The METRO ESG strategy comprises aspects related to environmental, social and corporate governance topics which have a significant influence on our operations and which we can make a major impact on through our business activities.
Our ESG strategy sets out 3 sustainability priorities. Climate and carbon; ethics and trust; as well as diversity, equity and inclusion:
- Climate and carbon: we reduce emissions and waste in our business operations and contribute to reducing CO2 in the food sector, for example by using renewable energy and implementing measures to reduce food waste.
- Ethics and trust: we hold safe and fair working conditions in our own business operations in high regard and promote supply chains in which business is conducted in an ethically appropriate and transparent manner with respect to human rights and environmental impact.
- Diversity, equity and inclusion: in line with the inclusive ‘ONE METRO’ culture and based on the understanding that our employees are essential to our business, the focus is on promoting the health and well-being of employees.
METRO’s core objective is to drive the transformation towards responsible and sustainable business practices – within our own business operations, but also in our collaboration with our suppliers and customers.
We regularly carry out a review of the completeness of the material non-financial matters to be reported, the so-called materiality analysis. In doing so, we determine whether we cover the sustainability topics which are relevant to us. In addition, we ensure that we account for potentially changing business interests and impacts on the environment or society and that we illustrate these matters in our NFS.
The materiality analysis was revised in financial year 2022/23. Initially, a list of potentially material topics was compiled that feeds off the future requirements of the European Sustainability Reporting Standards (ESRS), additional topics from selected comparative companies and the topics which have been material for METRO to date.
In the next step, the members of the ESG Peer Group – METRO’s central ESG steering committee – along with selected CEOs from METRO national subsidiaries and service companies evaluated these topics with regard to their relevance to the understanding of business performance, business results and the situation of METRO, as well as with respect to the impact of the business activities on the non-financial aspects of environmental matters, employee interests, social matters, respect for human rights and combating corruption and bribery. This result was then validated by the Management Board of METRO AG. In addition, a derivation was made as to which of the identified issues from the perspective of the group are also material for the holding company, which is also subject to reporting requirements. The 2 final results of the materiality analysis were then presented to the Commercial Board and the Supervisory Board. The topics identified as part of the process described and the matters of the materiality analysis are the subject of this combined non-financial statement and meet the requirements of § 315c Section 2 of the HGB and § 289c Section 3 of the HGB.