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.
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 paragraph 5.3.4, ”EU Taxonomy KPIs”, of the methodology note, page 275.
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. To date, VINCI has not established a CapEx plan to increase the percentage of its Taxonomy-aligned revenue.
At 31 December 2024, 41% of VINCI’s revenue was eligible for and 22% was aligned to the six objectives of the EU Taxonomy.
| EU Taxonomy activities (in € millions) | Objective (*) | Eligible revenue in 2024 | Eligible revenue in 2024 (%) | Eligible revenue in 2023 | Eligible revenue in 2023 (%) | Aligned revenue in 2024 | Aligned revenue in 2024 (%) | Aligned revenue in 2023 | Aligned revenue in 2023 (%) |
|---|---|---|---|---|---|---|---|---|---|
| 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 2024 5,758 |
4.9 Transmission and distribution of electricity Eligible revenue in 2024 (%) 8 % |
4.9 Transmission and distribution of electricity Eligible revenue in 2023 5,592 |
4.9 Transmission and distribution of electricity Eligible revenue in 2023 (%) 8 % |
4.9 Transmission and distribution of electricity Aligned revenue in 2024 4,123 |
4.9 Transmission and distribution of electricity Aligned revenue in 2024 (%) 6 % |
4.9 Transmission and distribution of electricity Aligned revenue in 2023 4,216 |
4.9 Transmission and distribution of electricity Aligned revenue in 2023 (%) 6 % |
| 6.14 Infrastructure for rail transport | 6.14 Infrastructure for rail transport Objective (*)CCM |
6.14 Infrastructure for rail transport Eligible revenue in 2024 4,965 |
6.14 Infrastructure for rail transport Eligible revenue in 2024 (%) 7 % |
6.14 Infrastructure for rail transport Eligible revenue in 2023 4,896 |
6.14 Infrastructure for rail transport Eligible revenue in 2023 (%) 7 % |
6.14 Infrastructure for rail transport Aligned revenue in 2024 3,922 |
6.14 Infrastructure for rail transport Aligned revenue in 2024 (%) 5 % |
6.14 Infrastructure for rail transport Aligned revenue in 2023 4,016 |
6.14 Infrastructure for rail transport Aligned revenue in 2023 (%) 6 % |
| 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 2024 1,569 |
7.3 Installation, maintenance and repair of energy efficiency equipment Eligible revenue in 2024 (%) 2 % |
7.3 Installation, maintenance and repair of energy efficiency equipment Eligible revenue in 2023 1,622 |
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 2024 1,528 |
7.3 Installation, maintenance and repair of energy efficiency equipment Aligned revenue in 2024 (%) 2 % |
7.3 Installation, maintenance and repair of energy efficiency equipment Aligned revenue in 2023 1,610 |
7.3 Installation, maintenance and repair of energy efficiency equipment Aligned revenue in 2023 (%) 2 % |
| 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 2024 1,211 |
4.1 Electricity generation using solar photovoltaic technology Eligible revenue in 2024 (%) 2 % |
4.1 Electricity generation using solar photovoltaic technology Eligible revenue in 2023 955 |
4.1 Electricity generation using solar photovoltaic technology Eligible revenue in 2023 (%) 1 % |
4.1 Electricity generation using solar photovoltaic technology Aligned revenue in 2024 1,152 |
4.1 Electricity generation using solar photovoltaic technology Aligned revenue in 2024 (%) 2 % |
4.1 Electricity generation using solar photovoltaic technology Aligned revenue in 2023 886 |
4.1 Electricity generation using solar photovoltaic technology Aligned revenue in 2023 (%) 1 % |
| 7.1 Construction of new buildings | 7.1 Construction of new buildings Objective (*)CCM |
7.1 Construction of new buildings Eligible revenue in 2024 6,304 |
7.1 Construction of new buildings Eligible revenue in 2024 (%) 9 % |
7.1 Construction of new buildings Eligible revenue in 2023 6,091 |
7.1 Construction of new buildings Eligible revenue in 2023 (%) 9 % |
7.1 Construction of new buildings Aligned revenue in 2024 789 |
7.1 Construction of new buildings Aligned revenue in 2024 (%) 1 % |
7.1 Construction of new buildings Aligned revenue in 2023 930 |
7.1 Construction of new buildings Aligned revenue in 2023 (%) 1 % |
| 7.2 Renovation of existing buildings | 7.2 Renovation of existing buildings Objective (*)CCM |
7.2 Renovation of existing buildings Eligible revenue in 2024 2,425 |
7.2 Renovation of existing buildings Eligible revenue in 2024 (%) 3 % |
7.2 Renovation of existing buildings Eligible revenue in 2023 2,209 |
7.2 Renovation of existing buildings Eligible revenue in 2023 (%) 3 % |
