2020 ANNUAL FINANCIAL REPORT & NON-FINANCIAL PERFORMANCE STATEMENT #>C6C8>6A /:EDGI & "&+*' , +"'&
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Auchan Holding brings together two companies with complementary businesses: Auchan Retail, new generation retailer; Ceetrus, which develops and enlivens sustainable and smart living zones Present in 13 countries, Auchan Retail brings ERHcWLSTW together all the physical formats of the food retail With the support of Auchan Holding, each business sector (hypermarket, supermarket, convenience line is taking a responsible approach to strengthening stores) with 1,985 points of contact enhanced by all its positions on its core markets, by making profound the new digital retail solutions (e.g. click & collect, transformations to achieve their vision, thanks to their drive, home delivery, etc.). Auchan Retaill places IQTPS]IIW the customer at the heart of all its orientations in SVHIVXSQIIXLMWSVLIVI\TIGXEXMSRWMRXIVQWSJSǺIV Auchan Holding also holds an equity investment of thanks to exclusive, quality products at the best price MR4RI]'ERO[LMGLWMRGI LEWFIRIǻXIH and phygital shopping solutions, which combine the JVSQXLINSMRXI\TIVXMWISJ'5(*ERH&YGLER strengths of the physical store and those of the digital Holding to speed up its growth and increase its ecosystem. New-generation retailers, players in the TVIWIRGIMR*YVSTIMRTE]QIRXǻRERGIERHHMKMXEP good, healthy and local areas, Auchan Retail’s MHIRXMǻGEXMSRcWSPYXMSRW 179,590 employees contribute, through a responsible approach with customers, farmers and suppliers, to enable everyone to live better by eating better.
'7*&0)4;34+7*:*39*'='9.3*1.3* 0*= 7*:*39* +.,97* €32 billion 98.5% 1.5 %
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53% France 26% Presence Central in 14 countries and Eastern 3% 43(438.3*38 Europe
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Ceetrus GSRXMRYIWXSIZSPZIJVSQGSQQIVGMEP On 22 October 2019, Auchan Holding sold 50.1% VIEPIWXEXIXSQM\IHYWITVSTIVX]HIZIPSTQIRX of the share capital of Oney Bankk to BPCE, which Ceetrus LEWWIXMXWIPJXLIEMQSJLIPTMRKHIZIPST has consolidated this entity since that date. Oney social ties that will drive the city of the future, creating Bankk[MPPRS[FIRIǻXJVSQXLINSMRXI\TIVXMWISJ'5(* sustainable, connected and lively living spaces and and Auchan Holding to speed up its growth and WXSVIW8LMWIZSPYXMSRMWXEOMRKWLETITVMQEVMP]SR MRGVIEWIMXWTVIWIRGIMR*YVSTIMRTE]QIRXǻRERGI I\MWXMRKGSQQIVGMEPWMXIW;MXLXLIEMQSJIRLERGMRK ERHHMKMXEPMHIRXMǻGEXMSRWSPYXMSRW&PSGEPHMKMXEPFERO their value and attractiveness to contribute to the [MPPGSQTPIXIXLIGYWXSQIVSǺIVMRK success of its traders and partners, Ceetrus reinvents GSQQIVGMEPWMXIWF]MRXIKVEXMRKLSYWMRKSǽGIWPIMWYVI and urban infrastructure. Keeping a close eye on the GMX]XLIGSQTER]EPWS[SVOW[MXLRI[TVSKVEQQIW XSTVSZMHIIEGLVIKMSR[MXLEGSQTVILIRWMZIERH XEMPSVQEHIYVFERWSPYXMSR8LIGSQTER]LEW cIQTPS]IIW
AUCHAN RETAIL CEETRUS 180,560*2514=** 179,590 970 including 108,936 Employees Employees IQTPS]II shareholders
RECURRING NET FINANCIAL 45*7&8.3,c.3(42* EBITDA(1)c DEBT 2020 2020 2020 708 M€ 1,949 M€ 2,158 M€
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Food, digital, environmental and economic transitions, the mass retail sector is currently being shaken up. To respond more fully to the new expectations of consumers and citizens, Auchan Retail fundamentally transforms its business model and practices by taking into account two major newcomers: phygital and a greater focus on eating well and the planet. ;MXLMXWGSVTSVEXITVSNIGXSRXLISRILERHMXMWEFSYXVIHIǻRMRKXLIWXSVIƶWTYVTSWIERHSTIVEXMSR[MXLMR MXWPMZMRKEVIEXSMQTVSZIXLIUYEPMX]SJPMJISJMXWMRLEFMXERXWERHSRXLISXLIVLERHVIHIǻRMRKMXWSǺIVERH its purpose as a responsible retailer.
