In 2023, we announced our first climate goal, approved by the Board of Directors, to achieve net zero emissions by 2035 in Scope 1 and 2 categories, according to the Greenhouse Gas (GHG) Protocol. As an interim target, we will reduce these emissions by 65% by 2030, using 2021 as the baseline. This commitment covers our subsidiaries in Chile, Peru, and Colombia, accounting for 95% of our revenues in 2023, and we believe it is aligned with the Science Based Targets Initiative (SBTi) standard to limit global temperature rise to below 1.5°C for Scope 1 and 2.
At Falabella, we use technology to optimize energy usage and reduce electricity consumption without compromising the comfort of our customers and employees in our facilities. We employ centralized control systems and energy-efficient climate and lighting equipment, and we have adopted measures such as LED lighting and the use of natural light. In 2023, we replaced lighting in over 36,900 m² of sales area with energy-efficient LED lights.
Additionally, we have approved a Corporate Energy Policy to guide our ecosystem and employees in promoting a culture of energy efficiency.
The adoption of renewable energy in our operations presents a significant opportunity to reduce our carbon footprint. For this reason, we have established power purchase agreements (PPAs) with suppliers who provide certified and traceable electricity from renewable sources to our facilities.
Currently, we have supply agreements with Enel in Chile and Statkraft in Peru, which has allowed us to supply a total of 265 facilities with renewable energy and increase our share of electricity sourced from renewables to 73% in 2023.
Our infrastructure and project teams work on the realization of the group’s real estate projects, aiming to balance growth and development with minimizing environmental impact.
Our sustainable construction strategy focuses on creating healthy, safe, and comfortable spaces, based on pillars such as the use of low-carbon materials, waste recycling, efficient design to improve thermal and lighting performance, the incorporation of energy-efficient equipment, responsible water use, proper waste management, and ensuring ventilation, natural lighting, and safety to promote the well-being of individuals.
At Falabella, we enhance our environmental performance with LEED and EDGE certifications, achieving water and energy efficiency, and waste reduction. In 2023, we obtained LEED Silver certification for the expansion of the Falabella San Bernardo Distribution Center and the Certified level for Mallplaza Comas in Peru.
We are aware that climate change brings both risks and opportunities that can impact our assets and value chain. For this reason, we have made progress in incorporating the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and, moving forward, the S2 standard of the International Financial Reporting Standards (IFRS).
In line with these recommendations, we have integrated Climate Change Risk into our Comprehensive Risk Management Policy and the Corporate Risk Management Model.
In 2023, we held multidisciplinary workshops in Chile, Peru, and Colombia to identify climate risks in critical assets and their controls, consolidating an inventory of 14 specific physical risks.
