2022 Universal Registration Document

• As part of its work to reduce noise pollution for local residents, VINCI Airports publishes information on flight paths and the results measured by its noise monitoring systems online. London Gatwick airport also publishes its air quality monitoring data in its Decade of Change sustainability report (http://bit.ly/3QIsjlr).
• A website was developed for VINCI Construction’s road and urban development worksites, to communicate more easily with people living near many of its worksites in France. For example, this tool was used for the periodic maintenance of the Grenoble tramway tracks, where VINCI Construction carried out road pavement demolition works, track replacement and resurfacing works. As such, the company took proactive steps to reduce the inconvenience for local residents through several concrete actions (noise-reducing tarps). The worksite was also signalled on Waze and through the website, enabling local residents and users to follow the progress of the works and ask any questions.

Other partnerships are mentioned in paragraphs 3.2, “Acting for the climate” (page 229), 3.3, “Optimising resources thanks to the circular economy” (page 240) and 3.4, “Preserving natural environments” (page 246).

3.2 Acting for the climate

Climate change is a reality: global temperatures have risen by more than 1°C compared with pre-industrial levels, leading to more frequent and more intense extreme weather events each year. According to the climate models published by the Intergovernmental Panel on Climate Change (IPCC) in relation to the SSP3-7.0, and SSP5-8.5 scenarios, current production and consumption practices could see temperatures rise by around 2.8°C to 5.7 °C by the end of this century, resulting in major and irreversible shifts that could affect all aspects of society. The IPCC’s Special Report on the impacts of global warming of 1.5°C above pre-industrial levels details the consequences for people and the planet, while its Sixth Assessment Report presents the most compelling evidence to date that human activities are causing climate change, and that adaptation and mitigation solutions are needed.

The transport infrastructure and construction sectors in which VINCI operates account for more than 50% of annual greenhouse gas emissions and are also significantly exposed to risks associated with climate change. Climate risk has been included in the Group’s risk analysis for several years (see paragraph 2.5, “Environmental risks”, of chapter D, “Risk factors and management procedures”, page 179). VINCI has also carried out in-depth analyses to better assess and manage climate-related risks relating to its activities (see paragraph 4.4.1, “Mapping of the Group’s major risks”, of the Group’s duty of vigilance plan, page 272).

Acting for the climate requires a transformation of the Group’s activities by optimising its energy consumption and promoting widespread use of renewables to reduce its dependence on fossil fuels. This also means rethinking the way its projects are conceived and designed so as to develop more resilient, low-carbon and energy-efficient buildings and infrastructure. In addition, new solutions need to be created that will transform mobility, housing and lifestyles to help its customers and end users reduce their carbon footprint. With this end in view, VINCI has made three fundamental commitments:

• reduce its direct greenhouse gas emissions (Scopes 1 and 2) by 40% by 2030 compared with 2018 levels;
• reduce its indirect emissions (Scope 3) by taking action across the value chain of the Group’s business lines, with a reduction target of 20% by 2030 compared with 2019 levels;
• adapt its infrastructure and activities to improve their climate resilience.

3.2.1 Reducing the Group’s direct emissions (Scopes 1 and 2)

Since 2007, VINCI has maintained a proactive approach to reducing and monitoring its greenhouse gas (GHG) emissions, in line with the “Accelerate the environmental transition” commitment from its Manifesto. When it adopted its new environmental ambition in 2020, VINCI further strengthened the Group’s targets, looking to align itself with the Paris Agreement. To set an example, the Group is therefore committed to achieving a 40% reduction in its direct GHG emissions (Scopes 1 and 2) by 2030 compared with 2018 levels. According to guidance from the Science Based Targets initiative (SBTi), this commitment makes the Group’s target setting strategy consistent with a reduction “well below 2°C”. In addition to this absolute value for its emissions reduction target, VINCI aims for ambitious reductions in emissions in its direct scope of business activities that will enable the Group to contribute to worldwide carbon neutrality by 2050.

Each of VINCI’s business lines has broken down and adapted this target in their environmental policies, adjusting it in line with their specific stakes. As a minimum, the business lines are aligned with the Group’s target of a 40% reduction in emissions for Scopes 1 and 2 (see “Overview of the main commitments by business line”, page 220). 2022 was a year of tight global gas and electricity supplies in France. To respond to this and seize the opportunity to step up its action to enhance energy efficiency, the Group accelerated the implementation of its energy efficiency plan. On 22 September 2022, VINCI signed the Ecowatt charter, undertaking to reduce its gas and electricity consumption by 15% in 2023 relative to 2021, for its offices, site facilities, airports and motorways. The Group has pledged to test energy performance initiatives, in real operating conditions, at 10 buildings representative of its activities.