AUCHAN 2022, IS BUILT AROUND 8;4c5.11&7c&3)cTWO .3*5&7&'1*1*:*7.
Auchan Retaill goes beyond the traditional sustainable, balanced agricultural 5.11&7 role of the distributor and becomes a partnerships that share value with designer and a product selector in order to TVSHYGIVW*HYGEXMSRERHXVERWTEVIRG] BEING THE BENCHMARK SǺIVEYRMUYISǺIVXSGSRWYQIVW SRXLIRYXVMXMSREPUYEPMX]SJTVSHYGXWEVI PLAYER FOR WHAT also being developed z IPIGXSV of an offer based on a variety IS GOOD, HEALTHY of tastes, nutrition, local production, z Designer with its customers and partners AND LOCAL THROUGH culinary trends, traceability and maximum of a reassuring and responsible range THE SELECTION AND transparency. In order to become the of food and non-food products from THE DESIGN OF A reference for consumers looking for a local &YGLER8LMWMWVIǼIGXIHMRXLIVIHIǻRMXMSR UNIQUE, FAIR AND and varied diet, Auchan Retail accelerates of the composition of its own-brand the listing of local products. The company products by relying in particular on the 7*543.'1*c4++*V makes firm commitments in terms of recommendations of experts, customer respect for the environment and animal opinions and ratings as well as the rigorous welfare, in particular through demanding, selection of suppliers.
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Double the number of local products on sale in stores VIWTSRWMFPIEKVMGYPXYVEPWIGXSVW around the world SJ&YGLERFVERHTVSHYGXW carry a nutritional label
Auchan Retail is changing its physical other Auchan points of contact, from the 5.11&7 locations and redefining their purpose, supermarket to the city centre click & notably by expanding the role of the collect, within the same living area ; BRINGING PEOPLE hypermarket. Auchan Retaill [ERXWXS TOGETHER AND z FIGSQIXLIPIEHMRKPSGEPTPE]IVMRIEGL z make its hypermarkets open local living area where it is present by creating PROVIDING ENRICHING platforms to partners (producers, specialist shopping routes and innovative services EXPERIENCES TO brands) by welcoming them to its sales for residents to anticipate their desires IMPROVE THE QUALITY areas. But also storage, preparation and ERHcRIIHW OF LIFE OF RESIDENTS manufacturing platforms to supply the
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Double the revenue generated outside hypermarkets and supermarkets (vs 2018)
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8SEGLMIZI MXWEQFMXMSRW Auchan Retail of each individual, favours openness to the LEVER 1 can rely on the commitment of 179,590 customer and the local, and promotes the PASSIONATE employees around the world. Auchan Retail passion for the product, within an aligned supports them by ensuring the meaning and demanding organisation that knows how EMPLOYEES and consistency of all its actions in each to prioritise.. country. To this end, it develops the skills
The Corporate Social Responsibility strategy is at the heart of the “Auchan 2022” project LEVER 2 as it has become an essential factor for its success. It sets out three priority commitments: CSR EMBODIED z Encouraging healthy eating and combating food waste BY ITS EMPLOYEES z Fighting against plastic pollution z Controlling its carbon footprint
OBJECTIVES FOR 2022
100% of packaging for reusable, recyclable or compostable Auchan brand products. Elimination of plastic as rapidly as possible from fruit and vegetable departments and food services. 25% reduction in energy consumption in stores (vs 2014) 50% of decarbonised energy supply 20% reduction in carbon emissions from the transport of goods
