The European Union Taxonomy defines Minimum Safeguards as the “alignment with the Guidelines of the Organisation for Economic Co-operation and Development (OECD1) for Multinational Enterprises, the United Nations Guiding Principles on Business and Human Rights (UNGPs), and the principles and rights set out in the eight fundamental conventions identified in the International Labour Organization Declaration on Fundamental Principles and Rights at Work and in the International Bill of Human Rights.”
To help companies assess compliance with these requirements, the European Commission’s Platform on Sustainable Finance published, in October 2022, the Final Report on Minimum Safeguards, which identifies four areas that companies must consider: human rights, corruption, taxation and fair competition. The activities undertaken by Jerónimo Martins in pursuit of compliance with these areas are described below.
To comply with European recommendations on due diligence, we have been implementing across the Group’s Companies a set of measures that aim to prevent and mitigate the negative impacts of our activities on the environment, as well as in the areas of human rights, labour practices and governance. This process follows the OECD Guidelines for Multinational Enterprises and the UNGPs.
1 The Guidelines of the Organisation for Economic Co-operation and Development (OECD) for Multinational Enterprises, developed in 1976, have been continuously updated in light of social challenges and the evolving context of international business.