Vinci

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

Carbon per million dollars of physical infrastructure — PP&E plus leased real-estate, including upstream and downstream leased emissions (Scope 3 categories 8 + 13). The most complete view of physical-asset carbon intensity, relevant for REITs and infrastructure-heavy firms.

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VINCI develops and operates renewable energy production sites (e.g. São José do Belmonte solar farm in Brazil, 2023). VINCI Airports deployed solar power plants with combined installed capacity of 48 MWp by end of 2023. VINCI Autoroutes estimates it could produce up to 1 GWp by deploying 200 solar farms on unused land and car-park canopies. Cobra IS delivered 1 offshore converter in 2023 with 8 more to come, supporting offshore wind integration.

No narrative on durable removals approach in the firm's most recent reports.

• VINCI Airports Scope 1+2 reduction via energy efficiency and on-site solar

  VINCI Airports targets net zero Scope 1+2 by 2030 in the EU (including Gatwick) and by 2050 globally. By 2023 it had reduced its direct footprint by 50% vs. 2018 baseline via energy-efficient renovations and 48 MWp of on-site solar at its airports.

• Low-carbon concrete and timber construction

  VINCI Construction committed to using 90% low-carbon concrete at worksites by 2030, and is developing timber structures via subsidiary Arbonis and Rehaskeen® facades for thermal renovation. The Universeine complex in Saint-Denis aims for a carbon footprint 40% lighter than conventional concrete buildings through timber combined with low- and ultra-low-carbon concrete.

• Asphalt production energy efficiency (70 kWh/t target)

  Industrial activities (29% of scope 1&2) include asphalt plants with energy performance targets of 70 kWh/t. The Group's broader 'low-carbon highway' approach maximises recycling/reuse of asphalt off-cuts (between 70% and 100%).

• Worksite machinery electrification & E-Track monitoring

  Worksite machinery represents 33% of scope 1&2 emissions. More than 50% of worksite machines are equipped with the E-Track energy consumption monitoring system to drive operational efficiency.

• Vehicle fleet electrification

  Company cars and utility vehicles represent 31% of scope 1&2 emissions. By end of 2023, 12% of vehicles in France had been converted to electric power. Renewal of the fleet with low-emission vehicles is a stated lever.

• Energy efficiency in concessions and offices (France)

  In September 2022, amid the energy crisis, VINCI rolled out an energy savings plan to reduce electricity and natural gas consumption of its concession activities and French offices by 15% in 2023, aligned with its broader goal to shrink direct carbon footprint (Scopes 1+2) by 40% by 2030.

• Low-carbon asphalt and concrete production

  VINCI Construction is modernising its asphalt production plants with new energy sources, equipment and monitoring systems to lower consumption and emissions. A cold-mix asphalt recycling process was used for the first time in 2022 on A20 resurfacing. Ultra-low-carbon Exegy® concrete (up to 70% emissions reduction vs traditional) was deployed on Grand Paris Express and EcoPark South London; target 90% low-carbon concrete in projects by 2030.

• Low-carbon concrete (Exegy standards) in construction

  VINCI Construction committed to using low-carbon concretes meeting Exegy standards at its sites. In 2021, 90% of concrete used by VINCI Construction was low-carbon, a major lever to reduce embodied carbon in the firm's largest material input.

• Recycled aggregates and circular materials in roadworks

  Eurovia produced 14 Mt (15% of total annual production) of recycled aggregate mix in 2021, with an ambition to double the recycled-materials share by 2030. VINCI Autoroutes recycled 42% of reclaimed aggregates at its own worksites. The Granulat+ programme increases recycled materials usage.

• Low-carbon motorway and concession decarbonisation

  VINCI Autoroutes is deploying a low-carbon motorway project with regional partners to accelerate decarbonisation of mobility. VINCI Airports modulates airport fees depending on the carbon footprint of aircraft, incentivising lower-emission air travel by customers.

