupancy rate 1 1 1 1 1 5
Debt collection 1 1 1 1 1 5
Value of the asset 1 1 1 3
Commercial strategy 1 1 1 3
Centre renovation 1 1 2
Energy certification 1 1
Tenant mix 1 1
Suppliers
Service quality 1 1 1 1 1 1 1 7
Contract renegotiation/Economic crisis 1 1 1 3
Negotiation of proposals 1 1 1 3
Payment deadlines 1 1 2
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MAIN ISSUES AND CONCERNS
Foru
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Arm
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o C
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Foru
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Alm
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Foru
m
Parq
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Mo
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Foru
m M
on
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W S
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Foru
m M
adei
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Foru
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bra
Foru
m V
iseu
Esp
aço
Gu
imar
ães
TO
TAL
Training 1 1 2
Loyalty 1 1
Absenteeism 1 1
Environment and Security 1 1
Compliance with procedures 1 1
Visitors
Shop mix 1 1 1 1 4
Cleaning 1 1 1 3
Decrease in purchasing power/Prices 1 1 2
Comfort in the centre 1 1 2
Parking lot access 1 1 2
Security 1 1
Employee exchange program 1 1
Parking lot ventilation 1 1
Old internet website 1 1
LPG parking lot spaces being used by other vehicles
1 1
Available seats in the restaurant area 1 1
Lack of smoking area 1 1
Uncovered parking lot 1 1
Parking lot security 1 1
Paid parking lot 1 1
Local community
Organize joint events/initiatives 1 1 1 1 1 1 6
Support 1 1 1 1 1 5
Promotion of community organizations/concession of space
1 1 1 1 1 1 6
Environment in the community 1 1 2
Operational management during events 1 1
Partners
Economic crisis 1 1 2
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MAIN ISSUES AND CONCERNS
Foru
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Foru
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Alm
ada
Foru
m
Parq
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Mo
nd
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Foru
m M
on
tijo
W S
ho
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ing
Foru
m M
adei
ra
Foru
m C
oim
bra
Foru
m V
iseu
Esp
aço
Gu
imar
ães
TO
TAL
Sponsorships 1 1
Creation of new business opportunities in various areas
1 1
Service quality 1 1 2
Suitability of the service to the needs 1 1
Employees
Sustainability and development perspectives of the company
1 1 1 1 1 1 6
Personal development/Training/ Progression
1 1 1 3
Improvement of the service and visitor satisfaction
1 1 1 3
Achievement of objectives 1 1
Adherence to implemented procedures, namely in the security, cleaning and maintenance areas.
1 1
Wages 1 1
Focus on teamwork 1 1
Optimization of available resources 1 1
Increase in workload 1 1
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Methodological Notes
NOTES TO THE QUANTITATIVE INDICATORS
The Multi Mall Management Portugal financial data present-
ed here is based on the Annual Report of Accounts which is
previously audited.
The data on the human resources of Multi Mall Management
Portugal were obtained from the company’s management.
The social and environmental data was put together for each
shopping centre, with information from MMM P’s informa-
tion management systems.
EXCLUSIONS FROM THE SCOPE OF THE REPORT
The exclusions from the scope of reporting are identified
throughout the report, and in these methodological notes.
All the shopping centres in operation and under the man-
agement of MMM P are included in the total quantitative data
of this report. The exception to this methodology is Forum
Sintra, which is undergoing renovation, and Braga Retail
Centre since it only operated for two full months in 2010,
which means that the data was not mature enough to be re-
ported. As a result, the data from these centres could not be
compared with the data from the remaining centres which
were in operation for the whole of 2010. Even so, data from
Forum Sintra was included in the employee indicators.
Compared with 2009 the shopping centres Forum Barreiro
and Forum Castelo Branco have been excluded from the
scope of this report because they are no longer under the
management of MMM P.
Throughout the report, we present results called compara-
ble data, which exclude Espaço Guimarães. This centre is
excluded so that we can make a more accurate annual com-
parison of the results, due to the fact that we do not have the
full data for 2009 and 2010, because this centre was inaugu-
rated in the middle of 2009.
EXPLANATION OF THE PERFORMANCE INDICATOR
“EXTRAORDINARY MONTHLY PROFITABILITY OF THE
ASSETS UNDER MANAGEMENT”
Our objective is to generate a return on the assets above the
expected rate and as agreed with each owner. The monthly
profitability of the building is agreed with the owner and is
reflected in rents. When calculating this indicator, we only
took into account the additional profitability above what was
agreed in advance with each owner.
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Calculation of the Extraordinary Profitability of a Shopping
Centre:
Annual extraordinary profitability of a shopping centre = (ef-
fective annual return/agreed annual return) - 1 / 12 Months
Monthly Extraordinary Profitability of the shopping centres:
This figure corresponds to the sum of the extraordinary prof-
itability of each centre weighted by the size of each centre.
The size is measured in square metres of gross leasable area
(GLA).
