2021 UNIVERSAL REGISTRATION DOCUMENT

3.1.1.3 Environmental reporting coverage and scope

To monitor VINCI’s environmental performance, the environmental reporting system uses the same software as the Group’s financial and workforce-related reporting systems and is based on the standards of the Global Reporting Initiative’s Sustainability Reporting Guidelines, which have been applied to the Group’s activities (see the cross-reference table, pages 375 to 376), as well as the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) (see the cross-reference table, page 377), and the Sustainability Accounting Standards Board (SASB) (see the cross-reference table, page 378). Covering nearly all of the Group’s companies, the system uses around 60 quantitative indicators for measuring performance against key environmental parameters, such as greenhouse gas emissions, consumption of resources, circular economy initiatives, environmental certification and environmental incidents. Environmental reporting is prepared using updated methodological guidebooks and procedures that are available on the Group’s intranet. In addition to this central reporting system, each business line uses its own management indicators. Section 5 of this chapter, “Note on the methods used in workforce-related, social and environmental reporting”, pages 258 to 262, covers the key points.

VINCI has submitted its environmental information for review by its Statutory Auditors since 2002. Environmental data is presented in compliance with Article 225 of France’s Grenelle II Environment Act and additional provisions set forth mainly in application of the law on the energy transition for green growth (Article 173) and the law on combating food waste. It also meets the requirements of Order 2017-1180 of 19 July 2017 and Decree 2017-1265 of 9 August 2017, which transposed the European directive on disclosure of non-financial information by certain large undertakings and groups into French law.

The environmental reporting scope is the same as for the financial reporting scope, with some exceptions (see “Note on the methods used in workforce-related, social and environmental reporting”, pages 258 to 262). At the end of 2021, environmental reporting covered 99% of total revenue generated.

Environmental reporting coverage, excluding acquisitions in 2021

3.1.2 Assessment of market opportunities

3.1.2.1 EU Taxonomy of environmentally sustainable activities

Building on the European Commission’s action plan on financing sustainable growth launched in 2018, Regulation (EU) 2020/852 of 18 June 2020, known as the Taxonomy Regulation, establishes a framework to facilitate sustainable investment with the aim of creating a “green list” of environmentally sustainable economic activities. To comply with this regulation, the Group is required to disclose, starting with its reporting for the 2021 financial year, the share of its business operations aligned with the EU Taxonomy – revenue, capital expenditure (CapEx) and operating expenditure (OpEx) – for the first two environmental objectives, climate change mitigation and climate change adaptation.

To qualify as sustainable, an activity must contribute substantially to one of the six environmental objectives shown below, “do no significant harm” to the other five objectives (DNSH principle) and meet minimum social safeguards. The Taxonomy Regulation has been supplemented by two delegated acts. The first, approved in April 2021, lays down the technical screening criteria for the first two objectives. The second, approved in July 2021, specifies the content, methodology and presentation of information.

Six environmental objectives of the EU Taxonomy

                   Objectives in 2021