• Low-carbon concrete (Exegy®) — 90% of VINCI Construction by 2030

  Materials purchases (mainly concrete and steel) represent 18% of scope 3. The 2030 ambition is 90% low-carbon concrete used by VINCI Construction. In 2023, 50% of low-carbon concrete was used by VINCI Construction Buildings division in France. Levers also include secondary steel and bio-sourced materials.

• Renewable energy infrastructure delivery (Energy business lines)

  VINCI Energies and Cobra IS finance, develop, install and operate renewable energy production and transmission infrastructure — solar farms, offshore wind converter stations, France-Spain electrical interconnection, and pumped storage hydroelectric (Abdelmoumen, Morocco, 2×350 MW). Cádiz construction yard order book provides visibility to 2031.

• EV charging infrastructure on motorways

  VINCI Autoroutes equipped all 180 motorway service areas in France with EV charging stations — more than 1,600 charge points, three-quarters being superchargers. VINCI Highways is rolling out charging across its international network, and was awarded contracts in Germany for 106 stations / 828 charge points (Berlin, Hamburg, Leipzig).

• Concession traffic decarbonisation (45% of scope 3)

  Concession traffic represents 45% of VINCI's scope 3 emissions. Levers include 'Low Carbon Highway', tariff modulations according to environmental performance at VINCI Airports, and EV recharging infrastructure (EasyCharge).

• Sustainable aviation fuel and hydrogen mobility at airports

  VINCI Airports distributes sustainable aviation fuel (SAF) made from used cooking oil at four French airports, adjusts landing fees based on aircraft emissions, and experiments with hydrogen mobility at Lyon-Saint Exupéry and three Japanese airports (Kansai, Osaka Itami, Kobe). It is a founding partner of the Clean H2 Infra fund and invests in H2 Mobility (Germany) and Hype (Paris hydrogen taxis).

• Eco-design of buildings and infrastructure (use-phase)

  Building use (5% of scope 3) and energy equipment (9%) levers include eco-design of buildings and infrastructure, energy efficiency, renovation, energy performance contracts, and integration of renewable energies. The Wave Platform supports building energy efficiency.

• Sustainable aviation fuel and landing-fee eco-modulation at airports

  VINCI Airports introduced an eco-modulation system in France and at London Gatwick to adjust landing fees based on aircraft emissions, supporting aviation decarbonisation. At several network airports, VINCI Airports provides airlines with sustainable aviation fuelling services using biofuels from used cooking oil (80% smaller footprint vs fossil kerosene).

• Decarbonising customer building maintenance (VINCI Facilities)

  VINCI Facilities offers customers two contract types: a 'low-carbon contract' (commits to an emissions reduction plan with agreed solutions) and a 'carbon-reducing contract' (identifies further energy efficiency actions). Its P2C tool calculates the Scope 1/2/3 carbon footprint of a maintenance contract across a building's life cycle to propose the most effective low-carbon solutions.

• Low-carbon hydrogen infrastructure investments

  VINCI co-founded the largest global fund for low-carbon hydrogen infrastructure, created the Hyfinity brand for hydrogen infrastructure construction, invested in Genvia (pilot manufacturing line for high-temperature electrolysers in Béziers), built the first airport hydrogen stations for ground vehicles, and invested €15m in Hype — France's integrated hydrogen mobility platform for taxis.

• EV charging infrastructure across motorway network

  By end-2022, 125 of 180 service areas in the VINCI Autoroutes network were equipped with EV charging infrastructure, totalling 604 charging points. VINCI Autoroutes launched Ulys Electric (tolls in FR/ES/PT/IT, 500 car parks, 60,000 EV charging points). VINCI Highways is also rolling out charging stations on overseas networks such as PR1BINA in Slovakia.

• Customer-side energy performance solutions (VINCI Energies)

  VINCI Energies develops energy-performance and emissions-reduction solutions jointly with customers, addressing Scope 3 downstream emissions through services that help clients decarbonise their own operations.