Six environmental objectives of the EU Taxonomy
Climate change mitigation
Climate change adaptation
Sustainable use of water and marine resources
Circular economy
Pollution prevention and control
Protection and restoration of ecosystems
For the first two objectives of the EU Taxonomy relating to climate change, a given activity is eligible for the EU Taxonomy if it is already low carbon (based on its “own performance”), if it contributes to reaching a net zero emissions target by 2050 (“transitional activity”), or if it enables other activities to reduce their CO2 emissions (“enabling activity”). In order to be aligned to the climate change mitigation objective, an activity must be eligible, meet the technical screening criteria, comply with the minimum safeguards stipulated in the regulation and not cause significant harm to any of the other five objectives. Meanwhile, only enabling activities can be aligned to the climate change adaptation objective.
The Group’s assessment to determine the alignment of its activities was based on a detailed analysis, taking into account existing processes, reporting systems and conservative management assumptions. The significant elements of this methodology assumptions and interpretations, methodological clarifications and limitations are described in the “Note on the methods used in workforce-related, social and environmental reporting”, pages 291 to 296.
The Group could eventually revise this methodology and the corresponding figures in line with regulatory changes, interpretations and advances in its EU Taxonomy reporting process.
3.1.2.1 Eligibility and alignment of VINCI’s revenue at 31 December 2023
At 31 December 2023, 41% of VINCI’s revenue was eligible for and 21% was aligned to the first two objectives of the EU Taxonomy. The analysis of the water, circular economy, pollution and biodiversity objectives identified additional eligible activities whose alignment will be examined in 2024, in line with the regulation. Two new activities contributing to the circular economy objective – 3.4 Maintenance of roads and motorways and 3.5 Use of concrete in civil engineering do not appear in the 41% of eligible Group revenue at 31 December 2023. In 2024, it will be possible to carry out a more granular analysis of these activities, which may make a material contribution of as much as 10% to the overall percentage of eligible Group revenue.
| EU Taxonomy activities (in € millions) | Objective(*) | Eligible revenue in 2023 | Eligible revenue in 2023 (%) | Aligned revenue in 2023 | Aligned revenue in 2023 (%) | Aligned revenue in 2022 (%) | Aligned revenue / Eligible revenue |
|---|---|---|---|---|---|---|---|
| 4.9 Transmission and distribution of electricity | 4.9 Transmission and distribution of electricity Objective(*)CCM |
4.9 Transmission and distribution of electricity Eligible revenue in 20235,592 |
4.9 Transmission and distribution of electricity Eligible revenue in 2023 (%)8% |
4.9 Transmission and distribution of electricity Aligned revenue in 20234,216 |
4.9 Transmission and distribution of electricity Aligned revenue in 2023 (%)6% |
4.9 Transmission and distribution of electricity Aligned revenue in 2022 (%)6% |
4.9 Transmission and distribution of electricity Aligned revenue / Eligible revenue75% |
| 6.14 Infrastructure for rail transport | 6.14 Infrastructure for rail transport Objective(*)CCM |
6.14 Infrastructure for rail transport Eligible revenue in 20234,896 |
6.14 Infrastructure for rail transport Eligible revenue in 2023 (%)7% |
6.14 Infrastructure for rail transport Aligned revenue in 20234,016 |
6.14 Infrastructure for rail transport Aligned revenue in 2023 (%)6% |
6.14 Infrastructure for rail transport Aligned revenue in 2022 (%)6% |
6.14 Infrastructure for rail transport Aligned revenue / Eligible revenue82% |
| 7.3 Installation, maintenance and repair of energy efficiency equipment | 7.3 Installation, maintenance and repair of energy efficiency equipment Objective(*)CCM |
7.3 Installation, maintenance and repair of energy efficiency equipment Eligible revenue in 20231,622 |
7.3 Installation, maintenance and repair of energy efficiency equipment Eligible revenue in 2023 (%)2% |
7.3 Installation, maintenance and repair of energy efficiency equipment Aligned revenue in 20231,610 |
7.3 Installation, maintenance and repair of energy efficiency equipment Aligned revenue in 2023 (%)2% |
7.3 Installation, maintenance and repair of energy efficiency equipment Aligned revenue in 2022 (%)3% |
7.3 Installation, maintenance and repair of energy efficiency equipment Aligned revenue / Eligible revenue99% |
| 7.1 Construction of new buildings | 7.1 Construction of new buildings Objective(*)CCM |
7.1 Construction of new buildings Eligible revenue in 20236,091 |
7.1 Construction of new buildings Eligible revenue in 2023 (%)9% |
7.1 Construction of new buildings Aligned revenue in 2023930 |
7.1 Construction of new buildings Aligned revenue in 2023 (%)1% |
