Sustainability Report

2019 SUSTAINABILITY REPORT 2 2019 SUSTAINABILITY Contents REPORT 04 About this report 06 The Olav Thon Group 2019 09 Sustainable Value Creation Group Structure 10 The Olav Thon Group’s Sustainability Work 13 The Olav Thon Foundation 14 Pantelotteriet 16 UN Sustainable Development Goals 19 Economic Corporate Social Responsibility 20 The Environment 27 Social Responsibility 30 HSE 34 The Supply Chain 35 General Disclosures 36 GRI Index 37 UN Global Compact 39 Appendices Executive Management Team OLAV OLE- CHRISTIAN DAG MORTEN ARNE B . THON HALLERUD TANGEVALD - JENSEN THORVALDSEN SPERRE Konsernsjef Visekonsernsjef/ Konserndirektør Konserndirektør Konserndirektør Konserndirektør Eiendom Økonomi | Administrasjon Hotell | Restaurant Finans 3 About this report The Olav Thon Group is a member of the UN Global Compact and this is the sixth time it has published a sustainability report. The purpose of the report is to describe how the Group strives to operate responsibly and sustainably. The Olav Thon Group has reported in accordance with the Global Reporting Initiative’s (GRI) reporting framework since 2013. This report has been prepared in accordance with GRI Standards (Core). LIMITATIONS AND REPORTING PERIOD materiality analysis were conducted The combined stakeholder This Sustainability Report is aimed at in 2016/2017. dialogue and materiality analysis our customers, guests, employees, was conducted by the technical suppliers, the local communities The need to repeat these was first adviser for sustainability work, who in which we operate, students, discussed in a meeting with the analysed aspects and associated special interest groups, and public group directors in September 2016, indicators and also collected priority authorities. We regard all of you as at which a decision was made to analyses from the group directors stakeholders who are affected by, conduct a combined stakeholder in relation to the various aspects and have a considerable influence dialogue and materiality analysis (including simple explanations for on, our business. with key personnel in the Group, each aspect). Interviews were then as well as the group directors. The conducted with the group directors The data presented in this report Group’s economic, environmental in which the aspects were reviewed is for all the companies in the and social impact was examined and explained further. The technical Olav Thon Group, which means earlier to determine our footprint adviser and group directors business units of which the Olav and thereby identify the areas in discussed the aspects and related Thon Group owns more than 50%. which we can make a contribution significant/relevant indicators (based Any exceptions are explained in the in the form of sustainable on the previous materiality analysis notes on the individual data. development. The previous and a new analysis conducted by The report is for the calendar year materiality analysis is still viewed the technical adviser looking at 2019 and has been produced in as highly relevant in the context of market demand and signals from Norwegian, Swedish, and English. the Sustainability Report, although the executive management team The Group has an annual reporting some adjustments have been made and from key personnel in the cycle, meaning that the next report following the new stakeholder organisation). All group directors will be published in the second dialogue. were then given the opportunity quarter of 2021. The previous report to prioritise the aspects anew. was published in September 2019. The stakeholder dialogue was These were compiled in a priority conducted in two phases: an table (average of all of the group MATERIALITY ANALYSIS AND ongoing dialogue with key personnel directors’ priorities), which in turn STAKEHOLDER DIALOGUE in the Group and interviews with formed the basis for the managers’ We have previously conducted the group directors. The ongoing report with recommendations. a materiality analysis in order dialogue with key personnel is This report has taken the previous to define the content of the essential in order to obtain relevant materiality analysis into account, as Sustainability Report and ensure information and focus our efforts well as the most recent stakeholder that the report is as relevant to our in the direction the organisation dialogue. core operations as possible. This was deems necessary at any given time. done for the first time in 2013 as At the same time, it is the group FOCUS AREAS part of the preparations for the first directors who make decisions in In our sixth sustainability report, sustainability report. the area of sustainability and it we have decided to emphasise We need to conduct these is important that information on four focus areas for the Group: stakeholder dialogues