SUSTAINABLE DEVELOPMENT 4Strategy and organization 4.1 Strategy and organization 4.1.1 Issues and stakeholders Engage in constructive dialog with stakeholders Klépierre has long believed in the link between economic performance Klépierre is convinced that the value created through the management and social environmental excellence. In 2002, the Group began to of its shopping centers benefits all its stakeholders and that it will report non-financial data and information with its financial results. play a part in the sustainable development of regions across Europe. The shopping centers designed, owned and managed by the Group Since then, Klépierre has developed its corporate social responsibility serve as veritable catalysts for their urban environments. They help (CSR) in accordance with two principles: transparency and rooting in change and stimulate these areas. They are economic engines, places operations management. for sharing time, sources of jobs and financial flows. This positive The requirement of transparency is continually being toughened as impact is inextricably linked to meeting the expectations of all Group Klépierre’s property portfolio expands geographically. The Group thus stakeholders. made every effort to consistently monitor as rapidly as possible its Commercial real estate is a capital-intensive sector given the amount non-financial performance across the 16 European countries in which of investment needed to purchase or develop shopping centers. The it currently operates, and the information published provides identical contribution of shareholders and financial partners, and consideration data on all its operations and shopping centers. for their expectations, are therefore also fundamental to the Group’s The rooting in operations management serves as a guarantee of the growth. effectiveness of Klépierre’s CSR policy. Previously known as “Good In addition, Klépierre works with other players in the shopping center Choices,” this policy, which has been renamed “Act for Good® with sector. This cooperation helps to promote shared practices and raise Klépierre,” is one of four pillars of the Group’s operating strategy, along awareness of and add value to the Group’s businesses. with Let’s Play®, Clubstore®, and Retail First®. Finally, the people who make up Klépierre are the number one Group The content of Klépierre’s new CSR strategy is outlined below in resource for enacting its commitments. Driven by the HR management section 4.1.2. processes, Klépierre’s teams also enjoy, through Klépierre University, dedicated training programs to allow them to continually adapt to the changing environment and to anticipate new operational requirements. 164 KLÉPIERRE 2017 REGISTRATION DOCUMENT