INTEGRATED REPORT 2019 2020 - Veolia
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INTEGRATED REPORT 2019 • 2020
1.
This is Veolia’s third integrated (Vision and mission)
report. This report provides a full
Interview with Antoine Frérot, Chairman and Chief Executive
and forward-looking overview
CHAPTER Officer of Veolia – The Group’s contribution to the Sustainable
of the Group’s strategy, businesses
Development Goals – Defining and tracking our purpose – Our
and commitments. It marks a
business model – Report on the 2016-2019 plan – The Impact
turning point, with the publication
2023 strategic program.
of the Group’s purpose and the
page 2
start of its Impact 2023 strategic
plan. As such, it demonstrates how
2.
Veolia creates lasting value for all
its stakeholders. The report was
put together jointly by all the (Solutions and expertise) The world is in the grip of a serious and unprecedented health crisis.
Group’s various departments Given our mission, our Group is doing everything it can to ensure the
Overview of flagship projects for conserving resources and
meeting in workshops that, in
particular, provided an opportunity
CHAPTER improving our clients’ environmental footprint continuation of the essential services we provide for individuals and
– Veolia’s expertise in managing the most complex problems, health systems. Veolia is introducing changes to limit the virus’
to think together about the
from hazardous waste to decommissioning
document’s basic sections: the propagation and maintain drinking water, wastewater, and waste and
– Focus on innovation: combating plastic pollution and
changing business model,
improving indoor air quality, which is a major public health energy management services while also protecting its employees,
presentation of the new strategic
issue. especially those working in the field.
program, and its multifaceted
page 20
approach to performance.
We have a higher level of responsibility than some other companies
3.
because the services we provide are essential for everyday life. This
(The Resourcer Community) epidemic has struck Asia, Europe, the Americas, the Middle East and
Employees involved in major milestones in the Group’s life Africa, indeed wherever we are present, and our employees are
CHAPTER – Talented people supported throughout their career, with committed to shouldering their responsibility. Our clients are
an emphasis on upward mobility and professional equality
– The fundamentals: prevention, health and safety, ethics
counting on us, hospitals are counting on us, end users and public
and compliance. authorities are counting on us.
page 34
Since 1853, we have shown that we are able to counter adversity.
Almost 170 years since its foundation, our company has relied on its
4.
unique expertise and unfailing commitment to deal with extreme
(Performance and value creation) crises, provide solutions and take action where an emergency needs
Multifaceted performance benefiting stakeholders’ entire us most.
CHAPTER ecosystem – Value created by Veolia’s businesses for its clients
and the regions where the Group operates.
page 44
In this integrated report, you will see that our purpose is defined by
our usefulness. More than just words, day after day, we must prove
just how useful we are, whatever the situation. Our people work to
this end each and every day, strengthened by what this global health
5.
Veolia Integrated Report 2019 • 2020
crisis is revealing: new forms of solidarity, pragmatism and innovation,
(Working for the future) and effective solutions that are in place to assist each of us and
Demanding and committed governance open to society protect the health of all.
CHAPTER to guide the Group through its strategic choices – Environment:
how Veolia is responding to the issues of climate change
with an optimistic and pragmatic roadmap. ANTOINE FRÉROT
page 54 CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF VEOLIA
1
“Veolia’s PURPOSE P. 10
is to contribute to HUMAN PROGRESS P. 4
by firmly committing to the SUSTAINABLE DEVELOPMENT GOALS P. 8 set by the UN to achieve
a better and more sustainable future for all. It is with this aim in mind
that Veolia sets itself the task of “RESOURCING THE WORLD” P. 12 through
its environmental services business.
At Veolia, we are convinced that continuing human
development is only possible if economic,
social and environmental issues are addressed
as an indivisible whole. This belief is embedded
Veolia Integrated Report 2019 • 2020
in the history of the company, which as soon as it was
created in 1853, showed the way by making access
to drinking water an essential element
of public health and quality of life.”
(…)
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CHAPTER s its
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shareholders, employees and other
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stakeholders such as the environment,
society at large and future generations.