To support the implementation of Auchan 2022, Auchan Retail places operational excellence at the heart of the company thanks to the deployment of the “Renaissance” approach in parallel with its corporate project. In order to restore economic results and regain room for manoeuvre, Auchan Retail has launched an initiative in all its countries called “Rebirth” which helps to focus the company’s operations towards operational excellence, to make the company more agile and to free up the resources necessary for the deployment of its business project. The objective by 2022 is to achieve savings of €1.1 billion per year compared to 2018
Ceetrus is constantly working, and even more so today, to reinvent its commercial sites and build new neighbourhoods in collaboration with local players and partners. The unprecedented situation of the year 2020 shows the need to adapt our lifestyles and functioning. Transforming what already exists, creating living zones and fostering human connections is an urgent need for which Ceetrus has been working for several months. &JXIVQSVIXLERXIR]IEVWSJYRMRXIVVYTXIHVIZIRYIKVS[XLXLILIEPXLGVMWMWWMKRMǻGERXP]MQTEGXIHXLIVIWYPXWSJCeetrus in 2020. But beyond the results, the period was a source of mobilisation and collective pride. During the crisis, Ceetrus, whose identity is based on innovation and solidarity, launched more than 50 initiatives in the service of retailers and residents, deployed quickly in France and internationally (pooled “Aushopping drive”, transformation of car parks into cinemas...). Ceetrus has also WLS[RWSPMHEVMX]XLVSYKLXLIIǺSVXQEHISRVIRXWERHRYQIVSYWMRMXMEXMZIWXSWYTTSVXVIXEMPIVWERHVIWMHIRXW MR+VERGIXLI creation of an inter-brand solidarity fund or the opening of solidarity reception areas in shopping centres for women victims of HSQIWXMGZMSPIRGI MR.XEP][MXLXLIVIRSZEXMSRSJETEZMPMSREXXLIEGGS-SWTMXEPMR2MPERERHXLIǻXXMRKSYXSJERMRXIRWMZIGEVI unit in partnership with the city in less than 60 days; in Romania with the installation of a temporary hospital in partnership with &YGLERc7IXEMPERH1IVS]c2IVPMR8LIWIMRMXMEXMZIWPEYRGLIHHYVMRKXLMWTIVMSHVIǼIGXXLISRKSMRKQSFMPMWEXMSRSJCeetrus to become a benchmark player in the market, with a renewed vision of the city and Retail, made up of mixed uses and positive impact commitment. The teams of CeetrusXSSOEGXMSRMRXLMWYRTVIGIHIRXIHGVMWMW8LIMQTEGXWSJSYVHIGMWMSRWEVIWMKRMǻGERX but it was essential to support retailers and partners. Ceetrus remains consistent with its Vision and has demonstrated its capacity for resilience and innovation.
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Business model
Planning -EZMRKǻVWXMHIRXMǻIHXLIRIIHWSJXLIPSGEP GSQQYRMX]F]GSRWYPXMRKERHHMEPSKYMRK Development *GSRSQMGǻKYVIW [MXLEPPVIPIZERXWXEOILSPHIVW(IIXVYW Structuring #Development shopping centres managed GSGVIEXIWERHHIZIPSTWKPSFEPERH 297 XEMPSVQEHIYVFERWSPYXMSRWGSQFMRMRK #Promotion 2,3 billion m2 of shopping malls GSQQIVGMEPERHVIWMHIRXMEPEVIEWSǽGIW #Urbanism managed ERHYVFERMRJVEWXVYGXYVI 1 billion visitors annually (MXM^IRYVFER planner of mixed 10,700 retailer partners YWIVIEPIWXEXI Ceetrus strives to FYMPHPMZMRK^SRIW *RZMVSRQIRXEPǻKYVIW connected to the city and ensuring 6% decrease in total consumption QSHIVRYVFER per m2 since 2014 (1) functions 45% of total value of real estate GIVXMǻIHSVMRXLITVSGIWWSJFIMRK Co-construct with local territories GIVXMǻIH'7**&2MRYWI and stakeholders 74% SJTVSNIGXWGIVXMǻIHSVMRXLI TVSGIWWSJFIMRKGIVXMǻIH'7**&2 Operate RI[FYMPHMRKWMRGI Manage Manage 92% SJWMXIWLEZIETYFPMGXVERWTSVX Investment Enhance