ESG (Environmental, Social & Governance)
Carbon footprint
For the continuous improvement process of environmental performance and to strengthen the decarbonization strategy, Castellana Properties annually verifies its greenhouse gas (GHG) emissions in accordance with ISO 14064, ensuring the veracity of data and calculations.
Once verification is passed, its Carbon Footprint is submitted to the Ministry for Ecological Transition and Demographic Challenge (MITERD), for which it is mandatory to include a greenhouse gas (GHG) emission reduction plan.
Renewable energies
Castellana Properties and Sunbird Solar, a company specialized in solar and energy storage solutions for shopping centers, established a joint venture in FY24 to deploy photovoltaic installations across the company’s retail assets.
During this financial year, total installed capacity reached 4 MWp across eight assets in Spain and Portugal, more than doubling the 1.6 MWp recorded at the end of FY25. Self-consumption increased by 73.6% on an LfL basis and now covers 10% of total common area demand, compared to 6% in the previous year.
Climate risks
We consider climate-related risks to be one of the main challenges in ensuring the sustainable development of our business. For this reason, in FY26 we strengthened our approach by incorporating new assets into our physical and transition risk analysis, and by updating the assessment carried out across the existing portfolio in FY25 using the most recent data available from specialized climate risk sources. This process has enabled us to review the resilience of our assets and to reassess the evolution of previously identified risks.
While we use the TCFD recommendations as a methodological reference, our main objective is to develop our own structure process focused on decision-making. This approach allows us to assess the potential financial impact of climate risks and to define specific mitigation measures within our corporate ESG strategy.