EXPLANATION OF THE INDICATOR
“VISITOR SATISFACTION SURVEY”
This indicator reflects the satisfaction of visitors in the pe-
riodic surveys we conduct in each shopping centre. The
frequency of these surveys is subject to the approval of the
individual owners of the centres we manage, which means
that it varies.
The visitor satisfaction ranking is provided by the latest peri-
odic survey (IPS) conducted in each shopping centre by spe-
cialist companies up to a year prior to the year of reporting.
In 2010, the shopping centres which conducted this survey
and therefore contributed to the calculation of this indica-
tor were: Forum Algarve, Forum Almada, Forum Aveiro, Ar-
mazéns do Chiado, Forum Coimbra, Forum Madeira, Forum
Montijo and Forum Viseu. The survey was not carried out
in Parque Mondego, W Shopping and Espaço Guimarães be-
cause it was not approved by the owner.
This indicator corresponds to approximately 87% of the visi-
tors to the shopping centres covered in this report. The glo-
bal satisfaction results were determined from the average of
the results of the above centres, after harmonising their rat-
ing scales.
In 2010 the calculation regarding security included the pa-
rameters Security in the Centre and Security in the Parking
Lot. The calculation of the satisfaction index regarding clean-
liness and hygiene included the parameters: Cleanliness and
Hygiene in the bathrooms and Cleanliness and Hygiene in
the Restaurants.
EXPLANATION OF THE INDICATOR “TENANT SATISFACTION SURVEY”
The indicator reflects the satisfaction of the tenants in the
periodic surveys we conduct in each shopping centre. These
surveys are conducted annually, but they must be previous-
ly approved by the individual owners of the centres under
management, which means that their frequency varies.
The shopping centres that conducted the annual tenants’
survey and thus contributed to the calculation of this indi-
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cator in 2010 were: Forum Algarve, Forum Almada, Forum
Aveiro, Armazéns do Chiado, Forum Coimbra, Forum Madei-
ra, Parque Mondego, Forum Montijo and Espaço Guimarães.
These shopping centres include approximately 89% of the
tenants of all the shopping centres within the scope of the
report. W Shopping and Forum Viseu were the only centres
to not participate in this study, because of operational rea-
sons.
The global satisfaction results were determined from the av-
erage of the results of the above centres, after harmonizing
their rating scales.
INDICATORS SO8 AND PR9
In the calculation of the SO8 and PR9 indicators we took into
account a significant fine when the figure is above 5.000€.
EXPLANATION OF THE DIRECTAND INDIRECT JOBS INDICATOR
The direct jobs indicator reflects the number of people em-
ployed in the centres, including MMM P employees working
in the centres and tenants’ and service providers’ employees.
Indirect jobs include people who, although not employed by
the management or tenants, provide services to tenants and
spend the majority of their time working in the centre.
These figures were arrived at by asking tenants for the num-
bers of own employees and those of service providers.
Every time it was not possible to gather the information of
all the shops, we made an estimate based on the number of
shops in the centre.
EXPLANATION OF THE CALCULATIONOF THE EMPLOYEE TURNOVER RATE (LA2)
The turnover rate in each of the age bands was calculated
according to the following formula:
Turnover rate of group n = Number of employees leaving
from group n / (number of employees in group n + number
of employees leaving group n).
Group n can be either an age band or gender.
CALCULATION OF THE LA7 INDICATOR
Absenteeism rate calculation Absenteeism rate = absenteeism (hours) / total number of
working hours.
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Calculation of working hours:We made an estimate based on the assumption that a po-
tential employee would work 252 days per year, 8 hours day,
and have 25 days of vacation. The same formula is applied
for every MMM P employee.
Calculation of hours worked:We removed the hours of absenteeism, identified through
medical certificates or other evidence, from the working
time to get the actual amount of hours worked.
CALCULATION OF INDICATOR LA10
In the calculation of the training per employee we only took
into account the employees that actually received training
and not the total number of employees in December 31st
2010.
CALCULATION OF INDICATOR LA13
The data from 2009 was reformulated because the employ-
ees at MMM P were being incorrectly distributed by occu-
pational category. As a result, the data from 2009 and 2010
can now be compared. Below we present the reformulated
2009 data. The 2010 data can be found in chapter 03.4 valu-
ing people.
AGE GROUP AND OCCUPATIONAL CATEGORY 2009
18 to 34 years 35 to 44 years 45 to 54 years
Female Male Female Male Female Male
Director 0 0 0 0 0 2
Regional Manager 0 0 1 5 0 0
Centre Manager 4 4 6 7 0 2
Department manager 5 2 4 6 0 0
Assistant 28 11 6 6 4 1
Total by age and gender 37 17 17 24 4 5
Total by age 54 41 9
CALCULATION OF INDICATOR LA14
The female-male salary ratio was calculated based on the
average wage of men and women in each of the occupa-
tional categories.
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PAPER CONSUMED
The total volume of paper consumed includes the paper
consumed in the offices of the shopping centres and in MMM
P’s head offices. Contrary to our practice in all other envi-
ronmental indicators, we report the paper consumed in our
offices by the volume consumed and in terms of our efforts
in managing this impact. Accordingly, the reporting of this
impact in our offices makes it relevant to present their level
of consumption.