value Divest in use stop within 300 metres #Asset Ceetrusinvests ##Retail in projects that #Property 7-ǻKYVIW create value and 970 employees are line with its #Operation Vision 2030 60% women managers In addition to traditional site management In its role as an QEREKIQIRXSJVIRXEPGLEVKIWXIGLRMGEPEWWIX EWWIXQEREKIV QEREKIQIRXQEVOIXMRKQEREKIQIRXSJPIEWIW SGMIXEPǻKYVIW Ceetrus enhances Ceetrus animates retailPIMWYVIGYPXYVEPERHWSGMEP and secures the WTEGIWERHTVSZMHIWERI[IRVMGLMRKZMWMXSV 7,000 IZIRXW NSFJSVYQ value of its property I\TIVMIRGIXLVSYKLEVERKISJXEMPSVIHMRRSZEXMZI assets to ensure SǺIVWERHWIVZMGIW Ceetrus helps XSGVIEXIFSRHW IRZMVSRQIRXEPE[EVIRIWWLIEPXL maintained quality FIX[IIRPSGEPTPE]IVW[SVOMRK[MXLPSGEPGSQQYRMXMIW TVIZIRXMSRGLEVMX]JYRHVEMWMRK and improved XSFVMRKPMJIXSPSGEPMXMIWERH supporting them in their performance TVSNIGXWERHMRMXMEXMZIW 2,500 stakeholders consulted over more than 300 co-construction workshops .RXLMWYRTVIGIHIRXIHGSRXI\X(IIXVYW[EWEWOIHXSMQEKMRI ERH HIWMKR WSPYXMSRW [MXL TSWMXMZI MQTEGXW JSV GSRWYQIVW Donation of equipment and more than VIWMHIRXW IPIGXIH SǽGMEPW RSRTVSǻX SVKERMWEXMSRW ERH €3 million XS*YVSTIERLSWTMXEPW TVSJIWWMSREPTEVXRIVW8LIHIWMVIXSVIXLMROI\MWXMRKWMXIWERH to deal with the pandemic GSRXVMFYXI XS GLERKMRK GMXMIW ERH RIMKLFSYVLSSHW JSV XLSWI Human support and donation of more [LSPMZIXLIVIMWIWWIRXMEP'ILMRHXLIWISTTSVXYRMXMIWPMIQER] than €300,000 to support RI[QEVOIXW[LMGLEVIMQTSVXERXWSYVGIWSJKVS[XLXLEXGER IRXVITVIRIYVWLMTERHRSRTVSǻX IREFPIXLIGSQTER]XSHMZIVWMJ]MXWVIZIRYIWERHXLSWISJXLI organisations TEVXRIVFVERHW8LIGSQTER]XLIVIJSVIGSRHYGXWXLMWVIǼIGXMSR MR SVHIV XS ERMQEXIVIKIRIVEXI ERH XVERWJSVQ WMXIW MRXS RI[ PMZMRK^SRIWJSVFIXXIVPMZMRKXSKIXLIV
(1) With the temporary closure of more than 90% of Ceetrus shopping malls during successive lockdowns, the Covid-19 pandemic has had an abnormal impact ŇĻƭåĻåŹďDžƭÏŇĻžƣķŤƒĞŇĻƐĞĻƐŤ±ŹƒĞÏƣĮ±ŹũƐĚĞžƐĞžƐƒĚåƐĀďƣŹåƐüŇŹƐƞǑŐŁØƐŹåŤŹåžåĻƒ±ƒĞƽåƐŇüƐƒĚåƐƒŹ±ĥåÏƒŇŹDžũ
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OWNERSHIP OF AUCHAN HOLDING CAPITAL
98%FAMILY SHAREHOLDING
Unlisted company made up of family and employee share ownership, Auchan Holding combines two complementary 2%EMPLOYEE companies, &YGLERc7IXEMPP and Ceetrus, SHAREHOLDING and holds a 49.9% equity investment in Oney Bank alongside BPCE since 2019
100% 100% 49,4%
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OUR PHYSICAL LOCATIONS AT 31 DECEMBER 2020
AUCHAN RETAIL CEETRUS
Hypermarkets Supermarkets Convenience Drive-throughs TOTAL TOTAL stores
FRANCE 136 282 43 161 622 83 Spain 61 85 164 0 310 32 Portugal 31 23 29 0 83 12 Luxembourg 2 1 5 4 12 4 Italy 0 0 0 0 0 52 WESTERN EUROPE 94 109 198 4 405 100 EXCLUDING FRANCE Poland 72 27 16 0 115 24 Hungary 19 6 0 4 29 18 Romania 31 8 407 31 477 24 Russia 63 193 0 0 255 40 Ukraine 17 7 0 2 26 8 Tajikistan 0 1 0 0 1 CENTRAL AND EASTERN 202 241 423 37 903 114 EUROPE Taiwan 20 0 2 0 22 ASIA 20 0 2 0 22 Senegal 1 18 13 1 33 AFRICA 1 18 13 1 33 TOTAL 453 650 679 203 1,985 297
MAIN PRESS RELEASES AUCHAN HOLDING 2020
6 MARCH 2020 22 April 2020 6 July 2020 Auchan Holding publishes its full-year Auchan Holding successfully Auchan Holding successfully set up VIWYPXWJSV 8LITVSǻXEFMPMX]SJAuchan completed the issue of a bond for a schuldschein-type financing for Holding continues to improve (excluding an amount of €1 billion maturing on an amount of €291.5 million with an I\GITXMSREPMXIQWXLEROWXSXLIGSRǻVQIH c/ERYEV]8LMWFSRHGEVVMIWER average maturity of 3.5 years. upturn in Auchan Retail’s performance annual coupon of 2.875%.
