Based on Grupo Nutresa‘s engagement model, it is a priority for the Organization to disclose its management of both risks and opportunities to its stakeholders by means of a transparent and timely information delivery, demonstrating the creation of value for the society.
This report includes the purposes, the main progress achievements in the implementation of the strategy and the outlook for the short, medium and long term. In this reporting exercise, it is worth highlighting the special emphasis put on how the Organization contributes to the fulfillment of the Sustainable Development Goals (SDGs) based on the six strategic priorities: Acting with integrity, Fostering profitable growth and effective innovation, Building a better society, Managing the value chain responsibly, Promoting a healthy lifestyle, and Reducing the environmental impact of the operations and products GRI 102-12.
Furthermore, this report includes the ninth communication on progress regarding the fulfillment of the ten principles established in the United Nations Global Compact and the fourth communication on progress to the CEO Water Mandate, which account for the initiatives related to water resource management.
This report has been prepared in accordance with the GRI Standards, comprehensive option. The food sector supplement of the GRI G4 guide was also used GRI 102-54 and it incorporates the principles and elements of the framework established by the International Integrated Reporting Council. Therefore, it covers 21 relevant topics from all the countries where Grupo Nutresa has significant operations, except for Venezuela, for which only the financial data and the number of employees were included GRI 103-1. For this report, the data of two GRI indicators were restated, GRI 201-1; because of a change in the methodology to calculate operating expenses and GRI 302-1 for which 2016 data were updated because it did not include refrigerant leaks, GRI 102-48 GRI 102-49 and it does not include information from the Retail Food Business related to reliable food, responsible sourcing, nutrition and healthy lifestyle.
The financial information of Grupo Nutresa and its subordinated companies is prepared in accordance with the International Financial Reporting Standards (IFRS) approved in Colombia and with all other legal provisions issued by the surveillance and control bodies. The companies follow the accounting practices and policies that the Parent Company has adopted, which for the subordinate companies located outside Colombia do not substantially differ from the accounting practices used in the countries of origin or their practices and policies have been standardized in the case of those that have a significant impact on the consolidated financial statements. All this information has been audited by PriceWaterhouseCoopers (PWC).
The non-financial information is verified by KPMG Advisory, Tax & Legal S.A.S. GRI 102-56, an independent auditing firm that abides by the guidelines of the ISAE 3000 international standard, whose report has concluded that the information is presented adequate way in accordance with the GRI Standards. Likewise, KPMG has conducted an analysis of the consistency between the information described in the chapter about the “Self-diagnosis” of the Incorporation of the Integrated Reporting Principles and Elements, which is available on the Report’s website.
For the sake of clarity and an easier reading experience, a specific leyend has been defined with the purpose of enabling a clear identification of the basic GRI contents in relation to each material topic and the Sustainable Development Goals with which they are connected.