The data relating to MMM P’s offices is excluded from the
other environmental indicators.
WATER CONSUMPTION
Water consumption does not include the consumption of
MMM P’s head offices, because it is irrelevant when com-
pared with the consumption of the centres.
In Parque Mondego the reported water consumption cor-
responds only to the water used by the centre management
since we do not know what the consumption of the public
toilets is due to the lack of bills..
ENERGY CONSUMPTION
Energy consumption does not include the consumption of
MMM P’s head offices, which is insignificant when compared
with the consumption of the centres.
This year we present the diesel fuel consumption of the cen-
tres’ emergency generators for the first time.
The amounts shown in the indicator do not account for
the energy losses due to the distribution and transportation
of energy in the network, and for the losses caused by the
limitations in the efficiency of the processes that generate
the electricity we consume, since we were unable to obtain
updated values which include all these components from a
public company.
DISTRIBUTION OF INDIRECT ENERGY
BY PRIMARY ENERGY SOURCE
This indicator was calculated based on the energy produc-
tion mix we were given by the Energy Services Regulatory
Authority (ERSE, 2011). The utility retailer EDP Serviço Uni-
versal was used as the reference for the overall consumption
of electricity at all the centres under management, and the
parcels associated with each primary energy source were
weighted by the total electricity consumed.
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CO2 EMISSIONS
In 2008 we did not take into account the emissions caused
by car travel because we did not have any available data. As
a result, the 2008 results only include the emissions from fuel
consumption, electricity and air travel. In 2009 and 2010 we
included the emissions caused by car, which were calculated
from the amount of km travelled.
The 2010 data also takes into account the new emission
factors published by the ERSE in 2011.
We used the following data and information sources to
calculate the CO2 emissions:
PROPANE GAS
PCI (Kcal/m3)PCI (Kcal/Kg)
20.56011.070
BP
Emission Factor CO2
(Kg CO2 /GJ)
73,98Portuguese Environment Agency
1 Kcal = 4.186 JPortuguese Environment Agency
NATURAL GAS
PCI (GJ/m3) 0,03846Portuguese Environment Agency
Emission Factor CO2
(Kg CO2 /GJ)
56,10Portuguese Environment Agency
ELECTRICITY
Emission Factor CO2
(Kg CO2 /kWh)
0,341ERSE (used in 2008 and 2009)
0,230 ERSE (used in 2010)
1 kWh=3.600.000 J=3,6x10-3GJInternational Energy Agency
AIR TRAVEL
Travel < 1500Km (g CO
2 /p Km)
338CE Solutions (2003); IPCC (1999)
Travel 1500Km - 6000Km(g CO
2 /p Km)
217CE Solutions (2003); IPCC (1999)
Travel > 6000Km (g CO
2 /p Km)
197CE Solutions (2003); IPCC (1999)
1 Mile = 1,609 Km
REFRIGERATION
R22 (Kg CO2 /Kg) 1500
Portuguese Environment Agency
R407C (Kg CO2 /Kg) 1370
Portuguese Environment Agency
R134A (Kg CO2 /Kg) 1300
Portuguese Environment Agency
R410 A (Kg CO2 /Kg) 1370
Portuguese Environment Agency
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GRI Table
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Economic management approach
Objectives and performance 88-94 3.6.1 What we did in 2010
Policies 19-20 02. Our sustainability strategy
Additional relevant information31-35 03.1 Economic performance
44-45 03.2.1 Partnership with the owner
Environmental management approach
Objectives and performance 88-90, 92-93 3.6.1 What we did in 2010
Policies19-20 02. Our sustainability strategy
57, 60 03.3 Valuing the Environment
Organizational responsibility 56-57 03.3 Valuing the Environment
Training and awareness 58-59 03.3 Valuing the Environment
Monitoring and follow up56-60 03.3 Valuing the Environment
89-98 3.6.1 What we did in 2010
Labour practices management approach
Objectives and performance 88, 91-92, 94 3.6.1 What we did in 2010
Policies19-20 02. Our sustainability strategy
77 03.4 Valuing people
Organizational responsibility 70 03.4 Valuing people
Training – Head of the Business School manage-mentHuman resources administrative activities (ex: health and safety, employment, labour relations - Finance Department
Training and awareness 73-74 03.4 Valuing people
Monitoring and follow up70 03.4 Valuing people
88, 91-92 3.6.1 What we did in 2010
Human rights management approach
Objectives and performance 88, 91-92, 94 3.6.1 What we did in 2010 The Business Principles document specifically covers respect for the Declaration of Human Rights and the laws and other rules of the society in which we operate. This document has been distributed internally and is the subject of internal training. It also has been circulated to the various stakeholders.
To date we have not had any formal process spe-cifically to evaluate this aspect. However, respect for human rights is intrinsic to our organisation. In our group, violation of human rights by people involved in our day-to-day business will result in legal and professional consequences.
