The sustainability statement of the Jerónimo Martins Group was prepared in accordance with the ESRS (European Sustainability Reporting Standards) as outlined in the CSRD (Corporate Sustainability Reporting Directive). In subchapter 7. “Reporting frameworks” we aim at relating this statement with other sustainability standards, namely GRI (Global Reporting Initiative), SASB (Sustainability Accounting Standards Board), and IFRS S (International Financial Reporting Standards Sustainability). This approach allows for greater interoperability and comparability of information, ensuring that the statement meets the expectations of various stakeholders, among which actual and potential investors. It also provides additional sustainability information required by other legislation and specific standards and frameworks.
How to read this report
The following pages of this report refer to our Group’s value chain, including identified impacts, risks, and opportunities upstream, downstream, and within own operations. In specific cases, as stated in the respective indicator, we may claim omission of information due to “intellectual property, know-how, or the results of innovation”, as described in the ESRS.
As part of our business strategy and reporting, aligned with the principle of sustainable development, this sustainability statement was prepared on a consolidated basis, considering the same scope as for the financial statements. Referring to the year 2024 (from 1 January to 31 December), it includes the Companies of the Group: Jerónimo Martins’ Holding and its subsidiaries, joint ventures, and associate companies. The time horizon considered in this report is the same as the one in the financial statements. The Jerónimo Martins Group assesses impacts, risks, and opportunities across the time frames defined by ESRS 1: short-term (one year), medium-term (two to five years), and long-term (more than five years). Where applicable, metrics and estimates used to calculate certain indicators is noted in the respective topic, along with the sources of the information used. The same applies to cases where the scope of Companies considered varies from those of the financial statements.
The sustainability disclosures in this report have been significantly expanded to comply with the new requirements of the CSRD and ESRS, which are being implemented for the first time in 2024, albeit the transposition into national law of the CSRD has not taken place in Portugal, where the Group’s headquarters are located. This expansion includes more comprehensive data and information to meet the revised reporting standards. If there have been changes in practices or if errors from previous reporting periods have been identified, these are clearly described in the specific sections where the topics are discussed. In the same way, the information provided will always be restated whenever deemed important and necessary to ensure accurate and reliable information up to the final publication of the report on the Group’s website. Moreover, updates will be made on the dedicated 2024 annual report website, whenever their importance and necessity are verified.
This is also the first year in which our sustainability statement is no longer organised by pillars of Corporate Responsibility action. Our policies, strategy and targets have been distributed across the several dimensions of the ESG formula, in line with the recommendations of the ESRS. Our commitment to transparency in corporate reporting, reinforced by our presence in over 140 sustainability indices, translates into our continuous efforts to improving the quality and granularity of the data reported year-on-year. For this reason, in this sustainability statement you will find the mandatory detailed information regarding topics identified as material, as well as a set of actions and indicators related to topics that although not reaching the materiality threshold we nevertheless consider relevant for our business and/or at least some of our stakeholders. A clear distinction between the two is ensured by the use of a specific iconography next to the titles/subtitles of each section:
The sustainability statement is subject to a limited assurance review conducted by the Group’s appointed external and independent auditor. This review process involves evaluating the accuracy and reliability of the information presented, and providing an additional layer of credibility and confidence in the reported data.
To know more about the basis of preparation of this report, please refer to “Basis for presentation”, and “Information on Shareholder Structure, Organisation and Corporate Governance”.