- OpExThe denominator value for operational expenditure (OpEx) was calculated in accordance with the definition provided in the Annex to the Disclosures Delegated Act. Total non-capitalised costs relating to research and development, building renovation measures and the short- term lease, maintenance and repair of Group assets accounted for 5% of the Group’s total operating expenditure at 31 December 2024, which is not considered to be representative of its business model.
5.3.4.2 Methodological approaches
- Activity 6.15 (Climate change mitigation) A portion of the eligible and aligned revenue from VINCI Autoroutes was determined by estimating the share of toll revenue collected from zero-emissions vehicles. This method may require reconsideration once the draft FAQ notice dated November 2024 is adopted.
- Fast-close data reporting The percentages of Taxonomy-eligible and Taxonomy-aligned activities were calculated at 30 September 2024 and applied to the Group’s revenue and CapEx at 31 December 2024, except for VINCI Autoroutes and VINCI Immobilier, which recalculated their percentages at 31 December 2024. The Group ensured that no significant event had occurred in the fourth quarter of 2024 that was likely to invalidate the estimate made based on data at 30 September 2024.
- Adaptation DNSH criteria (Appendix A of Annex I to the Climate Delegated Act) In assessing the vulnerability of its activities to physical climate risks, as required under Appendix A, the Group takes two approaches to determining an activity’s lifespan:
- For activities where VINCI is an infrastructure concession holder for a period spanning more than 10 years, the vulnerability assessment covers the infrastructure’s lifespan;
- For activities where VINCI is the builder, the assessment covers an expected lifespan of less than 10 years for the eligible activity.
- Pollution DNSH criteria (Appendix C of Annex I to the Climate Delegated Act) These generic DNSH criteria mainly apply to the Group’s construction activities in France (CCM 7.1 and 7.2). To determine whether these activities meet the pollution DNSH criteria, the Group followed the interpretations provided in the White Paper published by EGF BTP and the Taxonomy Guide of the Observatoire de l’Immobilier Durable (OID) . For building projects using A or A+ labelled products, emissions of volatile organic compounds (VOCs) and formaldehyde were below the required levels. The other criteria were assessed as met, in accordance with regulations in force.
- Minimum safeguards The system implemented by VINCI throughout the Group to manage risks relating to human rights (including labour and consumer rights), bribery and corruption, taxation and fair competition was assessed against the four sets of standards referenced in the EU Taxonomy Regulation:
- the OECD Guidelines for Multinational Enterprises;
- the UN Guiding Principles on Business and Human Rights (UNGP);
- the 11 fundamental instruments of the International Labour Organisation (ILO);
- the International Bill of Human Rights.
The assessment was mainly based on the following documents: VINCI’s 2023 Universal Registration Document, VINCI’s Guide on Human Rights, the VINCI Manifesto, the Code of Ethics and Conduct, the Anti-corruption Code of Conduct and the VINCI Integrity platform. The Group applies the procedures set out in these documents and takes measures in accordance with French legislation, specifically the duty of vigilance law (see section 4 of chapter F, “Duty of vigilance plan”, page 279) and the Sapin 2 law, to manage these risks. It cooperates with the Business & Human Rights Resource Centre and responds to any concerns raised within three months.
At 31 December 2024, VINCI had not been found guilty of any infringement relating to the above areas.
5.3.5 Resources, waste and materials
- Purchased resources The published data corresponds to the volume of resources directly purchased by VINCI companies. The data, expressed in tonnes, is collected from physical data also used by the Group to calculate upstream Scope 3 emissions (see paragraph 5.3.3.3, “Scope 3 greenhouse gas emissions”, page 274). Intercompany sales in the Group are eliminated. Purchases by subcontractors or by companies mandated by the Group are not included in purchased resources.
- Materials produced, including recycled materials This indicator corresponds to the real tonnage of materials (natural and recycled aggregates) that VINCI’s quarries and recycling facilities extract or produce in their own operations.
- Consumption of recycled materials (steel, aggregates and asphalt mix) The percentage of steel of recycled origin was obtained by calculating a ratio based on physical data from suppliers of steel to VINCI Construction companies. The percentages of aggregates and asphalt mix of recycled origin was obtained from physical data.
- Produced waste Waste is defined as any substance or object that the holder disposes of, intends to dispose of, or has an obligation to dispose of. The volume of produced waste includes waste from fixed sites, waste produced by concession users and waste generated from construction or maintenance work for which the contract includes waste management. This volume is expressed in tonnes and obtained from physical data. If multiple Group companies are working on the same project, one as programme manager and the others as contractors, only the contractors report on waste tonnage, to prevent double counting. Waste produced by the Group includes inert materials, non-hazardous waste and hazardous waste, according to the definitions of the European Environment Agency and Directive 2008/98/EC.
- Excavated soil This indicator corresponds to the tonnage of excavated soil removed from VINCI company worksites. Soil that is reused on-site is excluded from the published data. The published data reflects physical data or, if physical data is not available, estimated data.
- Recovered waste The waste recovery rate is calculated as the volume of recovered waste over the volume of produced waste, in tonnes. VINCI distinguishes between the material recovery of waste (recycling, backfilling of quarries, etc.) and energy recovery from waste (incineration with energy recovery). The reuse of excavated soils outside of the extraction site is another form of recovery.
- Rate of on-site reuse of reclaimed asphalt pavement This indicator measures the percentage of reclaimed asphalt pavement that is recycled and directly reused on VINCI Autoroutes worksites. It is calculated as the tonnage of reclaimed asphalt pavement produced and reused on-site over the total tonnage of reclaimed asphalt pavement produced during the year.
- Number of airports with zero waste to landfill This indicator shows the number of airports with an on-site waste recovery rate of 100%. It includes the volumes of waste produced by the airport, the Group’s airport personnel and airport users.