and trends is communicated to the economics; environment and green materiality analyses at regular group directors, so that they can operations; health and safety; intervals and, for this reason, a new make well-informed decisions on diversity and inclusion. stakeholder dialogue and a new the direction of the work. 4 5,8 Econoc Environmental 4,4 Human rights Labor prac�ces/decent work Society 3,2 3,2 Product responsibility 3,0 1,4 5 The Olav Thon Group 2019 OUR SHOPPING CENTRES AN HOTELS Nor 9 OF THE 10 LARGEST 79 Te Group ons or nes 9 o te 10 rest soppn centres n Nor 72 Seen 11 * O which 5 hotels and 3 apartment in Brussels and 1 hotel Ro�erdam Tot: Soppn centres KJØPESENTER 90 Hotes Brusses/Ro�erdam* NÆRINGSEIENDOM BOLIG 81 9 DID YOU KNOW... Thon Hotels has about AFI adla was Thon Hotel 10450 ote roos ne est soppn Rosenkrant eren spread across 72 hotels centre 2019 s ne est ote in Norway 2019 6 O Ton Group’s proﬁt eore t n 2019: 42 BILLION (NOK Net investments At the year end, totalled NOK 2.5 cash reserves billion in 2019 amounted to NOK 9.4 billion 7 Sustainable value creation It is my great pleasure to present the Olav Thon Group’s sixth Sustainability Report, which has been produced to systemise and promote the Olav Thon Group’s work on sustainable development. The Olav Thon Group has been a signatory to the UN Global Compact initiative since 2012. This is the world’s largest corporate sustainability initiative and is based on 10 principles covering the areas of human rights, labour practices, the environment and anti-corruption. We signed up to the Global Compact out of a desire to run our business in accordance with these principles wherever possible. In December 2013, I established the Olav Thon Foundation and transferred ownership of the Olav Thon Group to it. The purpose of the foundation is to exercise stable, long-term ownership of Olav Thon Gruppen AS and its subsidiaries, and to distribute funds to non-profit causes. I hope that ensuring the continued development of the Olav Thon Group, while also making sure that some of the profits generated by the business are used for non-profit purposes, will prove a sustainable approach – for the company, its employees and for society in general. I hope you find this a good read! Olav Thon Chairman of the Board/Group CEO 9 The Olav Thon Group’s Sustainability Work The Olav Thon Group works systematically on sustainability and corporate social responsibility. We have policies and guidelines in place and we continuously follow up on sustainability and corporate social responsibility work. In order to integrate the consideration and coordination has been assigned to Further evaluation of the Group’s for human rights, employee rights, the HSE department, represented by focus areas is addressed in the equality and anti-discrimination, the Group’s sustainability advisor. The various chapters of this report. social conditions, the external various companies/entities within the environment and the fight against Group are responsible for the everyday OTHER POLICIES AND GUIDELINES corruption, the Olav Thon Group has implementation of sustainability The Olav Thon Group has a number developed a policy for corporate social measures. of policies and guidelines within responsibility, joined the UN Global corporate social responsibility and Compact as a member, prepares The work on corporate social sustainability. annual reports in accordance with responsibility and sustainability will be GRI Standards, employed its own highlighted internally and externally Policies: sustainability advisor and convenes through annual sustainability reports, - Environmental Policy annual status meetings for corporate as well as internally through the - Diversity and Equality Policy management addressing sustainability use of separate tools for internal - Group Procurement Policy and corporate social responsibility. communication. - Travel Policy CORPORATE SOCIAL OVERALL EVALUATION OF THE Guidelines RESPONSIBILITY POLICY WORK IN THE LAST YEAR - Supplier Code of Conduct The Olav Thon Group policy for The work on sustainability and - Guidelines for waste sorting corporate social responsibility corporate social responsibility is - Guidelines for company/service describes the Group’s goal of evaluated annually at status meetings cars pursuing the most sustainable between the HSE department and the - Guidelines for responsible development possible in its Executive Management Team. At the procurement business activities. Corporate social 2019 status meeting, the 2018/2019 responsibility in the Olav Thon Group status was presented, alongside EXPECTATIONS GOING FORWARD is based on Norwegian legislative proposals for activities in 2019/2020. With regard to the Olav Thon Group’s requirements

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