About this Report
As a large group of companies and service providers, Migros is in constant contact with people and its environment in various ways.
In addition to Migros' economic performance and its asset, financial and earnings position, this report also highlights its roots in the natural and built environment and its interactions with society and various stakeholders. Migros has a clear concept of value creation and manages the company accordingly.
Financial reporting
The present Migros Group financial statements have been prepared in conformity with the provisions of the law and the Swiss GAAP FER accounting and reporting recommendations. With the aim of ensuring maximum transparency for the reader, the Migros Group has decided in many areas to impose stricter reporting and disclosure requirements than those stipulated by Swiss GAAP FER. Accordingly, Swiss GAAP FER forms the basis for financial reporting which is as transparent, clear and reader-oriented as possible.
The main accounting principles can be found in the PDF Migros Group Financial Report. The financial report of the Migros Group is available in English, German and French. The German version takes precedence.
Governance
The information about governance describes the overall organisational and contextual structuring of the management and supervision of Migros, a cooperative structure. The Federation of Migros Cooperatives is committed to responsible, purposeful and modern governance. It therefore voluntarily adheres to the provisions of economiesuisse's Swiss Code of Best Practice for Corporate Governance, to the Corporate Governance Directive of the SIX Swiss Exchange (DCG) and, where appropriate, to the federal ordinance against excessive pay (VegüV). Any deviations from these provisions are referred to in the report.
Sustainability reporting
Since the 2020 reporting year, sustainability reporting has been an integral component of the regular sustainability communications on the corporate website. In addition to continuous reporting on the main sustainability efforts in accordance with the guidelines of the Global Reporting Initiative (GRI), relevant key figures are also published on the website each year. By realigning its sustainability reporting, the Migros Group has responded to the wish of its stakeholders for the continuous and transparent communication of progress. Selected highlights from the reporting year are summarised in this annual report.
Determination of the relevant issues
As part of the development of the new strategic framework for sustainability, the Migros Group carried out a materiality analysis in 2019 together with external experts. During this process, the sustainability-relevant spheres of activity of the Migros companies were analysed in terms of their impact on society and the environment, as well as with regard to stakeholder expectations. The United Nations Sustainable Development Goals (SDGs) were also taken into account in the selection of spheres of activity.
The effect of a topic on society and the environment was determined by means of an impact assessment. This involved analysing the potential extent (e.g. the number of people or ecosystems affected) and the magnitude of the effects (e.g. reversible versus irreversible). All strategic business units (SBUs) of the Migros Group and their associated stages of value creation were taken into account in the analysis.
To identify stakeholder expectations, Migros identified and weighted the most important stakeholders for each SBU. It subsequently determined the expectations of the individual stakeholder groups. In addition, market research was conducted to identify customer expectations.
The combination of the two aspects in a matrix illustrates the most relevant topics for the Migros Group. In line with the GRI guidelines, the reporting focuses on those spheres of activity that have a significant impact on the environment and society, and where stakeholder expectations are high.
Reporting limits
The details relate to the whole Migros Group, unless specified otherwise. The Products and Environment section focuses on the strategic business units Cooperative Retailing (core business) and Migros-Industry.