7.1 Construction of new buildings Aligned revenue in 2022 (%)1% |
7.1 Construction of new buildings Aligned revenue / Eligible revenue15% |
| 4.1 Electricity generation using solar photovoltaic technology | 4.1 Electricity generation using solar photovoltaic technology Objective(*)CCM |
4.1 Electricity generation using solar photovoltaic technology Eligible revenue in 2023955 |
4.1 Electricity generation using solar photovoltaic technology Eligible revenue in 2023 (%)1% |
4.1 Electricity generation using solar photovoltaic technology Aligned revenue in 2023886 |
4.1 Electricity generation using solar photovoltaic technology Aligned revenue in 2023 (%)1% |
4.1 Electricity generation using solar photovoltaic technology Aligned revenue in 2022 (%)0% |
4.1 Electricity generation using solar photovoltaic technology Aligned revenue / Eligible revenue93% |
| 7.2 Renovation of existing buildings | 7.2 Renovation of existing buildings Objective(*)CCM |
7.2 Renovation of existing buildings Eligible revenue in 20232,209 |
7.2 Renovation of existing buildings Eligible revenue in 2023 (%)3% |
7.2 Renovation of existing buildings Aligned revenue in 2023620 |
7.2 Renovation of existing buildings Aligned revenue in 2023 (%)1% |
7.2 Renovation of existing buildings Aligned revenue in 2022 (%)0% |
7.2 Renovation of existing buildings Aligned revenue / Eligible revenue
|
| 5.9 Material recovery from non-hazardous waste | 5.9 Material recovery from non-hazardous waste Objective(*)CCM |
5.9 Material recovery from non-hazardous waste Eligible revenue in 20231,739 |
5.9 Material recovery from non-hazardous waste Eligible revenue in 2023 (%)3% |
5.9 Material recovery from non-hazardous waste Aligned revenue in 2023566 |
5.9 Material recovery from non-hazardous waste Aligned revenue in 2023 (%)1% |
5.9 Material recovery from non-hazardous waste Aligned revenue in 2022 (%)1% |
5.9 Material recovery from non-hazardous waste Aligned revenue / Eligible revenue33% |
| 4.28 Electricity generation from nuclear energy in existing installations | 4.28 Electricity generation from nuclear energy in existing installations Objective(*)CCM |
4.28 Electricity generation from nuclear energy in existing installations Eligible revenue in 2023510 |
4.28 Electricity generation from nuclear energy in existing installations Eligible revenue in 2023 (%)1% |
4.28 Electricity generation from nuclear energy in existing installations Aligned revenue in 2023345 |
4.28 Electricity generation from nuclear energy in existing installations Aligned revenue in 2023 (%)1% |
4.28 Electricity generation from nuclear energy in existing installations Aligned revenue in 2022 (%)1% |
4.28 Electricity generation from nuclear energy in existing installations Aligned revenue / Eligible revenue68% |
| 4.3 Electricity generation from wind power | 4.3 Electricity generation from wind power Objective(*)CCM |
4.3 Electricity generation from wind power Eligible revenue in 2023263 |
4.3 Electricity generation from wind power Eligible revenue in 2023 (%)0% |
4.3 Electricity generation from wind power Aligned revenue in 2023263 |
4.3 Electricity generation from wind power Aligned revenue in 2023 (%)0% |
4.3 Electricity generation from wind power Aligned revenue in 2022 (%)0% |
4.3 Electricity generation from wind power Aligned revenue / Eligible revenue100% |
| 7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings | 7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Objective(*)CCM |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Eligible revenue in 2023292 |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Eligible revenue in 2023 (%)0% |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Aligned revenue in 2023199 |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Aligned revenue in 2023 (%)0% |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Aligned revenue in 2022 (%)0% |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Aligned revenue / Eligible revenue68% |
| 9.3 Professional services related to energy performance of buildings | 9.3 Professional services related to energy performance of buildings Objective(*)CCM |
9.3 Professional services related to energy performance of buildings Eligible revenue in 2023172 |
9.3 Professional services related to energy performance of buildings Eligible revenue in 2023 (%)0% |
9.3 Professional services related to energy performance of buildings Aligned revenue in 2023172 |
9.3 Professional services related to energy performance of buildings Aligned revenue in 2023 (%)0% |
9.3 Professional services related to energy performance of buildings Aligned revenue in 2022 (%)0% |
9.3 Professional services related to energy performance of buildings Aligned revenue / Eligible revenue100% |
| 14.2 Flood risk prevention and protection infrastructure | 14.2 Flood risk prevention and protection infrastructure Objective(*)CCA |
14.2 Flood risk prevention and protection infrastructure Eligible revenue in 2023152 |