7.2 Renovation of existing buildings Aligned revenue in 2024 890 |
7.2 Renovation of existing buildings Aligned revenue in 2024 (%) 1 % |
7.2 Renovation of existing buildings Aligned revenue in 2023 620 |
7.2 Renovation of existing buildings Aligned revenue in 2023 (%) 1 % |
| 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 2024 574 |
4.3 Electricity generation from wind power Eligible revenue in 2024 (%) 1 % |
4.3 Electricity generation from wind power Eligible revenue in 2023 263 |
4.3 Electricity generation from wind power Eligible revenue in 2023 (%) 0 % |
4.3 Electricity generation from wind power Aligned revenue in 2024 568 |
4.3 Electricity generation from wind power Aligned revenue in 2024 (%) 1 % |
4.3 Electricity generation from wind power Aligned revenue in 2023 263 |
4.3 Electricity generation from wind power Aligned revenue in 2023 (%) 0 % |
| 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 2024 564 |
4.28 Electricity generation from nuclear energy in existing installations Eligible revenue in 2024 (%) 1 % |
4.28 Electricity generation from nuclear energy in existing installations Eligible revenue in 2023 510 |
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 2024 457 |
4.28 Electricity generation from nuclear energy in existing installations Aligned revenue in 2024 (%) 1 % |
4.28 Electricity generation from nuclear energy in existing installations Aligned revenue in 2023 345 |
4.28 Electricity generation from nuclear energy in existing installations Aligned revenue in 2023 (%) 1 % |
| 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 2024 834 |
5.9 Material recovery from non-hazardous waste Eligible revenue in 2024 (%) 1 % |
5.9 Material recovery from non-hazardous waste Eligible revenue in 2023 1,739 |
5.9 Material recovery from non-hazardous waste Eligible revenue in 2023 (%) 3 % |
5.9 Material recovery from non-hazardous waste Aligned revenue in 2024 309 |
5.9 Material recovery from non-hazardous waste Aligned revenue in 2024 (%) 0 % |
5.9 Material recovery from non-hazardous waste Aligned revenue in 2023 566 |
5.9 Material recovery from non-hazardous waste Aligned revenue in 2023 (%) 1 % |
| 4.29 Electricity generation from fossil gaseous fuels | 4.29 Electricity generation from fossil gaseous fuels Objective (*)CCM |
4.29 Electricity generation from fossil gaseous fuels Eligible revenue in 2024 307 |
4.29 Electricity generation from fossil gaseous fuels Eligible revenue in 2024 (%) 0 % |
4.29 Electricity generation from fossil gaseous fuels Eligible revenue in 2023 0 |
4.29 Electricity generation from fossil gaseous fuels Eligible revenue in 2023 (%) 0 % |
4.29 Electricity generation from fossil gaseous fuels Aligned revenue in 2024 307 |
4.29 Electricity generation from fossil gaseous fuels Aligned revenue in 2024 (%) 0 % |
4.29 Electricity generation from fossil gaseous fuels Aligned revenue in 2023 0 |
4.29 Electricity generation from fossil gaseous fuels Aligned revenue in 2023 (%) 0 % |
| 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 2024 296 |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Eligible revenue in 2024 (%) 0 % |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Eligible revenue in 2023 292 |
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 2024 294 |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Aligned revenue in 2024 (%) 0 % |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Aligned revenue in 2023 199 |
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Aligned revenue in 2023 (%) 0 % |
| 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 2024 200 |
9.3. Professional services related to energy performance of buildings Eligible revenue in 2024 (%) 0 % |
9.3. Professional services related to energy performance of buildings Eligible revenue in 2023 172 |
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 2024 200 |
9.3. Professional services related to energy performance of buildings Aligned revenue in 2024 (%) 0 % |
9.3. Professional services related to energy performance of buildings Aligned revenue in 2023 172 |
9.3. Professional services related to energy performance of buildings Aligned revenue in 2023 (%) 0 % |
| 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 2024 118 |
14.2 Flood risk prevention and protection infrastructure Eligible revenue in 2024 (%) 0 % |
14.2 Flood risk prevention and protection infrastructure Eligible revenue in 2023 152 |
14.2 Flood risk prevention and protection infrastructure Eligible revenue in 2023 (%) 0 % |
14.2 Flood risk prevention and protection infrastructure Aligned revenue in 2024 106 |
