Parque Arauco stands out for its quest for transparency and promotion of good practices within the company. Some actions that strengthen this commitment:
- We have an internal Ethics Committee and an irregularities reporting hotline available for all our stakeholders called EthicsPoint.
- We worked to build an internal framework and guidelines regarding fair competition issues. To that end and with the support of specialized external antitrust consultants, we have drafted The Antitrust Manual.
- Our Code of Business Conduct is a tool that specifies the basic, non-negotiable behavior, whether acting individually or collectively, that is mandatory for everyone in the Company and its subsidiaries.
Sustainability milestones during 2016 in corporate governance
- We worked with an expert consultant to assess our corporate governance practices.
- We redefine our values, purpose, mission and long-term strategic objectives.
- We strengthened the team responsible for identifying and managing internal risks.
- We started a project to strengthen top-down monitoring, identification and assessment of risk factors.
- In 2017, we will continue to apply to the Great Place to Work ranking as well as create opportunities to consolidate our culture and working environment.
- We were nominated in all categories of the ALAS20 2017 awards in Chile: Leader in Corporate Governance, Leader in Investor Relations, Leader in Sustainability, General Manager Sustainability Leader, Company Board Director Sustainability Leader.
- We are the first Latin American real estate company to enter the Dow Jones Sustainability Index (DJSI) emerging markets and Chile, in recognition of our Best Practices in Sustainability.
WE WORK TO BUILD SUSTAINABLE RELATIONSHIPS WITH OUR STAKEHOLDERS. WE CARRY OUT CONCRETE ACTIONS THAT GIVE CONSISTENCY TO THIS COMMITMENT AND ADD VALUE TO CUSTOMERS, COMMUNITIES, EMPLOYEES, SUPPLIERS AND SHAREHOLDERS
- We worked with Fundación Casa de la Paz, a community relations specialist, to establish and design a formal community relations policy and strategy addressing shopping center construction and operations.
- We defined and approved a policy on corporate donations.
- We continued allowing social organizations to use our space to share their work and impact with our customers and visitors. In 2016, more than 28 foundations and social organizations made use of these spaces.
- We continued offering internships for persons with cognitive disability. Twelve young people took part in the initiative in 2016—double the number of 2015 participants. We moved toward a deal with Fundación Coanil to implement the program in other shopping centers and cities in Chile in 2017.
- We organized more than 20 traveling small business fairs at our shopping centers to promote local products and emerging entrepreneurs from Chile, Peru and Colombia.
More than 340 small-scale entrepreneurs benefited this year.
- We continued carrying out our agenda of activities to raise customer and visitor awareness of inclusion.
- Adhering to the principles of the Global Compact since December 2015, in Chile we participate in the spaces and efforts proposed by the network.
We develop projects following standards and practices of sustainable construction in Chile, Peru and Colombia.
- We built Peru’s InOutlet Premium Lurín in accordance with international standards on sustainable construction.
- We are the first company to earn LEED certification for the design and construction of a shopping center in Chile.
- We worked with Poch, a consulting firm specializing in environmental issues, to conduct an environmental survey of our main shopping centers in order to establish a baseline and performance indicators for Chile, Peru and Colombia.
- We developed an environmental management model, which will be implemented during 2017.
- We applied sustainable construction criteria to our projects, resulting in developments like Parque La Colina and InOutlet Premium Lurín in Peru.
- We began a study to identify and prioritize the risks climate change may pose to our main shopping centers and projects.
- We have undertaken initiatives aimed at using and managing energy and water consumption, emissions and waste management efficiently.
- We are member of the Chile Green Building Council.
We have identified and prioritized three action areas and new work areas in order to organize and progressively strengthen our sustainable development.
We have worked to understand our stakeholders’ concerns and expectations as well as their connection to relevant aspects of our business. With this information, we established material, priority issues on which to focus management and reporting efforts in the short, medium and long term.