Policies 19-20, 77 02. Our sustainability strategy
Organizational responsibility 70 03.4 Valuing people
Training and awareness 74 03.4 Valuing people
Monitoring and follow up 70 03.4 Valuing people
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Social management approach
Objectives and performance 90-94 3.6.1 What we did in 2010
Policies19-20 02. Our sustainability strategy
79-81 03.5 Valuing the community
Organizational responsibility 78 03.5 Valuing the community
The shopping centres and their hierarchical struc-tures are responsible for managing community aspects in a decentralized way. The other GRI social aspects, such as corruption and compliance are managed by the Legal Affairs Department.
Training and awareness 78-79 03.5 Valuing the community
Monitoring and follow up
79-81 03.5 Valuing the community
90-92 3.6.1 What we did in 2010
03.5 Valuing the community For the aspects re-lating to ethics and conduct, apart from the for-mal relationships between employees and the company governed by legal contracts, we do not have formal practices for monitoring and follow up.
Product responsibility management approach
Objectives and performance 88-94 3.6.1 What we did 2010
Policies
19-20, 77 02. Our sustainability strategy
46 03.2.2 Engagement with visitors
50 03.2.3 Partnership with tenants
Organizational responsibility 53-5403.2 Valuing our visitors, partners and customers
At centre management level, ultimate responsibil-ity resides with the centre manager, who reports to his regional manager. The regional manager reports regularly to the Board of the company, in terms of performance in the product manage-ment aspects described in this report. The Board of the company has ultimate operational respon-sibility for the shopping centres.
Training and awareness 73-74 03.4 Valuing people
Monitoring and follow up36-55
03.2 Valuing our visitors, partners and customers
88-92 3.6.1 What we did in 2010
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1.Strategy and analysis
Indicator
1.1 Statement from the most senior decision-maker (e.g. CEO, chair or equivalent senior position) about the relevance of sustainability to the organisation and its strategy.
5-7 Verified
1.2 Description of the key impacts, risks and opportunities associated with the organisation’s business
22-23 Verified
2. Organizational profile
2.1 Name of the reporting organisation 130 Verified
2.2 Main brands, products and/or services 11-13 Verified
2.3 Operational structure of the organisation, including main divisions, operating companies, subsidiaries and joint ventures
14-17 There are no joint ventures in MMM P. Verified
2.4 Location of the organisation’s headquarters 130 Verified
2.5 Number of countries where the organisation operates, and names of countries with major operations that are specifically relevant to the sustainability issues covered in the report
10-11 Verified
2.6 Nature of ownership and legal form 130 Verified
2.7 Markets served (including geographic breakdown, sectors served and types of customers/beneficiaries)
9-13 Verified
2.8 Scale of the reporting organisation, including number of employees, net sales (for private sector organisations) or net revenues (for public sector organisations) and quantity of products or services provided
8, 10-13, 30, 32-33, 35, 71
Verified
2.9 Significant changes during the reporting period regarding size, organisational structure or ownership
14, 107-112 Verified
2.10 Awards received in the reporting period 13 Verified
3. Report parameters
3.1 Reporting period (e.g. fiscal/calendar year) for information provided in the report
5 This report relates to 2010 Verified
3.2 Date of the most recent previous report (if any) 100 The most recent previous report relates to 2009. Verified
3.3 Reporting cycle (annual, biennial, etc) 100 The reporting cycle of MMM P is annual. Verified
3.4 Contact point for questions regarding the report or its content, including e-mail address and website
130 Verified
3.5 Process for defining the report content, including: determining materiality, prioritising topics within the report, and identifying stakeholders the organisation expects to use the report
19-29, 100-102, 104-106
Verified
3.6 Boundary of the report (e.g. countries or regions, facilities, products or services, divisions, leased facilities, joint ventures or subsidiaries, and any other limitations of specific scope)
10-11, 102, 107 Verified
3.7 State any specific limitations on the scope or boundary of the report
102, 107 Verified
3.8 Basis for reporting on joint ventures, subsidiaries, leased facilities, outsourced operations and any other situations that may significantly affect comparability from period to period or between organisations
10-11, 102, 107 Verified
3.9 Data measurement techniques and the bases of calculations, including assumptions and techniques underlying estimates applied to the compilation of the indicators and other information in the report
107-112 Verified
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3.10 Explanation of the effect of any re-statements ofinformation provided in earlier reports and the reasonsfor such re-statements (e.g. mergers/acquisitions, changeof base years/periods, nature of business, measurementmethods)
107-112 Verified
3.11 Significant changes from previous reporting periodsin the scope, boundary or measurement methods appliedin the report
102, 107-112 Verified
3.12 Table identifying the location of the Standard Disclosures in the report
107-112 Verified
3.13 Policy and current practice with regard to seeking external assurance for the report. If not included in the assurance report accompanying the sustainability report, explain the scope and basis of any external assurance provided. Also explain the relationship between the reporting organisation and the assurance provider(s)
126-128 Verified
4. Governance, Commitments and Engagement
4.1 Governance structure of the organisation, includingcommittees under the highest governance body responsible for specific tasks such as setting strategy or organisational oversight
14-17, 25-27 Verified
4.2 Indicate whether the Chair of the highest body isalso an executive director (and if so, their function withinthe organisation’s management and the reasons for thisarrangement)
16Every member of the Board has responsibilities in other management areas. Composition as a unitary Board structure, as permitted in legislation, is a decision made by the company during its founding.