14.2 Flood risk prevention and protection infrastructure Eligible revenue in 2023 (%)0% |
14.2 Flood risk prevention and protection infrastructure Aligned revenue in 20230 |
14.2 Flood risk prevention and protection infrastructure Aligned revenue in 2023 (%)0% |
14.2 Flood risk prevention and protection infrastructure Aligned revenue in 2022 (%)0% |
14.2 Flood risk prevention and protection infrastructure Aligned revenue / Eligible revenue0% |
| Other eligible activities | Other eligible activities Objective(*)CCM |
Other eligible activities Eligible revenue in 20233,200 |
Other eligible activities Eligible revenue in 2023 (%)5% |
Other eligible activities Aligned revenue in 2023590 |
Other eligible activities Aligned revenue in 2023 (%)1% |
Other eligible activities Aligned revenue in 2022 (%)2% |
Other eligible activities Aligned revenue / Eligible revenue18% |
| Taxonomy-eligible activities – Climate change objectives | Taxonomy-eligible activities – Climate change objectivesObjective(*)
|
Taxonomy-eligible activities – Climate change objectivesEligible revenue in 202327,694 | Taxonomy-eligible activities – Climate change objectivesEligible revenue in 2023 (%)41% | Taxonomy-eligible activities – Climate change objectivesAligned revenue in 202314,412 | Taxonomy-eligible activities – Climate change objectivesAligned revenue in 2023 (%)21% | Taxonomy-eligible activities – Climate change objectivesAligned revenue in 2022 (%)20% | Taxonomy-eligible activities – Climate change objectivesAligned revenue / Eligible revenue52% |
| 3.3 Demolition and wrecking of buildings and other structures | 3.3 Demolition and wrecking of buildings and other structures Objective(*)CE |
3.3 Demolition and wrecking of buildings and other structures Eligible revenue in 2023111 |
3.3 Demolition and wrecking of buildings and other structures Eligible revenue in 2023 (%)0% |
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| 2.3 Remediation of legally non-conforming landfills and abandoned or illegal waste dumps | 2.3 Remediation of legally non-conforming landfills and abandoned or illegal waste dumps Objective(*)CE |
2.3 Remediation of legally non-conforming landfills and abandoned or illegal waste dumps Eligible revenue in 202371 |
2.3 Remediation of legally non-conforming landfills and abandoned or illegal waste dumps Eligible revenue in 2023 (%)0% |
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| 1.1 Manufacture, installation and associated services for leakage control technologies enabling leakage reduction and prevention in water supply systems | 1.1 Manufacture, installation and associated services for leakage control technologies enabling leakage reduction and prevention in water supply systems Objective(*)WTR |
1.1 Manufacture, installation and associated services for leakage control technologies enabling leakage reduction and prevention in water supply systems Eligible revenue in 202312 |
1.1 Manufacture, installation and associated services for leakage control technologies enabling leakage reduction and prevention in water supply systems Eligible revenue in 2023 (%)0% |
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| 1.1 Conservation, including restoration, of habitats, ecosystems and species | 1.1 Conservation, including restoration, of habitats, ecosystems and species Objective(*)BIO |
1.1 Conservation, including restoration, of habitats, ecosystems and species Eligible revenue in 20235 |
1.1 Conservation, including restoration, of habitats, ecosystems and species Eligible revenue in 2023 (%)0% |
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| Taxonomy-eligible activities – Other objectives | Taxonomy-eligible activities – Other objectivesObjective(*)
|
Taxonomy-eligible activities – Other objectivesEligible revenue in 2023200 | Taxonomy-eligible activities – Other objectivesEligible revenue in 2023 (%)0% | ||||
| Total eligible activities | Total eligible activitiesObjective(*)
|
Total eligible activitiesEligible revenue in 202327,893 | Total eligible activitiesEligible revenue in 2023 (%)41% | Total eligible activitiesAligned revenue in 202314,412 | Total eligible activitiesAligned revenue in 2023 (%)21% | Total eligible activitiesAligned revenue in 2022 (%)
|
Total eligible activitiesAligned revenue / Eligible revenue
|
| Non-eligible activities | Non-eligible activities Objective(*)
|
Non-eligible activities Eligible revenue in 202340,945 |
Non-eligible activities Eligible revenue in 2023 (%)59% |
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| Total VINCI consolidated revenue | Total VINCI consolidated revenueObjective(*)
|
Total VINCI consolidated revenueEligible revenue in 202368,838 | Total VINCI consolidated revenueEligible revenue in 2023 (%)100% |
(*) Objectives: climate change mitigation (CCM), climate change adaptation (CCA), water and marine resources (WTR), circular economy (CE), and biodiversity and ecosystems (BIO).