In 2024, VINCI Immobilier reached the highest level of maturity for its NF Habitat-certified management system, with 100% of its residential property development activity having achieved NF Habitat certification and at least 25% of residential programmes awarded NF Habitat HQE™ certification. Other than NF Habitat HQE™, most of the certifications and labels awarded to VINCI in 2024 were BREEAM®, LEED®, BEPOS-Effinergie® or E+C–. Key projects under way in 2024 include the Edenn office complex of more than 30,000 sq. metres in Nanterre, which is targeting the most stringent environmental standards, such as NF HQE™, BREEAM®, OsmoZ, E+C–, BBCA and BiodiverCity®, and showcases VINCI Immobilier’s expertise in using mixed construction techniques. The design-build project for the new 80-bed Lavelanet hospital with radiology rooms and physician’s offices, is aiming for E+C– (Energy 3 and Carbon 1) certification.
Several projects also received awards in 2024 for their environmental management. The project to build the City Rail Link tunnel in Auckland (New Zealand) earned the highest rating from the Infrastructure Sustainability Council. As part of the HS2 railway programme in the United Kingdom, the Old Oak Common station project was recognised by the Green Apple Awards, which promote environmental best practices around the world.
Several internal labels have also been developed at the initiative of VINCI Construction companies. These labels are awarded to candidate worksites based on an internal audit to ensure that the Group’s environmental commitments are effectively taken into account, to challenge teams and to provide a guarantee for customers. The Attitude Environnement label created by VINCI Construction’s Building France and Civil Engineering France divisions in 2012 contains a new set of standards comprising 44 environmental requirements, and was awarded to 226 worksites in 2024, amounting to revenue of about €2 billion. The Excellence Environnement label created by VINCI Construction’s Road France Division in 2016 was awarded to 51 worksites in 2024, including the project to redevelop Place du Général Goiran in Nice into an urban cool island. Lastly, the Green is Great label, new in 2024, was awarded to 10 worksites.
VINCI plays a central role in the energy and environmental transition, through its businesses in road, air and rail transport infrastructure construction and operation, urban development, water treatment, as well as the construction and maintenance of buildings and low-carbon energy supply infrastructure. It is essential for the Group to fully understand and anticipate the risks and opportunities brought by climate change, in order to ensure the sustainability of its businesses and maintain its leadership. While working to reduce the climate impact of its operations, VINCI also develops innovative solutions to tackle the challenges of the environmental transition and benefit its customers.
As the transport infrastructure and construction sectors in which VINCI operates account for more than 30% of annual greenhouse gas emissions (according to Working Group III’s contribution to the IPCC’s Sixth Assessment Report, “Mitigation of Climate Change” in 2022), it follows that the Group’s impact on climate change is material. Using several scenarios, such as the IPCC’s SSP1-2.6 and Ademe’s “Génération frugale”, VINCI has identified the material impacts, risks and opportunities of climate change mitigation and, in particular, has determined which of its activities could be significantly impacted if more stringent carbon regulations were implemented. An in-depth study was also conducted internally on specific risks for the transport infrastructure, construction and energy sectors to 2050. All of the Group’s emissions, covering all businesses and scopes, were taken into consideration in analysing the related impacts. These emissions are presented in detail in paragraph 2.2.3.2, “GHG emissions”, page 203.
An examination of the political, legal, technological, market and reputation risks listed by the Task Force on Climate-related Financial Disclosures (TCFD) revealed that VINCI could be exposed to two material transition risks (see table below).
It also appears that building renovation, which already accounts for a large share of VINCI’s activities (3% of VINCI’s revenue in 2024), could benefit from government incentives. In addition to leading renovation projects, VINCI has also implemented innovative solutions to support thermal building renovation.
| Material impacts, risks and opportunities | Businesses concerned | Position in the value chain and on the time horizon | Stakeholders concerned |
|---|---|---|---|
| Increase in CO2 emissions | |||
|
Negative impact: contribution to the increase in CO2 emissions Contribution to the extinction of ecosystems and the depletion of resources |
Negative impact: contribution to the increase in CO2 emissions Contribution to the extinction of ecosystems and the depletion of resources Businesses concerned All |
Negative impact: contribution to the increase in CO2 emissions Contribution to the extinction of ecosystems and the depletion of resources Position in the value chain and on the time horizon Downstream Long term |
Negative impact: contribution to the increase in CO2 emissions Contribution to the extinction of ecosystems and the depletion of resources Stakeholders concerned Local communities and residents Nature and biodiversity Media |
| Market uncertainties related to the transition | |||
|
Transition risk: loss of revenue Loss of revenue in markets that contribute significantly to greenhouse gas emissions and could shrink as a result of more stringent regulations (construction of new buildings, motorway traffic, air travel, etc.) |
Transition risk: loss of revenue Loss of revenue in markets that contribute significantly to greenhouse gas emissions and could shrink as a result of more stringent regulations (construction of new buildings, motorway traffic, air travel, etc.) Businesses concerned All |
Transition risk: loss of revenue Loss of revenue in markets that contribute significantly to greenhouse gas emissions and could shrink as a result of more stringent regulations (construction of new buildings, motorway traffic, air travel, etc.) Position in the value chain and on the time horizon Own activities Medium term |
Transition risk: loss of revenue Loss of revenue in markets that contribute significantly to greenhouse gas emissions and could shrink as a result of more stringent regulations (construction of new buildings, motorway traffic, air travel, etc.) Stakeholders concerned Employees, subcontractors, temporary staff Subcontractors Customers Public authorities Local communities and residents Investors and lenders |
|
Transition risk: additional costs Increase in costs (OpEx) resulting from the implementation of carbon pricing tools (carbon tax, carbon border adjustment mechanism, etc.) |
Transition risk: additional costs Increase in costs (OpEx) resulting from the implementation of carbon pricing tools (carbon tax, carbon border adjustment mechanism, etc.) Businesses concerned All |
Transition risk: additional costs Increase in costs (OpEx) resulting from the implementation of carbon pricing tools (carbon tax, carbon border adjustment mechanism, etc.) Position in the value chain and on the time horizon Upstream Medium term |
Transition risk: additional costs Increase in costs (OpEx) resulting from the implementation of carbon pricing tools (carbon tax, carbon border adjustment mechanism, etc.) Stakeholders concerned Investors and lenders Customers Suppliers Subcontractors Public authorities |
| Accelerating energy renovation | |||
|
Opportunity: energy renovation acceleration Increase in revenue from the growth of the energy renovation market and other low-carbon services |
Opportunity: energy renovation acceleration Increase in revenue from the growth of the energy renovation market and other low-carbon services Businesses concerned VINCI Construction VINCI Energies Cobra IS |
Opportunity: energy renovation acceleration Increase in revenue from the growth of the energy renovation market and other low-carbon services Position in the value chain and on the time horizon Own activities Short term |
Opportunity: energy renovation acceleration Increase in revenue from the growth of the energy renovation market and other low-carbon services Stakeholders concerned Employees, subcontractors, temporary staff Subcontractors Public authorities Customers Local communities and residents Investors |