Verified
4.3 For organisations that have a unitary Board structure,state the number of members of the highest governancebody that are independent and/or non-executivemembers
16 Verified
4.4 Mechanisms for shareholders and employees toprovide recommendations or direction to the highestgovernance body
25-27 Verified
4.5 Linkage between compensation for members ofthe highest governance body, senior managers andexecutives (including departure arrangements) and theorganisation’s performance (including social and environmental performance)
75 Verified
4.6 Process in place for the highest governance body toensure conflicts of interest are avoided 70
Compliance with the business principles and the MMM BV Code ofConduct subscribed to in 2009 ensure that the conduct of our employ-ees is based on ethical and responsible behaviour.Compliance with these documents is controlled by the horizontal struc-ture of the organisation and by the constant proximity and management relationship of the various hierarchical levels, which prevents conflicts of interest across the organisation.Implementation of the governance model began in 2008. This model is responsible for advising on and presenting all proposals for investment in sustainability to the Board. The members of its bodies were selected on the basis of their responsibilities and roles in the management of the social, environmental and economic aspects. This criterion for se-lection and determination of qualifications and expertise will continue to prevail in the organisation due to high degree of horizontality and multidisciplinarity required by the governance model of MMM Portugal.Accordingly, the organisation has not seen a need to establish a formal process for the constitution or appointment of managers withexpertise in discussion of and decision-making on economic, social and environmental aspects
Verified
4.7 Process for determining the qualifications andexpertise of the members of the highest governancebody for guiding the organisation’s strategy on economic,environmental and social topics
25 Verified
4.8 Internally developed statements of mission or values,codes of conduct and principles relevant to economic,environmental and social performance and the status oftheir implementation
10, 20, 70 Verified
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4.9 Procedures of the highest governance body for overseeing the organisation’s identification and management of economic, environmental and social performance, including relevant risks and opportunities, and adherence or compliance with internationally agreed standards, codes of conduct and principles
14-17, 25-27 Verified
4.10 Processes for evaluating the highest governancebody’s own performance with respect to economic,environmental and social performance
75 Verified
4.11 Explanation of whether and how the precautionaryapproach or principle is addressed by the organisation
19-29 Verified
4.12 Externally developed economic, environmental andsocial charters, principles or other initiatives to which theorganisation subscribes or endorses
16 Verified
4.13 Significant participation in associations (such asindustry associations) and/or national/international advocacy organisations in which the organisation: haspositions in governance bodies; participates in projects orcommittees; provides substantive funding beyond routinemembership dues; or views membership as strategic
16
MMM Portugal does not directly belong to any trade association.However, via Multi Development Portugal, a company of the MultiCorporation Group, we are represented on the management bodies of the Portuguese Association of Shopping Centres.
Verified
4.14 List of stakeholder groups engaged by the organisation
29 Verified
4.15 Basis for identification and selection of stakeholderswith whom to engage
24, 28The Sustainability Report 2008 explains in detail the process of stake-holder identification and consultation included in the development of the Sustainability Strategy and Plan.
Verified
4.16 Approaches to stakeholder engagement, includingfrequency of engagement by type and stakeholder group
29 Verified
4.17 Key topics and concerns that have been raisedthrough stakeholder engagement, and how the organisation has responded to those key topics and concerns, including through its reporting
22-23, 104-106 Verified
Economic performance indicators
Aspect – Economic performance
EC1. Direct economic value generated and distributed,including revenues, operating costs, employee compensation, donations and other community investments, retained earnings, and payments to capital providers and governments (core)
33-34Verified and
complete
EC2. Financial implications and other risks and opportunities for the organisation’s activities due to climate change (core)
-The company does not have management mechanisms that enable it to report this indicator.
-
EC3. Coverage of the organisation’s defined benefit planobligations (core)
-The company does not have a pension plan or benefits which involve present and future financial coverage.
Verified and complete
EC4. Significant financial assistance received from government (core)
-The company has not received significant financial assistance from the Government or any other State body.
Verified and complete
Aspect – Market presence
EC5. Ratio of standard entry level wage compared to local minimum wage at significant locations of operation (core)
72 -
EC6. Policy, practices and proportion of spending onlocally-based suppliers at significant locations of operation (core)
-The company does not have procedures for hiring or recording local suppliers.
-
EC7. Procedures for local hiring and proportion of senior management hired from the local community at significant locations of operation (core)
-We do not have defined procedures for local hiring, but the overwhelming majority of employees and managers of the company are Portuguese nationals.
