Unibail-Rodamco-Westfield (URW) has released its latest Social Value Impact Reports for Westfield London and Westfield Stratford City, revealing a combined social value of £18,759,244 for 2023 (£9,802,952 and £8,956,292 respectively).
Partnering with the Social Value Portal, URW’s third annual report highlights substantial contributions to the economy, surrounding communities and the environment. Social value assesses the positive impacts of businesses – key highlights from the 2023 social value impact include:
- Job creation: Generating £5,731,605 at Westfield London and £5,157,714 at Westfield Stratford City.
- Work placements: Providing 143 weeks of work placements through the URW International Graduate Programme, paying above the Real Living Wage across both centres in 2023.
- Volunteering hours: Employees from URW’s supply chain partners dedicated 353 hours to volunteering with community partners at Westfield London in 2023, marking a +553% increase from 2022. At Westfield Stratford City, the increase was even more substantial, with 645 hours volunteered – a +195% rise from 2022.
- Charitable donations: Offering £502,195 worth of space and digital promotion to local community and charity groups at Westfield Stratford City, and £1,957,758 at Westfield London in 2023.
Since beginning its UK social value reporting in 2021, URW has generated over £60 million in social value, demonstrating its strong commitment to community and environmental initiatives.
Key contractor partners contributing to social value in their respective areas include Mitie, Ethos Farm, Grosvenor and OCS. Additionally, URW collaborates with local organisations around its centres to enhance social value efforts. These include Westfield London’s partnership with community organisation West Youth Zone in Hammersmith and Fulham, which creates opportunities and access to learning and activities for young people, and Westfield Stratford City’s partnership with Birkbeck University to support local residents in Newham with their studies.
Westfield Stratford City also contributes to a Community Fund that has already supported 60 local grassroots organisations. Recently, it announced another year of funding to assist an additional 20 organisations. URW recently marked the launch of the second year of the Culture Exchange, part of the Westfield East Bank Creative Futures Fund – a five-year, £10 million program that aims to foster inclusive social and economic value in East London. The event was honoured by the presence of HRH Princess Anne.
Alyson Hodkinson, Head of Sustainability UK, URW, says: “Creating shared value for our communities has always been a fundamental objective for URW and is central to our Better Places strategy. We are proud of this year’s Social Value results, which reflect our deep commitment to understanding and enhancing our impact. Each year, we strive to improve and elevate our reporting standards to fully capture the social value we deliver. We aim to be as ambitious as possible, working alongside our retail, community, environmental, and charity partners to achieve lasting impact for our communities and ensure mutual flourishing.”
Guy Battle, CEO and Founder, Social Value Portal, says: “The significant social value generated by Westfield London and Westfield Stratford City demonstrates the powerful impact that thoughtful, community-focused initiatives can have. By investing in local partnerships and sustainable practices, Unibail-Rodamco-Westfield sets a benchmark for how businesses can drive positive change and support community resilience. Their ongoing commitment to social value reporting is a testament to their dedication to creating thriving communities.”
URW’s commitment to reporting the social value generated in the communities around its centres forms part of its UK Community Resilience Programme. It is also aligned to URW’s global ‘Better Places’ strategy, which unlocks value-creation opportunities and supports the environmental transition of cities and the sustainable evolution of retail by driving positive economic and social impact through employment, training and social inclusion.
The 2023 Social Value Impact Reports for Westfield London and Westfield Stratford City are available for access at: https://www.westfield.com/united-kingdom/social-value-report