Carrefour (CA) Investor update summary

Strategic Vision, CSR Integration, and Context

• CSR is positioned as a core value driver, enhancing resilience, risk management, and brand differentiation, with a strategy built around climate, biodiversity, and health pillars.

• Initiatives are embedded in operations, governance, and employee incentives, with a dedicated CSR committee and board oversight.

• The CSR index is integrated into variable pay, ensuring accountability and alignment across the organization.

• Diversity, inclusion, and human rights are prioritized, with targets for gender equality and disability inclusion.

• Food system transformations and regulatory shifts are reshaping risks and opportunities, requiring anticipation for resilience and value creation.

Climate Action and Decarbonization

• Achieved Scope 1 and 2 emissions reduction targets five years ahead of schedule, aiming for a 60% cut by 2030 through energy efficiency and renewables.

• Scope 3 emissions, representing up to 99% of the footprint, targeted for a 32% reduction by 2030 and 49% by 2035, focusing on supplier engagement and plant-based alternatives.

• Top 100 suppliers must align with 1.5°C targets by 2026, expanding to 150 by 2030, with risk of delisting for non-compliance.

• 11 Sustainability Linked Bonds issued since 2022, raising €7.25bn.

• Invests €200 million annually in energy efficiency, renewable energy, and low-carbon mobility, with 19% energy reduction since 2019.

Supply Chain, Biodiversity, and Responsible Sourcing

• Zero deforestation achieved in Brazil for private label beef by 2025/2026, with robust traceability and satellite monitoring.

• 100% of high-risk factories audited annually for human rights compliance; Worker Voice initiative collects anonymous feedback.

• Certified sustainable product sales target of €8.5 billion by 2030, with €7.5bn in sales by 2025.

• Animal welfare standards integrated across supply chains, with 88% of slaughterhouses audited and 90% of shell egg sales in Europe cage-free by 2025.

• Collaboration with NGOs and industry partners to drive sector-wide improvements.