-
Aspect – Indirect economic impacts
EC8. Development and impact of infrastructure investments and services provided primarily for public benefit through commercial, in-kind or pro bono engagement (core)
82-86Verified and
complete
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EC9. Description and analysis of significant indirect economic impacts, including the extent of impacts (additional)
35, 46, 50, 81
There are other indirect socio-economic impacts resulting from the scope of our activities. However, since the reporting methodologies have been in place for insufficient time and are insufficiently sophisticated, it is not possible to present these indicators.
Verified and partial
Environmental performance indicators
Aspect – Raw materials
EN1. Materials used, by weight and volume (core) 69 -
EN2. Percentage of materials used that are recycled inputmaterials (core)
69 -
Aspect – Energy
EN3. Direct energy consumption by primary energysource (core)
63-65Verified and
complete
EN4. Indirect energy consumption by primary energy source (core)
65Verified and
complete
EN5. Energy saved due to conservation and efficiencyimprovements (additional)
65-66Verified and
complete
EN6. Initiatives to provide energy-efficient or renewableenergy-based products and services, and reductionsin energy requirements as a result of these initiatives (additional)
65-66 -
EN7. Initiatives to reduce indirect energy consumptionand reductions achieved (additional)
65-66 -
Aspect - Water
EN8. Total water withdrawal by source (core) 62Verified and
complete
EN9. Water sources significantly affected by withdrawal ofwater (additional)
Not relevant -
EN10. Percentage and total volume of water recycled andreused (additional)
62 Water recycling is not performed in our facilities.Verified and
complete
Aspect - Biodiversity
EN11. Location and size of land owned, leased or managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas (core)
Not relevantAs the manager of shopping centres, MMM Portugal has no influence over the location of buildings.
-
EN12. Description of significant impacts of activities,products and services on biodiversity in protected areasand areas of high biodiversity value (core)
Not relevantAs the manager of shopping centres, MMM Portugal has no influence over the location of buildings.
-
EN13. Habitats protected or restored (additional) - No programmes have been implemented with the specific objective of protecting biodiversity. However, many of the actions and initiatives implemented to reduce other impacts, including the management of water, energy and waste, have the effect of minimising impacts on bio-diversity.
-
EN14. Strategies, current actions and future plans formanaging impacts on biodiversity (additional)
- -
EN15. Number of IUCN Red List species and nationalconservation list species with habitats in areas affected byoperations, by level of extinction risk (additional)
-As the manager of shopping centres, MMM Portugal has no influence over the location of buildings.
-
Aspect - Emissions, Effluents and Waste
EN16. Total greenhouse gas emissions by weight (core) 66-67 -
EN17. Other relevant indirect greenhouse gas emissionsby weight (core)
66-67 -
EN18. Initiatives to reduce greenhouse gas emissions andreductions achieved (additional)
65-66Energy efficiency initiatives result in reductions in greenhouse gas emissions.
-
EN19. Emissions of ozone-depleting substances by weight (core)
Not applicable -
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EN20. NOx, SOx and other significant atmospheric emissions by type and weight (core)
Not relevantNo other relevant sources of atmospheric emissions of NOx, SOx or other gases were identified.
-
EN21. Total water discharge by quality and destination (core)
Not relevantAll discharges of water are made to the municipal sewer, the appropriate destination for the type of waste water produced at our facilities. We consider that its environmental impact is therefore minimised.
-
EN22. Total weight of waste by type and disposal method(core)
67-69Verified and
complete
EN23. Total number and volume of significant spills (core) Not relevantThe spills that occur are minimal, and this indicator is therefore regarded as not relevant.
-
EN24. Weight of transported, imported, exported or treated waste deemed hazardous under the terms of the Basel Convention Annexes I, II, III and VIII, and percentage of transported waste shipped internationally (additional)
Not applicableWe do not carry out any hazardous waste handling operations. This type of waste is passed to operators certified to handle it.
-
EN25. Identity, size, protected status and biodiversity value of water bodies and related habitats significantly affected by the reporting organisation’s discharges of water and run-off (additional)
Not applicableAll discharges of water are made to the municipal sewer, the appropriate destination for the type of waste water produced at our facilities. We consider that its environmental impact is therefore minimised.
-
Aspect – Products and Services
EN26. Initiatives to mitigate environmental impacts of products and services, and extent of impact mitigation (core)
56-69 -
EN27. Percentage of products sold and their packaging materials that are reclaimed by category (core)
Not applicable -
Aspect - Conformity
EN28. Monetary value of significant fines and totalnumber of monetary sanctions for non-compliance withenvironmental laws and regulations (core)
-MMM Portugal has not been subject to any fines or penalties for non-compliance with environmental laws or regulations.
