Circular economy objective
Activity 3.4: this CapEx corresponds to the maintenance of roads and roadways by Cobra IS in Spain.
These activities accounted for 92% of VINCI’s aligned investments at 31 December 2024.
Non-aligned activities
Non-eligible CapEx includes more than €100 million relating to the purchase of electric vehicles, classified under activity 6.5. This activity is considered non-aligned as compliance with one of the DNSH criteria could not be demonstrated. The Group did not make any significant investments involving coal, and 2% of VINCI’s total CapEx relates to activities involving oil or gas.
Activities contributing to multiple objectives
When an activity was eligible for multiple objectives, its alignment potential was reviewed for each of them, and the activity was included only under the most relevant objective. For example, the construction of new buildings was classified as contributing to the climate change mitigation objective under 7.1 but could have come under 3.1 as contributing to the circular economy objective or 7.1 as contributing to the climate change adaptation objective.
The table below breaks down the eligibility and alignment of Group CapEx by environmental objective for an overall perspective:
| Percentage of CapEx / Total CapEx | ||
|---|---|---|
| Aligned by objective | Eligible by objective | |
| Climate change mitigation | 12% | 22% |
| Climate change adaptation | 0% | 0% |
| Sustainable use and protection of water and marine resources | 0% | 0% |
| Circular economy | 0% | 3% |
| Pollution prevention and control | 0% | 0% |
| Protection and restoration of biodiversity and ecosystems | 0% | 0% |
The Group’s Taxonomy-eligible and Taxonomy-aligned CapEx is broken down by activity in the regulatory format on pages 421 to 422 (EU Taxonomy reporting tables supplementing this Report of the Board of Directors).
OpEx as defined in the Taxonomy Regulation amounted to €3,246 million at 31 December 2024, i.e. 5% of the Group’s total OpEx, which is not representative of its business model. Accordingly, the Group opted to use the materiality exemption set out in paragraph 1.1.3.2 of Annex I of Commission Delegated Regulation (EU) 2020/852 of July 2021. The Group’s OpEx denominator is presented in the regulatory format on page 423 (EU Taxonomy reporting tables supplementing this Report of the Board of Directors).
In order to deliver on its environmental ambition, VINCI needs both strategic vision and high engagement in environmental issues from all its employees. The rollout of training and awareness actions within all Group activities reflects efforts to share best practices and pass knowledge on to others at every level.
2024 Environment Day and 2024 Environment Awards
VINCI’s 2024 Environment Day provided the opportunity for each manager to sit down with their team members and discuss the initiatives taken within their business line to meet the targets of the environmental ambition. The day also provided an opportunity to spread information about the voting phase for the Environment Awards, a Group-wide contest opened in January 2024. This call for projects is a way to empower employees to play an active role in achieving the Group’s environmental targets. It identifies and promotes local environmental initiatives, engaging employees in 17 geographical areas and garnering more than 10,000 votes. In keeping with its decentralised approach, VINCI set up a steering committee for the contest, made up of one coordinator and one moderator per region, and formed a network of 300 correspondents and 250 experts who coordinate the event in the 17 geographical areas. A total of 168 initiatives were recognised in the various regions, and 12 won awards in the final round for the 2024 edition. The winners include projects aiming to directly reduce the environmental impact of Group operations, as well as solutions for customers in the areas of climate change adaptation, reuse, innovative materials, land rehabilitation and water resource management. The Grand Prize was awarded to the Revilo® urban planning solution, which aims to bring a response to the challenges of creating cool islands in built-up areas.
In 2025, the Group will continue to roll out the winning initiatives from the Environment Awards on a larger scale, to maximise their environmental and economic impact, through the Scale Up! programme.
Communities
Created by the Group’s Environment Department in 2018, Ecowork is a community of more than 500 employees from different divisions and business lines who want to implement environmental actions in their professional life. The Environment Department works with the organisation Makesense to coordinate the community’s activity, which includes training courses, discussions, meetings and tools to increase engagement and raise awareness about environmental issues. Historically based in France, this community has expanded outside the country. A first cohort in Germany was launched in December 2024, and there are two groups in the United Kingdom.
