Westfield shopping centres generate £18.8m in social value

Unibail-Rodamco-Westfield’s UK shopping centres produced a combined social value of £18.8m in 2023, according to the owner’s latest annual social value impact reports. The findings show URW’s two London centres, Westfield London and Westfield Stratford City, have generated more than £60m in social value since it began reporting the figures in 2021. Westfield London made a £9.8m positive impact during the year, while Westfield Stratford City’s social value was worth nearly £9m in the same period. The total is slightly down on the value created in 2022, during which both shopping centres grew their combined impact to £22.7m.  URW, which partners with consultancy Social Value Portal on its annual report, generated just over £5.7m of social value at Westfield London and nearly £5.2m at Westfield Stratford City through job creation during the year. The mall owner provided 143 weeks of work placements through the URW International Graduate Programme, paying above the real living wage across both centres. 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, 645 hours were volunteered, rising by 195% from 2022. In terms of charitable donations, nearly £2m of space and digital promotion was provided to local community and charity groups at Westfield London in 2023, with an equivalent of £502,195 at Westfield Stratford City. Mitie, Ethos Farm, Grosvenor and OCS were cited as contractor partners that played a vital role in creating a positive impact at the centres. Additionally, URW collaborates with local organisations around its centres to enhance social value efforts. Those include Westfield London’s partnership with community organisation West Youth Zone in Hammersmith and Fulham, and Westfield Stratford City’s partnership with Birkbeck University to support residents in Newham with their studies. Westfield Stratford City also contributes to a community fund that has supported 60 local grassroots organisations. It recently announced another year of funding to assist an additional 20 organisations. Alyson Hodkinson, head of sustainability UK at URW, said: “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, chief executive and founder of Social Value Portal, said: “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.” Photo by Ben Cawthra/Shutterstock