Verified and complete
Aspect - Transport
EN29. Significant environmental impacts of transporting products and other goods and materials used in the organisation’s operations, and transporting members of the workforce (additional)
66-67 -
Aspect - Overall
EN30. Total environmental protection expenditures and investments by type (additional)
- -
Labour Practices and Decent Work Performance Indicators
Aspect - Employment
LA1. Total workforce by employment type, employment contract and region (core)
71-72Verified and
complete
LA2. Total number and rate of employee turnover by age group, gender and region (core)
71-72Verified and
complete
LA3. Benefits provided to full-time employees that are not provided to temporary or part-time employees (additional)
73 -
Aspect – Labour/Management relations
LA4. Percentage of employees covered by collective bargaining agreements (core)
73
LA5. Minimum notice period(s) regarding significant operational changes, including whether it is specified in collective bargaining agreements
73 -
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Aspect – Occupational health and safety
LA6. Percentage of total workforce represented in formal joint management-worker health and safety committees that help monitor and advise on occupational health and safety programmes. (additional)
73 -
LA7. Rates of injury, occupational diseases, lost days, and absenteeism, and total number of work-related fatalities by region (core)
73Verified and
complete
LA8. Education, training, counselling, prevention and risk-control programmes in place to assist workforce members, their families or community members regarding serious diseases
73The company does not have education, training, counselling or preven-tion programmes which fall within the scope of this indicator.
-
LA9. Health and safety topics covered in formal agreements with trade unions (additional)
73 The company does not have any formal agreements with trade unions. -
Aspect – Training and education
LA10. Average hours of training per year per employee by employee category (core)
73-74Verified and
complete
LA11. Programmes for skills management and lifelong learning that support the continued employability of employees and assist them in managing career endings (additional)
74-75 -
LA12. Percentage of employees receiving regular performance and career development reviews (additional)
75Verified and
complete
Aspect – Diversity and equal opportunity
LA13. Composition of governance bodies and breakdown of employees per category according to gender, age group, minority group membership, and other indicators of diversity (core)
72Verified and
complete
LA14. Ratio of basic salary of men to women by employee category (core)
72Verified and
complete
Social Performance Indicators – Human Rights
Aspect – Investment and Procurement practices
HR1. Percentage and total number of significant investment agreements that include human rights clauses or that have undergone human rights screening (core)
Not applicable -
HR2. Percentage of significant suppliers and contractors that have undergone screening on human rights and actions taken (core)
-
In 2008 we approved our business principles, which incorporate the Declaration of Human Rights as the basis for our behaviour and busi-ness practices.In 2009 and 2010 these principles were widely distributed by our em-ployees (in training) and suppliers/service providers (through the Part-ner Guide). Our objective is to ensure that the suppliers comply with this guide, enabling us to guard against violations of these principles in our value chain. In MMM P we still do not have a formal evaluation system of suppli-ers and contractors, but our Sustainability Plan includes the training of suppliers and service providers on Human rights, in order to facilitate a future evaluation approach.
Verified and complete
HR3. Total hours of employee training on policies and procedures concerning aspects of human rights that are relevant to operations, including the percentage of employees trained. (additional)
74It was provided trainning to the center’s management teams concerning Business Principles and the Partners and Tenants Guides, which included Human Rights issues.
-
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Aspect – Non Discrimination
HR4. Total number of incidents of discrimination and actions taken (core)
- No incidents of discrimination were recorded in 2010.Verified and
complete
Aspect – Freedom of Association and Collective Bargaining
HR5. Operations identified in which the right to exercise freedom of association and collective bargaining may be at significant risk, and actions taken to support these rights (core)
73
In MMM Portugal there is no impediment to freedom of association and collective bargaining.We comply with and respect the law and the fundamental values of society, which are incorporated in our business principles.
Verified and complete
Aspect – Child Labour
HR6. Operations identified as having significant risk for incidents of child labour, and measures taken to contribute to the elimination of child labour (core)
-
There is no risk of the occurrence of child labour in MMM Portugal.This risk is not expected to arise in our value chain. However, we plan to communicate with our key stakeholders about sustainability issues, including the analysis and communication of this risk.
-
Aspect – Forced and Compulsory Labour
HR7. Casos em que exista um risco significativo de ocorrência de trabalho forçado ou escravo, e medidas que contribuam para a sua eliminação. (essencial)
-
There is no risk of the occurrence of forced or compulsory labour inMMM Portugal. This risk is not expected to arise in our value chain.However, we plan to communicate with our key stakeholders about sustainability issues, including the analysis and communication of this risk.
-
Aspect – Security Practices
HR8. Percentagem do pessoal de segurança submetido a formação nas políticas ou procedimentos da organização, relativos aos direitos humanos, e que são relevantes para as operações. (complementar)
-
The securityservices are provided by external companies subcontracted by MMM. Although it is planned the communication of our principles to our main stakeholders, being the Human Rights issues and theme to consider in this communications. It is also important to refer the good practices of our security service providers concerning the certifications they have, which also include some aspects on human rights.
-
Aspect – Indigenous Rights
HR9. Total number of incidents of violations involving rights of indigenous people and actions taken (additional)
-There is no risk of violation of the rights of indigenous people in Portugal.
