In response to increasing regulatory pressure on sustainability, rising stakeholder expectations regarding transparent disclosure of biodiversity management strategies, and the growing challenges that biodiversity loss may pose to ecosystems, we initiated, in 2025, our first structured assessment of our interactions with nature, aligned with the recommendations of the TNFD.
The first step consisted of analysing the locations of the Group’s assets, with the aim of identifying sites situated in areas considered nationally and internationally relevant for biodiversity, using the World Database of Protected Areas (WDPA). Subsequently, nature‑related impacts and dependencies were mapped1, and potential material risks2 for our activities and those of the wider value chain were identified. This mapping covered the six largest Companies in the Group by sales volume (Biedronka, Pingo Doce, Ara3, Recheio, Hebe and JMA), and considered the markets of Poland, Portugal, Colombia and Morocco.
Assets located in relevant biodiversity areas
Using the World Database of Protected Areas (WDPA) enables us to identify assets located in legally protected areas, UNESCO Biosphere Reserves and Ramsar4 sites. Of the more than 6,500 Group facilities located in the countries analysed, only 7% overlap with protected areas:
Portugal – 2% of facilities in protected areas (typologies: food retail stores and aquaculture operations)
Poland – 9% of facilities in protected areas (typologies: food retail stores, specialised retail stores and distribution centres)
Colombia – 4% of facilities in protected areas (typologies: food retail stores, cash‑and‑carry stores and distribution centres)
Morocco – no facilities identified in protected areas
Even in locations situated within protected areas, our infrastructures comply with all environmental legal requirements and are, in their vast majority, located within urban areas. The Group obtains the necessary construction and operating permits in advance and collaborates with governmental authorities to ensure the conservation of those areas.
Impacts and dependencies
The preliminary analysis carried out using the ENCORE5 tool – still subject to refinement – indicates that both the potential impacts of biodiversity loss and the dependencies on nature are more significant upstream in the value chain than in our own operations.
Dimension |
|
Own operations |
|
Supply chain |
||||||
|---|---|---|---|---|---|---|---|---|---|---|
Impacts |
|
|
|
|
||||||
Dependencies |
|
|
|
|
||||||
|
||||||||||
Risks and opportunities
The preliminary analysis to identify biodiversity‑related risks6 associated with our activities in the assessed countries allowed us to identify as relevant:
Biodiversity pressures (physical risk) in Colombia, Morocco, Poland and Portugal
Regulating services-mitigation7 (physical risk) in Colombia and Portugal
Regulating and supporting services-enabling8 (physical risk) in Colombia
Reputational risks in Colombia and Morocco
With regard to water management9 as a critical resource, the following risks were identified:
Water availability in Portugal
Water quality in Poland
Reputational risks in Colombia
The results obtained reinforce the relevance of the initiatives we currently have underway, particularly in combating climate change and deforestation. In 2026, we intend to enhance the assessment of risks and opportunities associated with biodiversity and ecosystems, including the identification and quantification of the related financial effects – a step that will also enable the incorporation of as‑yet unidentified opportunities. In parallel, we will advance the development of TNFD‑aligned targets and metrics, establishing baselines that ensure consistent performance monitoring and the progressive integration of these topics into the Group’s management and reporting.
1 Mapping carried out based on the TNFD LEAP methodology and using tools such as ENCORE, the WRI Aqueduct Water Risk Atlas and the WWF Biodiversity Risk Filter.
2 A risk is considered material when it is rated “Medium” or above, on a scale ranging from “Very Low” to “Very High”, thereby reflecting a level of relevance that justifies its integration into the Group’s management processes.
3 Includes the operation of Bodega del Canasto (70 stores in 2025).
4 Ramsar sites are Wetlands of International Importance designated by countries under the Ramsar Convention, a global treaty established to promote the conservation and wise use of wetlands. These sites form an international network essential for biodiversity and are recognised by the Convention for maintaining key ecological components, processes and services, thereby receiving reinforced protection at national and international level.
5 ENCORE is a tool that helps link economic activities with their dependencies and impacts on natural capital. It uses sector classifications based on ISIC codes to identify material environmental pressures.
6 According to the WWF Biodiversity Risk Filter tool.
7 Refers to the ability of ecosystems to reduce exposure to natural hazards, such as wildfires, landslides, pests or extreme heat, thereby protecting operations and reducing exposure to these types of physical risks.
8 Refers to the ecosystem services that enable production processes, including the cultivation of agricultural crops or the rearing of livestock. This risk category includes five key enabling ecosystem services for various industries: soil condition, water condition, air condition, ecosystem condition and pollination.
9 According to the WRI Aqueduct Water Risk Atlas.