VINCI has identified energy-related risks based on discussions with its purchasing and energy experts and forward-looking scenarios including hypothetical energy price hikes (IEA, the IPCC’s SSP1-2.6, Ademe’s “Génération frugale”), as well as societal transition pathways to low-carbon energy (based on scenarios from the IPCC, France’s public operator RTE, IEA, and others). The 2022 energy crisis pushed up energy costs and challenged the Group’s buyers and financial teams. As a result, VINCI intensified its efforts to consume less energy and optimise the energy performance of its buildings and infrastructure, contributing to the achievement of its greenhouse gas emissions reduction targets (see under “Actions to reduce emissions from own operations” in paragraph 2.2.2.1, “Climate change mitigation and energy”, page 209).
At the same time, the Group successfully seized strategic opportunities in the energy transition, through an integrated offer of financing, construction, connection and maintenance of renewable energy production facilities, such as solar photovoltaic power plants, wind power projects and hydroelectric dams. VINCI also plays a key role in the development of infrastructure needed for low-carbon electrification, such as electricity transmission and distribution networks, substations that connect wind and solar farms to the grid, and electric battery plants (see EU Taxonomy activities 4.9 and 7.3 in paragraph 2.1.1.1, “Eligibility and alignment of VINCI’s revenue”, page 198). Lastly, VINCI supports its customers in the construction and maintenance of nuclear energy production infrastructure and is working to develop infrastructure for use of low-carbon hydrogen at its airports and on its motorways, but also through various partnerships and investments.
| Material impacts, risks and opportunities | Businesses concerned | Position in the value chain and on the time horizon | Stakeholders concerned |
|---|---|---|---|
| Energy consumption | |||
|
Negative impact: contribution to the acceleration of climate change Contribution to the acceleration of (irreversible) climate change due to the combustion of fossil fuels by site machinery and trucks, company and utility vehicles, industrial activities, and buildings |
Negative impact: contribution to the acceleration of climate change Contribution to the acceleration of (irreversible) climate change due to the combustion of fossil fuels by site machinery and trucks, company and utility vehicles, industrial activities, and buildings Businesses concerned All |
Negative impact: contribution to the acceleration of climate change Contribution to the acceleration of (irreversible) climate change due to the combustion of fossil fuels by site machinery and trucks, company and utility vehicles, industrial activities, and buildings Position in the value chain and on the time horizon Downstream Medium term |
Negative impact: contribution to the acceleration of climate change Contribution to the acceleration of (irreversible) climate change due to the combustion of fossil fuels by site machinery and trucks, company and utility vehicles, industrial activities, and buildings Stakeholders concerned Customers Public authorities Local communities and residents Nature and biodiversity |
|
Risk: increase in energy costs Impact on margins of energy cost increases (due to scarcity, taxes, etc.) |
Risk: increase in energy costs Impact on margins of energy cost increases (due to scarcity, taxes, etc.) Businesses concerned All |
Risk: increase in energy costs Impact on margins of energy cost increases (due to scarcity, taxes, etc.) Position in the value chain and on the time horizon Upstream Short term |
Risk: increase in energy costs Impact on margins of energy cost increases (due to scarcity, taxes, etc.) Stakeholders concerned Investors and lenders Concession grantors Public authorities Local communities and residents Customers Suppliers Subcontractors |
|
Opportunity: supporting the transition to a low-carbon economy Supporting the transition to a low-carbon economy (sustainable mobility; financing, construction, connection and maintenance of renewable energy production facilities such as solar photovoltaic power plants and wind power projects; development of low-carbon hydrogen production infrastructure) |
Opportunity: supporting the transition to a low-carbon economy Supporting the transition to a low-carbon economy (sustainable mobility; financing, construction, connection and maintenance of renewable energy production facilities such as solar photovoltaic power plants and wind power projects; development of low-carbon hydrogen production infrastructure) Businesses concerned VINCI Concessions VINCI Autoroutes VINCI Energies Cobra IS |
Opportunity: supporting the transition to a low-carbon economy Supporting the transition to a low-carbon economy (sustainable mobility; financing, construction, connection and maintenance of renewable energy production facilities such as solar photovoltaic power plants and wind power projects; development of low-carbon hydrogen production infrastructure) Position in the value chain and on the time horizon Downstream Long term |
Opportunity: supporting the transition to a low-carbon economy Supporting the transition to a low-carbon economy (sustainable mobility; financing, construction, connection and maintenance of renewable energy production facilities such as solar photovoltaic power plants and wind power projects; development of low-carbon hydrogen production infrastructure) Stakeholders concerned Users of infrastructure and services Customers Public authorities Local communities and residents Investors and lenders |
Climate change is a reality causing more frequent and more intense extreme weather events each year. The IPCC’s Sixth Assessment Report shows that human activities are causing climate change and stresses the need for available adaptation and mitigation solutions. Since 2020, the Group has analysed the resilience of its activities and assets in the short, medium and long term. Although extreme weather events (floods, hurricanes, etc.) can occur in the short term, they are most likely to generate material impacts and risks in the long term, due to the risk that their frequency and intensity will grow. To evaluate the resilience of its activities and assets throughout its value chain, VINCI used SSP5-8.5, the IPCC’s very high GHG emissions scenario, incorporating the most pessimistic change for extreme weather events and the highest risk level. Concessions activities, which are long-term, emerged as more vulnerable than construction activities, which involve shorter time frames and worksites that are very local in scope.
The Group therefore focused on concession assets in its vulnerability assessments. In 2024, VINCI Concessions expanded the range of its climate change vulnerability analysis, which now encompasses more than 85% of its network. In addition, all new projects developed by VINCI Concessions include a preliminary vulnerability assessment using ResiLens, a tool that is also based on the IPCC’s SSP5-8.5 scenario. The ResiLens climate risk evaluation tool was developed by Resallience, VINCI’s engineering and design office that specialises in adapting projects, cities, regions, infrastructure and their uses to climate change. VINCI Autoroutes conducted a criticality analysis of its national network in 2020. This study assesses changes in weather parameters in the long term (2035) and very long term (2085) and their impact on motorway infrastructure. It is based on two climate scenarios, RCP 8.5 (business as usual) and RCP 4.5 (ambitious policy to reduce greenhouse gas emissions). VINCI Autoroutes also participated in testing Ademe’s ACT Adaptation method, which measures companies’ ability to adapt to climate change.
VINCI’s worksites and activities are more specifically exposed to the following climate risks:
In the short term, the Group has identified opportunities related to work undertaken to adapt to climate change. VINCI provides regions with concrete solutions in the construction and financing of infrastructure adaptation projects (sea walls, drainage systems for heavy rainfall, reservoirs for river discharge, reconfiguring of stream and river channels, urban cool islands, water desalination plants, etc.) and the eco-design of adapted buildings. Projects aimed at preventing flooding totalled more than €100 million in revenue for VINCI Construction companies in 2024, including the Springbank Off-stream Reservoir project in Canada, which began in 2022 (see paragraph 2.2.2.2, “Climate change adaptation”, page 214).