-
Social Performance Indicators - Society
Aspect - Community
SO1. Nature, scope and effectiveness of any programmes and practices that assess and manage the impacts of operations on communities, including entering, operating and exiting (core)
-
Through its Sustainability Policy and Operational Plan MMM has mechanisms that enable it to monitor some of the environmental, social and economic impacts on the community. The publication of the Philanthropy Policy in 2009 and 2010 together with the implementation of the MSG2 as a pilot-project in Forum Algarve, allowed us to identify the needs of the various local community entities. This will ensure that the centres support the surrounding community in a more focused manner, which will bring about positive effects. After the success of the MSG2 in Forum Algarve, in which after a tender we selected and gave significant support to an initiative developed by a local organization regarding the transportation of newborn babies, MMM P decided to implement it in the remaining centres in order to maximize our responsible conduct in all of the geographic locations where we operate. In addition to these new mechanisms, we have environmental management systems in every centre and are beginning the implementation of an integrated management system (AQS) which we think will cover, at the centre management level, a great range of issues related to quality, environment and safety that impact the surrounding communities. Before the beginning of every project we are also careful to establish the necessary contacts with the local entities and authorities, in order to identify potential problems that may arise and evaluate improvement opportunities that can benefit the community and ease the operation of our centres.
Verified and complete
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Aspect - Corruption
SO2. Percentage and total number of business units analysed for risks relating to corruption (core)
-The company does not have mechanisms enabling it to report on this indicator.
-
SO3. Percentage of employees trained in the organisa-tion’s anti-corruption policies and procedures (core)
-
The company does not possess anti-corruption policies and practices.However, our business principles and the MMM BV code of conduct to which we subscribed in 2009 enable us to minimise the risk of such cases occurring.
-
SO4. Actions taken in response to incidents of corruption -The company did not record any cases of corruption in 2010 and has not recorded any throughout its trading history.
Verified and complete
Aspect – Public Policy
SO5. Participation in public policy development and lob-bying (core)
- -
SO6. Total value of financial and in-kind contributions to political parties, politicians and related institutions by country (additional)
-MMM Portugal does not make financial contributions to political parties or related institutions.
-
Aspect – Anti-Competitive Behaviour
SO7. Total number of legal actions for anti-competitive behaviour, anti-trust and monopoly practices and their outcomes (additional)
-We have not been the subject of any legal actions for anti-competitive behaviour, anti-trust or monopoly practices.
-
Aspect - Conformity
SO8. Monetary value of significant fines and total number of non-monetary sanctions for non-compliance with laws and regulations (core)
- There were no significant fines in 2010.Verified and
complete
Social Performance Indicators – Product Responsibility
Aspect – Customer health and safety
PR1. Life cycle stages in which health and safety impacts of products and services are assessed for improvement, and percentage of significant products and services categories subject to such procedures (core)
54-55Considering that MMM has no influence in the performance of the centres in the remaining stages, there are only measures to evaluate, monitor and reduce impacts in the operation stage.
Verified and complete
PR2. Total number of incidents of non-compliance with regulations and voluntary codes concerning health and safety impacts of products and services, by type of outcomes (additional)
-
There were no incidents of this kind.The implementation of the integrated management system (that includes the WSH area according to the OSHAS 18001 standard), which was started in 2010 will enable us to give a more substantiated answer to this indicator in the next reports.
-
Aspect – Product and Service Labelling
PR3. Type of product and service information required by procedures, and percentage of significant products and services subject to such information requirements (core)
- -
PR4. Total number of incidents of non-compliance with regulations and voluntary codes concerning product and service information and labelling, by type of outcomes (additional)
-
The company has not reliable methods of reporting this indicator in an aggregated way. However there is a complaints, suggestions and incidents registry for users of the shopping centers. According to this registry there were no incidents, of this kind.
-
PR5. Practices relating to customer satisfaction, including results of surveys measuring customer satisfaction (ad-ditional)
46-47Verified and
complete
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Aspect – Marketing Communications
PR6. Programmes for adherence to laws, standards, and voluntary codes relating to marketing communications, including advertising, promotion and sponsorship (core)
Not relevant
The company does not adhere to any voluntary codes concerning marketing communications including advertising, promotion or sponsorship, with the result that the indicators concerned are not relevant to the current management of the organisation.
-
PR7. Total number of incidents of non-compliance with regulations and voluntary codes concerning marketing communications, including advertising, promotion and sponsorship, by type of outcomes (additional)
Not relevant -
Aspect – Customer Privacy
PR8. Total number of substantiated complaints regarding breaches of customer privacy and losses of customer data (additional)
-The company did not record any complaints concerning breaches of privacy arising from actions by the management of MMM Portugal.
Verified and complete
Aspect - Conformity
PR9. Monetary value of significant fines for noncompli-ance with laws and regulations concerning the provision and use of products and services
- There were no significant fines in 2010.Verified and
complete
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Assurance Statement
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Published byMulti Mall Management Portugal
ConsultancySustentare, Lda
DesignBeNext
Multi Mall ManagementGestão de Empreendimentos Imobiliários, SAAvenida Cáceres Monteiro, nº10 - 3º
Arquiparque II - Miraflores
1495-192 Algés, Portugal
For more information contact:João Ferreira da Cruz
T. +351 21 413 6000
F. +351 21 413 6024
www.multi-mallmanagement.pt
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