19 October 2020 21 July 2020 Auchan Retaill sells its Chinese subsidiary Auchan Holding successfully carried SunArt to its partner Alibaba. Auchan Retail out a liability management transaction thus reaffirms its desire to accelerate the aiming to extend the average maturity deployment of its Auchan 2022 corporate 28 August 2020 of its debt with the redemption of project on its current locations. With this sale Auchan Holding publishes its half- €535.4 million of existing bonds and of around €3 billionMX[MPPLEZIXLIǻRERGMEP year results for 2020. Despite the the issue of a bond of €750 million resources to reduce its debt, to seize any health crisis, the profitability of maturing on 23 July 2027. This bond relevant opportunity in its markets and to Auchan Holding increases, driven by carries an annual coupon of 3.25%. expand into new countries. the very significant improvement in &YGLERc7IXEMPƶW performance.
3SZIQFIV Auchan Holding successfully carried out a buyback of existing bonds for a total of €1,591 million aimed at proactive QEREKIQIRXSJMXWǻRERGMRK
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> REVENUE > EBITDA > NET INCOME
907 34,450 33,984 1,949 32,117 1,739
1,227
- 946 - 1,255
2018 2019 2020 2018 2019 2020 2018 2019 2020
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* - &, 0 ' *(!" $ * * - &, 0 +"-"+0 "& "&
26.2% 98.5% 18.3%
2.4% 2020 0.4% 2020 1.5%
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Risk universe: sector history Negative/positive Main impacts Quotes and business events and consequences knowledge
Main risks
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Main exposures 5 1 2 3 4 1 Control of the entire value chain 5 6 7 8 2 Products - Impact on safety and hygiene 4 9 10 10 9 1 2 3 in the processing chain of marketed food products 3 Environment - Unsustainable agricultural practices or production methods 3 8 4 5 6 7 and selection of raw materials 4 Human rights and fundamental freedoms - forced labour/working conditions of migrants and posted workers/child labour 2 5 Environment - Climate risk 6 Environment - Lack of traceability of raw materials 1 and ingredients used in the composition of the products distributed PROBABILITY 7 Products - Health impact associated with storage, 1 2 3 4 5 management in warehouses and delivery of products to customers 8 Environment - Non-respect of animal welfare
IMPACT 9 Employees - Occupational health and safety 100 Employees - Failure to respect work-life balance 1 Gross risk 1 Net risk
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HUMAN DEVELOPMENT
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Scope 1 Scope 2 Scope 3
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Fuels EEGP Textile Health Other PGC - PF LSE - PJ Home Deco Traditional food Scope 2 (energy) Scope 1 (refrigerant) Scope 3 (Transport)
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Non-main risks = causes and consequences not analysed
Risk universe: sector history Negative/positive Main impacts Quotes and business events and consequences knowledge
Main risks
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PARAMETERS TAKEN INTO Types of direct Auchan Retail Auchan Retail ACCOUNT (products sold) countries of presence purchasing channels IN THE and indirect purchases IDENTIFICATION AND ASSESSMENT OF RISKS
Product sales amount Auchan Retail Risk mitigation supply countries means (charter, audits, etc.)