14.2 Flood risk prevention and protection infrastructure Aligned revenue in 2024 (%) 0 % |
14.2 Flood risk prevention and protection infrastructure Aligned revenue in 2023 0 |
14.2 Flood risk prevention and protection infrastructure Aligned revenue in 2023 (%) 0 % |
| Other eligible activities | Other eligible activities Objective (*)CCM |
Other eligible activities Eligible revenue in 2024 3,093 |
Other eligible activities Eligible revenue in 2024 (%) 4 % |
Other eligible activities Eligible revenue in 2023 3,199 |
Other eligible activities Eligible revenue in 2023 (%) 5 % |
Other eligible activities Aligned revenue in 2024 780 |
Other eligible activities Aligned revenue in 2024 (%) 1 % |
Other eligible activities Aligned revenue in 2023 590 |
Other eligible activities Aligned revenue in 2023 (%) 1 % |
| Taxonomy-eligible activities – Climate change objectives | Taxonomy-eligible activities – Climate change objectivesObjective (*)
|
Taxonomy-eligible activities – Climate change objectives Eligible revenue in 2024 28,218 |
Taxonomy-eligible activities – Climate change objectives Eligible revenue in 2024 (%) 39% |
Taxonomy-eligible activities – Climate change objectives Eligible revenue in 2023 27,693 |
Taxonomy-eligible activities – Climate change objectives Eligible revenue in 2023 (%) 41% |
Taxonomy-eligible activities – Climate change objectives Aligned revenue in 2024 15,426 |
Taxonomy-eligible activities – Climate change objectives Aligned revenue in 2024 (%) 22% |
Taxonomy-eligible activities – Climate change objectives Aligned revenue in 2023 14,412 |
Taxonomy-eligible activities – Climate change objectives Aligned revenue in 2023 (%) 21% |
| 3.4 Maintenance of roads and motorways | 3.4 Maintenance of roads and motorways Objective (*)CE |
3.4 Maintenance of roads and motorways Eligible revenue in 2024 511 |
3.4 Maintenance of roads and motorways Eligible revenue in 2024 (%) 1% |
3.4 Maintenance of roads and motorways Eligible revenue in 2023 0 |
3.4 Maintenance of roads and motorways Eligible revenue in 2023 (%) 0% |
3.4 Maintenance of roads and motorways Aligned revenue in 2024 84 |
3.4 Maintenance of roads and motorways Aligned revenue in 2024 (%) 0% |
3.4 Maintenance of roads and motorways Aligned revenue in 2023
|
3.4 Maintenance of roads and motorways Aligned revenue in 2023 (%)
|
| 3.5 Use of concrete in civil engineering | 3.5 Use of concrete in civil engineering Objective (*)CE |
3.5 Use of concrete in civil engineering Eligible revenue in 2024 293 |
3.5 Use of concrete in civil engineering Eligible revenue in 2024 (%) 0% |
3.5 Use of concrete in civil engineering Eligible revenue in 2023 0 |
3.5 Use of concrete in civil engineering Eligible revenue in 2023 (%) 0% |
3.5 Use of concrete in civil engineering Aligned revenue in 2024 0 |
3.5 Use of concrete in civil engineering Aligned revenue in 2024 (%) 0% |
3.5 Use of concrete in civil engineering Aligned revenue in 2023
|
3.5 Use of concrete in civil engineering Aligned revenue in 2023 (%)
|
| 2.2 Urban wastewater treatment | 2.2 Urban wastewater treatment Objective (*)WTR |
2.2 Urban wastewater treatment Eligible revenue in 2024 270 |
2.2 Urban wastewater treatment Eligible revenue in 2024 (%) 0% |
2.2 Urban wastewater treatment Eligible revenue in 2023 0 |
2.2 Urban wastewater treatment Eligible revenue in 2023 (%) 0% |
2.2 Urban wastewater treatment Aligned revenue in 2024 13 |
2.2 Urban wastewater treatment Aligned revenue in 2024 (%) 0% |
2.2 Urban wastewater treatment Aligned revenue in 2023
|
2.2 Urban wastewater treatment Aligned revenue in 2023 (%)
|
| 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 2024 140 |
3.3 Demolition and wrecking of buildings and other structures Eligible revenue in 2024 (%) 0% |
3.3 Demolition and wrecking of buildings and other structures Eligible revenue in 2023 111 |
3.3 Demolition and wrecking of buildings and other structures Eligible revenue in 2023 (%) 0% |
3.3 Demolition and wrecking of buildings and other structures Aligned revenue in 2024 0 |
3.3 Demolition and wrecking of buildings and other structures Aligned revenue in 2024 (%) 0% |
3.3 Demolition and wrecking of buildings and other structures Aligned revenue in 2023
|
3.3 Demolition and wrecking of buildings and other structures Aligned revenue in 2023 (%)
|
| 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 2024 19 |
1.1 Conservation, including restoration, of habitats, ecosystems and species Eligible revenue in 2024 (%) 0% |