PROGRESS…
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s us impact”. With this aim in mind, for each of
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A. F. Our aim was to end our 2016-2019 our businesses our priority will be to seek
a nd
t er efficiency and growth plan on a high note, maximum impact, whether environmental,
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e ab which we did. This is evident in our robust, social or economic. Through this program,
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ac profitable growth, results that outpaced our Group is aiming to become the
UN our commitments, and a host of commercial benchmark company for ecological
he
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e tb successes. In 2019, our revenue was up 4.3% transformation. Few companies can lay
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oa at constant exchange rates to €27.2 billion, claim to having this ambition and few
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en EBITDA was over €4 billion, cost savings companies are in a position to have such
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ab current net income Group share was up them. This is an honor, a duty and a strength
t ain
S us 13.5% at constant exchange rates. for our Group. Being the benchmark
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t ot A significant share of revenue was derived company means you are the yardstick
i ng
it t from new businesses, such as the circular against which all others compare and assess
m
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co economy, energy efficiency and treatment themselves, the company that develops
ly
m
f ir of difficult pollution. This confirms our future solutions and standards for
by
S
R ES ability to project ourselves forward into environmental industries, the company
OG emerging markets, thereby renewing that paves the way and “inspires” others.
PR
AN our businesses and forming vigorous The success of a company is measured by its
M
HU new sources of growth. Take, for example, achievements but also by the way it inspires
t o
te
r ib
u the contract signed with Toyota Tsusho other economic players and society.
nt
oc
o in Japan to recycle lithium batteries from
st
ei electric vehicles, the smart energy network What part does innovation play
p os
ur
sp management contract with the city in this new program?
of Braunschweig in Germany, and the
extension of our hazardous waste A. F. By innovating, we prepare and intensify
treatment business in South Africa. our future impact. This is one of the reasons
why our new strategic program places
And what are your conclusions on the entire so much emphasis on innovation, for which
2016-2019 efficiency and growth plan? we have selected six priority areas: health
and combating new pollutants, adaptation
A. F. Over the plan’s four years, our revenue to climate change, new loops in the circular
progressed an average of 3.6% annually, economy, the food chain, new energy
EBITDA by 4.6% and current net income by services, and digital offers that transform
9.6%. Our cost savings exceeded €1 billion. data into a competitive advantage.
This steady and sustained progress in our Already, 2019 saw a wealth of innovations,
Veolia Integrated Report 2019 • 2020
growth and profitability is testament such as the development of new seawater
to the strength of our operational desalination technology – the “barrel” –
performance, the sound use of our capital, that is more reliable, more compact and
and the quality of our strategy and its consumes less energy; the creation of a joint
INTERVIEW(1) WITH ANTOINE FRÉROT implementation. Throughout the plan, company with EDF called Graphitech for
CHAIRMAN AND CHIEF EXECUTIVE OFFICER Veolia furthered its leadership and dismantling graphite reactors; and
OF VEOLIA methodically gained positions in
the most promising growth markets. (1) Interview held in February 2020.
4
5
1.
CHAPTER
promising businesses. In financial terms, Another positive is the very high level of the planet, industries and cities.
we are committed to seeing this program employee engagement with regard to this As it seeks to maximize our environmental,
generate EBITDA of between €4.7 billion new program. The internal survey we social, economic and financial impact,
and €4.9 billion, €1 billion-worth of conducted last September of 80,000 Veolia this program gives equal attention and
improvements to waste sorting robots cumulated cost savings and €1 billion employees revealed that 84% feel engaged. the same degree of commitment to each
using artificial intelligence, to name but in current net income Group share, This figure is far higher than that for many of the stakeholders who have decided
a few. These innovations complete our while containing our debt to ensure other comparable companies and is a source to work alongside us. Our industrial
value chain and are a powerful source of it does not exceed three times EBITDA. of legitimate pride and even greater and economic decisions as a company
differentiation, putting us one step ahead For 2020, our main aims are to pursue confidence for our Group. and our choices as its employees have
of our competitors and increasing sustained growth in revenue, achieve a varied level and depth of impact that far
our positive impact on the environment €250 million in cost savings and generate How does this plan fit with Veolia’s purpose? exceeds our immediate context.