The risks considered relate to violations of human rights and fundamental freedoms, the health and safety of people and the environment RISK ANALYSIS • 8ĜųŸƋĜÚåĹƋĜĀåÚŞųåÏĜŸåĬƼ±ÏųŅŸŸƋĘååĹƋĜųåŸƚŞŞĬƼÏʱĜĹ TOOLS • These risks were then assessed (using statistical databases and literature reviews) in order to be ranked and to identify the major risk areas for Auchan Retail
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)IǻRMXMSRSJXLIWGSTI 1 TYVGLEWMRKJEQMPMIW 2 .RLIVIRXVMWOEWWIWWQIRX ERHVMWOYRMZIVWI ƽFÚåĹƋĜĀϱƋĜŅĹŅüƋĘåĜĹĘåųåĹƋųĜŸĩ > 5,000 ƽ High-stakes purchasing families ĜĹƋĘåŞƚųÏʱŸĜĹčü±ĵĜĬĜåŸĜÚåĹƋĜĀåÚ ŠŸƋų±ƋåčĜÏØŸĜčĹĜĀϱĹƋ±ĵŅƚĹƋØ ĜŪʱŸåŎØƱŸåÚŅĹ±Ĺ±ŞŞųŅ±ÏĘ ÏŅƚĹƋųƼŅüŅųĜčĜĹØåƋÏţš ÏŅĵÆĜĹĜĹč× Ƌ±ƋĜŸƋĜϱĬ±Ĺ±ĬƼŸĜŸŠųĜŸĩ ƽ ŅÏĜ±ĬØĘå±ĬƋĘxŸ±üåƋƼ±ĹÚ Ú±Ƌ±Æ±ŸåÆƼÏŅƚĹƋųƼ åĹƴĜųŅĹĵåĹƋ±ĬųĜŸĩŸųåĬåƴ±ĹƋ ±ĹÚÆƼŞƚųÏʱŸĜĹčϱƋåčŅųƼš üŅųeƚÏʱŠXĜƋåų±ƋƚųåųåƴĜåƵ 3 .HIRXMǻGEXMSRSJƸLSXWTSXWƹ 4 )IǻRMXMSRSJXLIEGXMSRTPERERH XSFIGSRWMHIVIH VIWMHYEPVMWO GSQQMXQIRXSJXLIXIEQW ƽeŸŸåŸŸĵåĹƋŅüƋĘåĬåƴåĬŅüÏŅĹƋųŅĬ ÎŅŅĬŸxkÆģåÏƋĜƴåŸxåŸŅƚųÏåŸx ŅĹå±ÏĘŅüƋĘåųĜŸĩŸƚÆģåÏƋŸ :ŅƴåųűĹÏå ƽĘŅĜÏåŅüŞųĜŅųĜƋƼ±ų屟ŅĹƵĘĜÏĘ ÎeŸŸåŸŸĵåĹƋxeƚÚĜƋŸxaŅĹĜƋŅųĜĹč ÏŅĹƋųŅĬxųåÚƚÏƋĜŅĹåýŅųƋŸĵƚŸƋüŅÏƚŸ < 50 Îų±ĜĹĜĹčxa±Ĺ±čåĵåĹƋ
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COUNTRY OF ORIGIN RISKS NATURE OF PRODUCTS
• China • Forced labour • Consumer electronics and appliances • Russia • Child labour • Toys – childcare • France • Toxic substances at work • Leisure time • Bangladesh • Building integrity • Household • India • Excessive working hours • Textiles • Spain • Unsustainable forest management • Fruit and vegetables • Discrimination & non-diversity • Dairy & egg products • Meat & meat products
Non-respect of animal welfare Forced labour Occupational safety
Abuse of power Child labour during negotiations
Code of business conduct Ethics charter CSR policy
Labour and environmental audits HR policies
Non-respect Abuse of power Occupational safety of animal welfare during negotiations
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Own There are no longer any high-priority risks operations AUCHAN OPERATIONS
Auchan 8LIQSWXWMKRMǻGERXTVMSVMXMIWEVIPSGEXIHMRSpain direct - and relate to animal welfare, consumer safety, food abuse of power during negotiations S K
S Auchan direct 8LIQSWXWMKRMǻGERXTVMSVMXMIWEVIQEMRP]China, - non-food India and Bangladesh and relate to working conditions NET RI TIER 1 SUPPLIERS Indirect 8LIQSWXWMKRMǻGERXTVMSVMXMIWEVIPSGEXIHMRChina and Russia purchases and relate in particular to forced labour in Russia on the nature of purchases (site equipment)
Purchases 8LIQSWXWMKRMǻGERXTVMSVMXMIWVIPEXIXSdeforestation, beyond workplace safety and climate change caused by soybeans, Tier 1 pulp and palm oil RANK > 1
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