Latest news with #SocialValueImpactReport
Fashion Network
22-05-2025
- Business
- Fashion Network
Westfield claims almost £24m in 'social value' for its UK malls last year
Shopping centre performance isn't just about footfall and retail. Major London malls operator Westfield (part of Unibail-Rodamco-Westfield) has reported £23.8 million in social value generated across its UK destinations in 2024. Its latest Social Value Impact Report, which focuses on the scale and scope of social investment (including job creation, youth engagement, biodiversity and community-led initiatives) covers three of its key London malls. Westfield Stratford City recorded the highest year-on-year increase in social value across the UK portfolio, rising by £3.6 million to reach £12.5 million in 2024. Community investment more than doubled to £6.7 million, bolstered by initiatives such as The Felix Project, which redistributed 2.6 million meals and prevented 1,430 tonnes of CO₂e from going to waste across the UK. Other highlights include £13,000 in bursaries for Newham students through the Birkbeck Student Fund and the Newham Music Hub welcoming over 10,000 visitors. Volunteering hours rose by nearly 50%, 'reflecting deeper local community engagement'. Westfield London social value contribution increased from £9.8 million in 2023 to £10.5 million in 2024, a 7% increase year-on-year. The report said local employment rose by more than 10% in 2024, reflecting strong job growth in the area, with work opportunities increasing by 60%, and community investment nearly doubling. Other key contributors include West London Retail Skills Hub which, since its launch, has engaged 126 employers, and West Youth Zone, which recorded 22,853 visits in its first year, offering affordable, high-impact programmes to over 2,400 young people. In its first year of reporting, Centrale & Whitgift Shopping Centres in Croydon generated £813,241 in social value. Key milestones included the unveiling of the Elianne Andam Memorial Mural, created in partnership with local organisations, and the impactful 'Cut It Out' football match at Crystal Palace — both aimed at promoting youth safety and community cohesion. Looking ahead, the centre plans to expand its reporting scope in 2025 to capture social value generated through its supply chain. Jacinta Rowsell, managing director, Customer & Retail Operations, Northern Europe, URW, said: 'The remarkable growth in social value across our UK centres highlights the transformative impact of sustained community investment, a core driver of our Better Places strategy. 'From job creation and youth engagement to environmental initiatives, these efforts reflect our commitment to fostering thriving, resilient communities. As we continue to expand our programmes, we remain dedicated to driving meaningful change that benefits both people and the planet.'
Fashion Network
22-05-2025
- Business
- Fashion Network
Westfield claims almost £24m in 'social value' for its UK malls last year
Shopping centre performance isn't just about footfall and retail. Major London malls operator Westfield (part of Unibail-Rodamco-Westfield) has reported £23.8 million in social value generated across its UK destinations in 2024. Its latest Social Value Impact Report, which focuses on the scale and scope of social investment (including job creation, youth engagement, biodiversity and community-led initiatives) covers three of its key London malls. Westfield Stratford City recorded the highest year-on-year increase in social value across the UK portfolio, rising by £3.6 million to reach £12.5 million in 2024. Community investment more than doubled to £6.7 million, bolstered by initiatives such as The Felix Project, which redistributed 2.6 million meals and prevented 1,430 tonnes of CO₂e from going to waste across the UK. Other highlights include £13,000 in bursaries for Newham students through the Birkbeck Student Fund and the Newham Music Hub welcoming over 10,000 visitors. Volunteering hours rose by nearly 50%, 'reflecting deeper local community engagement'. Westfield London social value contribution increased from £9.8 million in 2023 to £10.5 million in 2024, a 7% increase year-on-year. The report said local employment rose by more than 10% in 2024, reflecting strong job growth in the area, with work opportunities increasing by 60%, and community investment nearly doubling. Other key contributors include West London Retail Skills Hub which, since its launch, has engaged 126 employers, and West Youth Zone, which recorded 22,853 visits in its first year, offering affordable, high-impact programmes to over 2,400 young people. In its first year of reporting, Centrale & Whitgift Shopping Centres in Croydon generated £813,241 in social value. Key milestones included the unveiling of the Elianne Andam Memorial Mural, created in partnership with local organisations, and the impactful 'Cut It Out' football match at Crystal Palace — both aimed at promoting youth safety and community cohesion. Looking ahead, the centre plans to expand its reporting scope in 2025 to capture social value generated through its supply chain. Jacinta Rowsell, managing director, Customer & Retail Operations, Northern Europe, URW, said: 'The remarkable growth in social value across our UK centres highlights the transformative impact of sustained community investment, a core driver of our Better Places strategy. 'From job creation and youth engagement to environmental initiatives, these efforts reflect our commitment to fostering thriving, resilient communities. As we continue to expand our programmes, we remain dedicated to driving meaningful change that benefits both people and the planet.'
