Klépierre, a Leader in Energy Efficiency

PRESS RELEASE

KLÉPIERRE, A LEADER IN ENERGY EFFICIENCY

Paris, September 7, 2022

Klépierre, the European leader in shopping malls, is continuing its energy efficiency drive, having already reduced the energy consumption of all its centers in Europe by more than 40% in 2021 compared with 2013. In France, the Group is on track to meet the government’s 10% reduction target by this winter.

KLÉPIERRE, ALREADY HIGHLY ENERGY EFFICIENT

Klépierre has been working to reduce the energy consumption of its shopping malls for more than a decade, achieving positive results every year. In 2017, it committed to accelerating its efforts, targeting a 40% reduction over five years compared with 2013. The Group reached this ambitious goal ahead of schedule: in 2021, Group shopping malls consumed on average 79 kWh/sq.m. in Europe and 70 kWh/sq.m. in France.¹ This positions Klépierre’s malls as the least energy-intensive in the industry in France, where average consumption per shopping center is 109 kWh/sq.m.²

This performance is the result of several measures implemented by the Group over the last few years, including:

• Setting annual energy reduction targets for each center;
• Building a centralized system to monitor energy consumption at all centers on a monthly basis;
• Making significant investments and innovating in new technologies to install more energy-efficient equipment, such as adiabatic cooling towers, destratification fans, solar control film and reflective paints;
• Installing energy management systems (EMSs) in most shopping malls to more efficiently control lighting as well as heating, ventilation and air conditioning equipment;
• Providing ongoing training to technical teams in best practices for building energy management, such as keeping doors closed, relamping, reducing power use outside of opening hours and installing motion detectors;
• Auditing and offering local assistance to comply with measures and achieve targets.

ADDITIONAL ENERGY EFFICIENCY MEASURES

In the shorter term, in line with plans announced by several governments in Europe, including France’s, all Klépierre’s shopping malls will implement various measures outlined below starting on October 15, 2022. In France, these will help Klépierre meet the target of reducing energy consumption by 10% by this winter versus the pre-Covid levels of winter 2019-2020.

Heating and air conditioning

Temperature settings

Mall heating and air conditioning systems will be set to keep central walkways at temperatures of:

• 17°C in winter;
• 26°C or 27°C in summer, or no more than 7°C below the outside temperature.

Timing

These heating and air conditioning systems will be turned on 1 hour after opening and turned off 1 hour before closing.

Air renewal

Mall air renewal will be optimized to minimize the need for heating and air conditioning:

• In winter, the frequency of air renewal will be adjusted, in compliance with air quality standards;
• In spring, fall and especially summer, malls will systematically use “free cooling” techniques, whereby cooler outside air substitutes for air conditioning.

Lighting

Low-energy lighting

While Klépierre’s shopping malls already have a high proportion of LEDs (over two-thirds of all lighting), the Group has pledged to fit 50 of the largest centers in its European portfolio entirely with these energy-efficient bulbs within two years. Starting this year, holiday decorations in all shopping malls will only use LEDs.

Light intensity

The light intensity of malls’ interior walkways and parking lots will be reduced by 30% on average and all emergency exits, delivery areas and technical premises will be fitted with detectors for lighting. These measures will be implemented in compliance with regulations and safety requirements.

Illuminated signs

Outdoor illuminated signs will be turned off when malls close for the day.

“We’ve now shown that we can make our shopping malls energy efficient. And starting this winter, we plan to do even more to meet the challenges ahead,” said Jean-Marc Jestin, Chairman of the Klépierre Executive Board.

CARBON NEUTRALITY BY 2030

Beyond energy efficiency, which remains an objective in its own right, Klépierre is committed to achieving carbon neutrality in its shopping malls by 2030. In 2021, mall greenhouse gas emissions had already fallen by 84% compared with 2013.³

To reach its target, the Group is ramping up its strategy to roll out on-site alternative energy production facilities, such as solar panels and geothermal energy equipment, as well as electric vehicle charging stations to support its customers’ transition to less carbon-intensive modes of transportation.

Thanks to this strategy and the results achieved so far, Klépierre has been named the world’s top shopping center owner for non-financial performance by GRESB, the sustainability benchmark for real estate, and is included in the CDP’s “A-List” of global leaders in the fight against climate change.

ABOUT KLÉPIERRE

Klépierre is the European leader in shopping malls, combining property development and asset management skills. The Company’s portfolio is valued at €20.6 billion at June 30, 2022, and comprises large shopping centers in more than 10 countries in Continental Europe which together host hundreds of millions of visitors per year. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager. Klépierre is a French REIT (SIIC) listed on Euronext Paris and is included in the CAC Next 20 and EPRA Euro Zone Indexes. It is also included in ethical indexes, such as Euronext CAC 40 ESG, MSCI Europe ESG Leaders, FTSE4Good, Euronext Vigeo Europe 120, and features in CDP’s “A-list”. These distinctions underscore the Group’s commitment to a proactive sustainable development policy and its global leadership in the fight against climate change.

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¹ For common areas and stores that are not energy self-sufficient.

2 Source: Observatoire de l’Immobilier Durable, Baromètre de la performance énergétique et environnementale des bâtiments, 2021.

3 Greenhouse gas emissions intensity measured in kgCO₂e/sq.m. (Scopes 1 & 2, market-based method).

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