and society. EBITDA of around €4.1 billion. To take account of this, we are going to
A.F. Our purpose describes what drives use a system of 18 key performance
What are the guiding principles behind On what grounds does Veolia base our company, the basis for its existence indicators to measure our multifaceted
Impact 2023 and its underlying financial its confidence in its ability to achieve and its future, and the sense of where performance for our 5 main stakeholders:
commitments? these goals? it is heading. It emphasizes the fact that employees, clients, shareholders, the planet
its prosperity is based on its usefulness and society. These KPIs will also serve as
A.F. This strategic program, which will act as A.F. First and foremost, this confidence – and so its “impact” – for all stakeholders. the basis for the Group’s senior executives’
a compass for our Group for the coming four is based on our Group’s achievements. It defines for which of the major issues variable performance-based remuneration.
years, comes at a particularly positive time What has it accomplished in the past facing the world we want to provide That will be a powerful driver for attaining
for our businesses – never before have few years? First, it successfully completed solutions. Our strategic program is totally our goals, maximizing our positive impact
environmental expectations been greater its wide-ranging 2012-2015 transformation consistent with our purpose because it on the environment and society ‒ while
“WITH IMPACT improving our profitability ‒ and for
and the environment such a high priority. plan, then its demanding 2016-2019 focuses on impact rather than size and
2023, FOR In fact, our planet and society today are profitable growth plan, exceeding concentrates on the concrete response to stepping up the world’s ecological
EACH OF OUR at a historic crossroads. That is why our the targets it had set itself in both instances. the major environmental challenges facing transformation.
Group has decided to focus its resources There is therefore no reason to think
BUSINESSES and activities on the main environmental it should be any different for this new
OUR PRIORITY issues facing the world, while seeking program. But more than that, the intensive
maximum impact. We will be guided by preparatory work by Veolia’s employees
WILL BE TO SEEK four main principles of action to derive enabled us to get a head start on Impact
MAXIMUM the maximum potential from this era 2023’s rollout. For example, the sale of
IMPACT, WHETHER and our markets. First, accelerate our most our district heating business in the United
“OUR PURPOSE
promising growth and differentiating States was finalized at the end of 2019
ENVIRONMENTAL, businesses by taking them into all our for more than €1 billion and is part of
SOCIAL OR
DESCRIBES WHAT
geographic regions. For example, €3 billion-worth of planned divestments
the treatment and recovery of hazardous to free up capital to invest in more
ECONOMIC.” waste, the circular economy (especially profitable businesses.
plastics), energy efficiency and industrial
ecology. Next, optimize and strengthen our
DRIVES OUR COMPANY,
traditional businesses, which continue to
create value and some of which are a source THE BASIS FOR ITS
of new opportunities, such as water and the
management of heating networks EXISTENCE AND ITS
FUTURE, AND THE
transitioning to low-carbon operation. Third,
slow or reduce our most mature businesses
SENSE OF WHERE
or those that have become commonplace
and where we have difficulty standing out.
Veolia Integrated Report 2019 • 2020
Lastly, continue to think up new solutions
through a targeted innovation policy, and
progress our younger businesses. Of course,
IT IS HEADING.”
Antoine Frérot
this ambitious strategic program will require
rigorous implementation if it is to become
reality: rigorous cost management, rigorous
debt control, and rigorous investment
decisions to gain a position in the most
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Veolia, engaged in and Executive Committee
members:
the transformations needed Efficiency rate of drinking
water networks
SPEED UP THE TRANSFORMATIONS NEEDED to achieve the SDGs SDG 6 – Clean water
TO DELIVER AGENDA 2030 and sanitation
Veolia is engaged, to a greater or lesser extent, in the Production of renewable
implementation of all 17 SDGs. Through its water, waste or alternative energy /
Energy efficiency of heating
and energy businesses, Veolia provides solutions aimed networks / CO2 emissions
at ensuring access for all to essential services, reducing per quantity of energy
1. SDG TRANSFORMATIONS
produced (by incineration)
the company’s and its clients’ ecological footprint, and
SDG 7 – Affordable
The Sustainable Development Goals (SDGs) aim to resolve The SDSN also proposed organizing implementation contributing to the world’s transitions. Daily, Veolia and clean energy
the major global challenges we face, especially inequality, of the SDGsPart around
1. SDGsix broad transformations better
Transformations contributes to the SDGs, with particular emphasis
Frequency of lost-time
environment, prosperity and peace, in order to usher aligned on the organizational structures of governments on the 13 that relate more specifically to its purpose: injuries
in a Six
better
SDGand more sustainable
Transformations future
underpinned byfor
theus all.
principles of leaving no one andbehind
companies.