1.1 Conservation, including restoration, of habitats, ecosystems and species Eligible revenue in 2023 12 |
1.1 Conservation, including restoration, of habitats, ecosystems and species Eligible revenue in 2023 (%) 0% |
1.1 Conservation, including restoration, of habitats, ecosystems and species Aligned revenue in 2024 0 |
1.1 Conservation, including restoration, of habitats, ecosystems and species Aligned revenue in 2024 (%) 0% |
1.1 Conservation, including restoration, of habitats, ecosystems and species Aligned revenue in 2023
|
1.1 Conservation, including restoration, of habitats, ecosystems and species Aligned revenue in 2023 (%)
|
| Other eligible activities | Other eligible activities Objective (*)
|
Other eligible activities Eligible revenue in 2024 13 |
Other eligible activities Eligible revenue in 2024 (%) 0% |
Other eligible activities Eligible revenue in 2023 77 |
Other eligible activities Eligible revenue in 2023 (%) 0% |
Other eligible activities Aligned revenue in 2024 0 |
Other eligible activities Aligned revenue in 2024 (%) 0% |
Other eligible activities Aligned revenue in 2023
|
Other eligible activities Aligned revenue in 2023 (%)
|
| Taxonomy-eligible activities – Other objectives | Taxonomy-eligible activities – Other objectivesObjective (*)
|
Taxonomy-eligible activities – Other objectives Eligible revenue in 2024 1,246 |
Taxonomy-eligible activities – Other objectives Eligible revenue in 2024 (%) 2% |
Taxonomy-eligible activities – Other objectives Eligible revenue in 2023 200 |
Taxonomy-eligible activities – Other objectives Eligible revenue in 2023 (%) 0% |
Taxonomy-eligible activities – Other objectives Aligned revenue in 2024 97 |
Taxonomy-eligible activities – Other objectives Aligned revenue in 2024 (%) 0% |
Taxonomy-eligible activities – Other objectives Aligned revenue in 2023
|
Taxonomy-eligible activities – Other objectives Aligned revenue in 2023 (%)
|
| Total eligible activities | Total eligible activitiesObjective (*)
|
Total eligible activities Eligible revenue in 2024 29,464 |
Total eligible activities Eligible revenue in 2024 (%) 41% |
Total eligible activities Eligible revenue in 2023 27,893 |
Total eligible activities Eligible revenue in 2023 (%) 41% |
Total eligible activities Aligned revenue in 2024 15,523 |
Total eligible activities Aligned revenue in 2024 (%) 22% |
Total eligible activities Aligned revenue in 2023 14,412 |
Total eligible activities Aligned revenue in 2023 (%) 21% |
| Non-eligible activities | Non-eligible activities Objective (*)
|
Non-eligible activities Eligible revenue in 2024 42,158 |
Non-eligible activities Eligible revenue in 2024 (%) 59% |
Non-eligible activities Eligible revenue in 2023 40,945 |
Non-eligible activities Eligible revenue in 2023 (%) 59% |
Non-eligible activities Aligned revenue in 2024
|
Non-eligible activities Aligned revenue in 2024 (%)
|
Non-eligible activities Aligned revenue in 2023
|
Non-eligible activities Aligned revenue in 2023 (%)
|
| Total VINCI consolidated revenue | Total VINCI consolidated revenueObjective (*)
|
Total VINCI consolidated revenue Eligible revenue in 2024 71,623 |
Total VINCI consolidated revenue Eligible revenue in 2024 (%) 100% |
Total VINCI consolidated revenue Eligible revenue in 2023 68,838 |
Total VINCI consolidated revenue Eligible revenue in 2023 (%) 100% |
Total VINCI consolidated revenue Aligned revenue in 2024
|
Total VINCI consolidated revenue Aligned revenue in 2024 (%)
|
Total VINCI consolidated revenue Aligned revenue in 2023
|
Total VINCI consolidated revenue Aligned revenue in 2023 (%)
|
Eligible activities
At 31 December 2024, the percentage of the Group’s Taxonomy-eligible revenue was stable relative to 2023, at 41%, despite changes for some activities. An in-depth analysis performed in 2024 identified three new contributing activities. These are activities 3.4 Maintenance of roads and roadways and 3.5 Use of concrete in civil engineering, both contributing to the circular economy objective, and 2.2 Urban wastewater treatment, contributing to the water and marine resources objective. Conversely, there was a decrease in eligible revenue from activity 5.9 Material recovery from non-hazardous waste, mainly due to increased revenue generated internally (intercompany transactions), which was eliminated for the purposes of Taxonomy reporting (see paragraph 5.3.4.1 “KPI definitions”, of the methodology note, page 275). Eligible and aligned revenue from activity 5.9 generated with Group companies nevertheless amounted to more than €800 million at 31 December 2024, or 1% of the Group’s consolidated revenue.
