Carrefour - 2017 Registration Document

MANAGEMENT’S DISCUSSION AND ANALYSIS AS OF DECEMBER 31, 2017 Risk management 2017 REGISTRATION DOCUMENT | CARREFOUR 4. 192 Risk management 4.7 In an uncertain, constantly changing environment, proactive risk This approach also enables the review of all processes within the management is an essential part of sustainable development for Company and the identification of opportunities and areas for the Company’s business, and is an aim shared by all employees. improvement. Identifying risks Addressing risks Managing incidence and crisis Reference framework Governance and accountability Analysing and assessing main risks The risk management system implemented by the Group is primarily based on identifying and accounting for principal risk factors and uncertainties which may have a material impact on its activities, financial position or image (4.7.1). For the past several years, the Group has been committed to a coordinated risk management policy based on the mapping of major risks, rules and the communication of best practices, with the implementation of a risk prevention and management system (4.7.2). As part of a regular analysis and review of insurable risks, the Group also implements solutions to transfer risks to the insurance market (4.7.3). To manage difficult situations that may significantly impact its activities, financial position or image, the Group has also developed a comprehensive crisis management system (4.7.4).