Investor Presentaiton
Contents
Letter from our Chief Executive
Officer and Technical Committee
Chairman
LETTER FROM OUR
CHIEF FINANCIAL
OFFICER
About
FibraShop
Our 2021 Annual
Sustainability Report
04
FIBRA
SHOP
Letter from our
CHIEF FINANCIAL OFFICER
GRI 2-14, 2-22
To our stakeholders:
When we chose to embark on an ESG strategy we did so with the
intent of becoming a global benchmark. For this, we had to fo-
cus on ourselves: exploring deep within the organization, delving
into our beliefs, politics and principles. We found enough material
to create a new vision for the organization, strengthened by the
lessons of our first steps in ESG. I'd like to take this opportunity
to communicate to you some of our most important projects and
achievements in 2021.
According to the materiality matrix we prepared, the most relevant
issue for our stakeholders was energy. Independently of ESG con-
cerns, for a number of years FibraShop has been working to re-
duce energy consumption in all our portfolio properties. The first
action we took was to replace incandescent bulbs with LED light
fixtures. This process is complete in thirteen of our properties and
90% complete on average for the rest of them. We have pledged
to reach 100% by 2024. The second and most important action
in terms of energy is our program of solar cells. With installation
of the first phase, we generated five times more renewable energy
than last year. Energy from renewable sources now accounts for
almost 20% of our total consumption. With the startup of phases
2 and 3 of the solar panel installation program, we are aiming at
supplying 50% of our energy needs from renewable sources by the
year 2024.
We also strengthened our corporate governance in 2021. Our
Technical Committee approved changes in the governance struc-
ture and creation of an ESG Committee, which in turn has ap-
proved new policies and reports. These include policies on the
environment, responsible sourcing, community engagement, im-
provements to the Code of Ethics (already ratified by 95% of our
employees), a report on FibraShop's contribution to the UN Sus-
tainable Development Goals (SDG), and the preparation and pre-
sentation of an ESG training program for all committee members
and employees.
As regards our corporate debt, we structured a green bond specif-
ically to fund completion of the La Perla project, which will have
EDGE certification for its efficient use of energy and water, and will
use sustainable materials in its construction. This plan is under way,
and we are only waiting for the right market conditions to launch
the issue. To a similar end, in May 2022 we obtained a bank line of
credit for MXN1.8 billion, which we used to pay off the FSHOP17
bond at maturity for MXN1.4 billion. This line of credit incorpo-
rates key performance indicators (KPI) in the area of sustainability,
specifically the reduction of energy from non-renewable sources.
In coming months we will continue to develop thematic structured
financing strategies, either market-issued bonds or bank debt, and
by 2025 we are aiming to have more than 50% of our debt sustain-
ability-linked.
Finally, I'd like to briefly comment on La Perla, which today is our
flagship Urban & Life Center Experience and the basis for our strat-
egy of property renovation. In the first months of operation, La Per-
la has shown outstanding performance, and we expect it to reach
stabilization in 2024, increasing operating revenues in our portfolio
by 35%. In coming months we will be applying the Urban & Life
Center Experience concept to other properties, further strengthen-
ing our retail proposition.
FIBRA
SHO
This second Annual Sustainability Report has been prepared with
the specialty of the house: total transparency. Thank you for your
confidence.
Gabriel Ramírez Fernández
Chief Financial Officer
Sustainability
approach
Environment
Social
Governance
Letter of
assurance
Disclosure of
standards and
indicators
AppendixView entire presentation