Locked-in emissions
VINCI has estimated its locked-in emissions, their impact on its transition plan, and the achievement of its reduction targets. Locked-in emissions are measured by estimating future GHG emissions resulting from the use of assets (such as infrastructure and production facilities) or long-life products over their life span. The Group has identified two types of material assets, namely, motorway infrastructure and airports, with a high net carrying amount in the Group’s financial statements (see the consolidated financial statements, page 316) that lock in emissions. These are key assets that are in use or firmly planned (those that the company is very likely to deploy in the next five years) and that lock in a significant amount of GHG emissions during their operational life. With its motorway decarbonisation plan and Net Zero 2050 pathway for airports (described under “Actions to reduce emissions in the value chain”, in paragraph 2.2.2.1, “Climate change mitigation and energy”, page 209). VINCI is ensuring that these assets do not impede the achievement of its reduction targets. The achievement of the net zero target set by VINCI Airports is certified separately for each airport by Airport Carbon Accreditation (ACA), the global carbon management certification programme for airports. VINCI has analysed the potential transition risks associated with its locked-in emissions and did not identify any material impacts at Group level.
The Group’s GHG emissions are monitored in paragraphs 2.2.3.2, “GHG emissions”, page 216, and 2.2.3.3, “Progress against emissions reduction targets – Scopes 1 and 2”, pages 217 to 218.
Actions to reduce emissions from own operations
In 2024, the Group continued to implement action plans to reduce its direct emissions in four priority areas:
- VINCI employee mobility;
- site machinery and heavy vehicle performance;
- optimising energy for industrial activities and buildings;
- decarbonising the energy mix.
VINCI employee mobility
Proportion of the vehicle fleet for activities in France converted to low-emission vehicles
With a worldwide fleet of over 80,000 passenger and utility vehicles, fuel consumption relating to the use of vehicles by VINCI employees is a significant source of GHG emissions for the Group. Reducing these emissions requires studying relevant, locally available travel solutions, as well as transitioning the vehicle fleet and travel policy. The actions taken range from optimising journeys and kilometres travelled to the use of low-emission vehicles, awareness initiatives and training in eco-driving practices.
More and more light and utility vehicle fleets are being replaced with electric or other alternative energy vehicles. In 2024, 44% of new vehicle orders in France were for low-emission vehicles. At 31 December 2024, VINCI’s fleet in France comprised more than 20% all-electric and plug-in hybrid vehicles. By 2030, the Group plans to have converted more than 50% of its fleet to electric vehicles.
VINCI takes action to encourage its employees to use non-motorised forms of transport. Cobra IS has a car-sharing programme in Mexico and Colombia for vehicles used by employees to travel between their homes, sites and temporary accommodation. VINCI Construction has trained over 60% of its employees in eco-driving and is teaching operators about reducing idle times worldwide through Energic challenges and 15-minute environment sessions. At VINCI Energies, 1,960 employees were trained in eco-driving in 2024 and 4,900 EV charge points were deployed internally across its fixed sites to facilitate electric mobility.
Site machinery and heavy vehicle performance
The consumption of energy relating to the use of site machinery and heavy vehicles is a major source of Scope 1 and 2 emissions for VINCI, representing over 30% of total emissions. To reduce the corresponding emissions, VINCI entities are working with their suppliers to take action in three key areas: monitoring consumption in real time, providing training for operators and modernising their fleets. To monitor its consumption, VINCI Construction continues to roll out e-Track, which captures data for machines, trucks and utility vehicles fitted with telematics systems, with a view to optimising their use and therefore their energy consumption. This tool was operational for close to 70% of the VINCI Construction fleet in 2024. Sogea-Satom (Europe Africa Division) has begun to monitor consumption for each of its vehicles. An alert is triggered if consumption significantly exceeds a defined ratio.
VINCI is also investing in modernising its fleet of machines and trucks. Although the large-scale electrification of construction vehicles remains limited, due to a lack of technical solutions, testing is ongoing. Océlian, a VINCI Construction subsidiary, has collaborated with Naviwatt to fully electrify the Bélénos, a catamaran equipped with a conveyor belt that plies the Seine to remove rubbish. In July 2024, VINCI Autoroutes (ASF) inaugurated its first retrofitted van patrolling the ASF network. Its partnership with a retrofit specialist is in keeping with the new agreement signed between the French government and automotive industry players, which identifies retrofitting as a key step in reaching national decarbonisation goals. Biofuels are being used more widely and accounted for 3% of the Group’s total energy consumption in 2024 (see paragraph 2.2.3, “Performance monitoring”, page 215).
Optimising energy for industrial activities and buildings
Reduction of energy consumption by asphalt plants, in kWh/tonne of asphalt produced
Due to the industrial nature of their business, VINCI Construction entities account for more than 20% of the Group’s total energy consumption. Since 2016, the Road France Division of VINCI Construction has developed and implemented its environment strategy, with ambitious energy efficiency targets for each business segment. In 2024, VINCI Construction’s industrial facilities continued to reduce their energy consumption in France, where consumption of asphalt plants stood at 75 kWh/tonne of asphalt produced. Respectively, 56% and 44% of plants had covered storage facilities for asphalt pavement and sand, 56% of plants had switched to electric-powered binder equipment systems, and more than 60% had gone from coal or oil burners to natural gas burners. In parallel, the Edrive digital tool was rolled out at more than 60% of VINCI Construction’s industrial facilities, enabling sites to monitor reductions in energy consumption and CO2 emissions in real time.