Our governance approach to the ESG issues reflected in this report is integrated with our approach to corporate governance and how we deliver on business strategy across our operations. This ensures we have the right combination of strong oversight and operational accountability. This work includes identifying, monitoring, and implementing initiatives to mitigate risk, deliver on commitments and report on key metrics and progress.
See an overview of our governance for ESG strategy, execution and factors.
Key Governance Bodies
Board of Directors
Responsibilities Include
- Overseeing the ethical, legal and social conduct of Empire
- Overseeing the development of corporate governance policies, principles and guidelines
- Developing and monitoring compliance with Empire’s Code of Business Conduct and Ethics for directors, officers and teammates, including ethics line reporting
- Overseeing stewardship of Empire, including the strategic planning process, approval of the strategic plan, identification of principal risks and implementation of systems to manage these risks
- Encouraging a culture of ethical conduct by appointing officers of high integrity and monitoring their performance
Corporate Governance & Social Responsibility Committee
Responsibilities Include
- Assisting the board in fulfilling its responsibilities as they relate to corporate governance and social responsibility
- Receiving and reviewing periodic reports on Empire’s policies, activities, and progress pertaining to social responsibility initiatives, including sustainability, as well as updates on regulatory and general market developments relating to such matters
Audit Committee
Responsibilities Include
- Assisting the board with oversight of policies and practices relating to integrity of financial and regulatory reporting and the enterprise risk management (ERM) framework and process
- Reviewing the applicable metrics and information contained in the Sustainable Business Report, including climate-related data
- Reviewing the status and adequacy of Empire’s efforts to ensure our businesses are conducted and facilities are operating in an ethical, legally compliant and socially responsible way
- Receiving quarterly reports on ethics line reporting matters
Human Resources Committee
Responsibilities Include
- Assisting the board in oversight of human resources strategy, policies and programs
- Monitoring, reviewing and providing guidance on people development initiatives including talent management and employment diversity
- Receiving reports on human resources related matters received through the ethics and DE&I reporting line
- Fulfilling the board’s responsibility for occupational health and safety
Executive Leadership Team; Operational Committee
Responsibilities Include
- Leading business and sustainability strategy development and review
- Overseeing leadership committees and operational teams responsible for implementing sustainability strategy
Sustainable Business
Council (new in 2024)
Responsibilities Include
- Building and driving accountability, including ensuring sustainability key performance indicators (KPIs) are integrated with functional teams
- Providing strategic direction on ESG activity and reporting
- Reviewing ESG performance
- Providing updates on corporate ESG-related commitments, reporting and emerging topics
- Aligning on ESG gaps and opportunities to address across functional teams
Code of Conduct and Policies
Our Code of Business Conduct and Ethics provides guidance to teammates and reaffirms our commitment to the highest possible personal and corporate standards of business conduct. Directors and teammates are required to acknowledge and agree to the code on a regular basis, and we maintain an anonymous and confidential whistleblowing hotline.
The policies that guide and govern our actions include:
Executive Compensation
Our executive compensation program is designed to attract, motivate and retain a highly skilled executive team, directly aligning compensation to personal and corporate performance objectives—including ESG-related areas. In fiscal 2024, we continued to use DE&I KPIs to build broad leadership accountability for DE&I across all teams and banners. For leaders and teammates eligible for our profit-sharing plan, we use KPIs in support of our Climate Action Plan targets and other key sustainability commitments, such as food and plastic waste reduction.
Enterprise Risk Management
As part of our Enterprise Risk Management process, every year we identify, assess, manage and report on key risks to the organization and our objectives. These risks are reported in Empire’s Annual Report, the Q4 F24 MD&A and F24 Annual Information Form.
Climate Risk
We recognize the potential adverse impact that climate change poses to our business. To better understand this impact, we have undertaken a comprehensive analysis, following the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and in alignment with IFRS S2 standards. To learn more about our approach, please see our Climate Action section and read our TCFD-Aligned Report.
