Circular economy objective
These activities accounted for 94% of VINCI’s aligned investments at 31 December 2025.
At 31 December 2025, the CapEx of non-eligible activities involving oil and gas accounted for 3% of the Group’s total revenue. The Group did not identify any significant investment involving coal.
The Group’s Taxonomy-eligible and Taxonomy-aligned CapEx is broken down by activity in the regulatory format on pages 449 to 450 (EU Taxonomy reporting tables supplementing this Report of the Board of Directors).
OpEx as defined in the Taxonomy Regulation amounted to €3,256 million at 31 December 2025, i.e. 5% of the Group’s total OpEx (€3,246 million a year earlier, i.e. 5% of the Group’s total OpEx). Based on an analysis of the Group’s business model, which involves the design, financing, construction and operation of infrastructure and buildings, as well as the delivery of expertise and services in the energy, building and information technology sectors, the Group’s spending to maintain assets related to environmentally sustainable economic activities is not material. Calculating this OpEx indicator would not provide any relevant or useful information to stakeholders (paragraph 1.1.3.2 of Annex 1 of Commission Delegated Regulation (EU) 2020/852 of 6 July 2021 and paragraph 1.c of Commission Delegated Regulation (EU) C(2025) 4568 of 4 July 2025). The Group has therefore applied the allowed exemption and does not include the OpEx indicator in this report.
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.
As it has each year since 2020, in 2025, VINCI’s Environment Day provided a setting for teams to discuss the initiatives taken in their business lines to help achieve the Group’s environmental ambition. Employees were invited to take part in many different workshops, Climate Fresk sessions and conferences held in their entities. VINCI Construction estimates that 80% of its employees took part in the various activities. The day was also an opportunity to promote the innovative solutions highlighted during the Environment Awards, a Group-wide contest whose second edition was launched in January 2024.
It drew attention to around 150 key solutions implemented by Group entities in 17 geographical areas, addressing a variety of environmental issues: carbon footprint reduction, climate change adaptation, reuse, innovative materials, land rehabilitation and water resource management. Twelve solutions were designated winners in the final round for the 2024 edition. The Grand Prize was awarded to the Revilo® urban planning solution, designed to create cool islands in built-up areas.
In 2025, the Group continued to roll out the winning Environment Award solutions through the Scale up! programme, which aims to accelerate the operational scaling of these environmental innovations. The programme supports each of the 150 recognised solutions by providing resources to help entities develop the solutions autonomously and strengthen their local impact. Nineteen of these solutions were selected to receive personalised support from an external coach, to build a robust operational strategy and ensure environmental performance.
Uxello, a VINCI Energies company specialised in fire protection, benefited from this programme, launching the production of its first dynamic filtering system for firefighting water tanks at the end of 2025. The technology allows for water savings of up to 91% in volume, which would otherwise be wasted during regulatory draining operations.
VINCI also promoted solutions from its Environment Awards at ChangeNow in Paris, Pollutec in Lyon, and other external events in 2025 to which it contributed.
Several communities and networks at VINCI embed environment sustainability into the Group’s cross-business functions: they include networks focusing on a specific theme (such as biodiversity), the Ecowork community, the Responsible Procurement Committee, in which the heads of the Group’s Procurement, Environment and Social Responsibility departments take part, in collaboration with the representatives from the business lines, and initiatives for the responsible use of digital technology, supported by the Information Systems Department.
The Group’s Environment Department also manages internal networks that focus on the key topics of the environmental ambition, as described in paragraph 1.2.1, “ESG governance”, page 194. These networks unite dozens of experts from all the Group’s geographies and business lines to create a multi-disciplinary approach, share solutions and best practices, and make progress on common issues. More than 500 employees are active members of Ecowork, a community launched by VINCI’s Environment Department nearly 10 years ago. They act as local pillars of the Group’s environmental ambition. In a decentralised context, they relay the Group’s environmental goals in its various divisions and business lines. This internal network facilitates the upward flow of business information and promotes the emergence of best practices developed through collective intelligence. In 2025, led jointly by the Environment Department and the organisation Makesense, the Ecowork community ran training courses, launched meetings and discussions, and provided tools to boost engagement and awareness of environmental issues. The community originated in France but is now international, with two branches each in Germany and in the United Kingdom.