and circularity & decoupling SDG 8 – Decent work
The SDGs set out in Agenda 2030 can only be achieved 9 goals related to its businesses and economic growth
with everyone’s commitment: states, public Leave No One Behind “Leave No One Behind”
authorities, Methane capture rate
NGOs, companies, citizens, researchers and unions. Veolia’s at landfills
1. EDUCATION, GENDER, AND INEQUALITY
commitment 1
SDGS 1, to contributing
5, 7-10, 12-15, 17 to these goals is inscribed SDG 9 – Industry, innovation
in the very first sentence of its purpose: “Veolia’s purpose is and infrastructure
2. HEALTH, WELLBEING, AND DEMOGRAPHY Overall rate of waste
to contribute to human progress by firmly committing to
SDGS 1, 2, 3, 4, 5, 8, 10 recovery
the Sustainable Development Goals set by the UN to achieve 6 2 3 goals linked to its organizational priorities
3. ENERGY
a better and more DECARBONIZATION
sustainable future ANDfor SUSTAINABLE
all.” However, as a responsible company SDG 12 – Responsible
INDUSTRY SDGS 1-16 consumption and production
according to the 2019 SDGs Report(1), the current rate
Diagnostics conducted
of implementation
4. SUSTAINABLE FOOD, is not fast enough
LAND, WATER, to achieve
AND and biodiversity action plans
the 2030 targets.SDGS
OCEANS Experts are
1-3, 5, 6, particularly
8, 10-15 concerned about 5 3 SDG 15 – Life on land
four5.areas: inequality, climate change,
SUSTAINABLE CITIES AND COMMUNITIES SDGS 1-16
loss of biodiversity,
and the volume of waste generated by human activity. 1 key goal as a driver to achieve the SDGs (1) From 2020, it will be included
in the KPIs relating to Veolia's
Given6. this
DIGITAL REVOLUTION
situation, in 2019 the FORSustainable
SUSTAINABLE Development purpose.
Solutions DEVELOPMENT
Network (SDSN, SDGS 1-4, 7-13, 17
a network of scientists 4
and experts working on practical solutions to achieve
Circularity and Decoupling 1. Education, gender 4. Sustainable food, land,
the SDGs) recommended a change of approach
Veolia Integrated Report 2019 • 2020
and inequality; water, and oceans;
for the 17 SDGs to facilitate and speed up their
1. Education, Gender, and Inequality. Involving ministries of Education, 2. Health, well-being
Science and Technology, Gender 5. Sustainable cities
implementation . (2)
and demography; As part of its latest strategic program – Impact 2023
Equality and Family Affairs this Transformation covers investments in education (early childhood development, and communities;
This report emphasizes the importance of addressing
primary and secondary education, vocational training and higher education),3. Energy social protection systems and 6. Digital revolution
(see p. 16) – Veolia is developing new economic activities
the SDGs synergistically because
labor standards, of the
and R&D. proven
It directly interaction
targets SDGs 1, 2, 4, 5, 8, 9, and 10,decarbonization
and reinforces other SDGand
outcomes. for sustainable based on six themes: health and new pollutants, adaptation
between many of the goals and targets – for example, sustainable industry; development. to climate change, new loops for materials, food chain,
2. Health, Wellbeing, and Demography. Groups interventions to ensure Universal Health Coverage (UHC),
a healthy environment and fighting climate change
promote healthy behaviors, and address social determinants of health and wellbeing. It directly targets SDGs new energy services and new digital offers. This approach
(1) Report of the Secretary-General on SDG progress 2019, United Nations.
both contribute 2,to3,improved health
and 5 with strong outcomes.
synergies into many other goals. Implementation will need to be led by ministries of significantly reinforces the Group’s contribution to the SDGs
(2) Sustainable Development Report 2019, Bertelsmann Stiftung and
health. Sustainable Development Solutions Network. and to five of the SDSN’s six broad transformations.
3. Energy Decarbonization and Sustainable Industry. This transformation groups investments in energy
access; the decarbonization of power, transport, buildings, and industry; and curbing industrial pollution.
It directly targets SDGs 3, 6, 7, 9, 11-15, and reinforces several other goals. Implementation will require
8
9
coordination across a large number of industries, including energy, transport, buildings, and environment.
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• 3rd discussion with the Board directors about the
and adoption of the text purpose indicators
Veolia was one of the first French companies STEPS Oct. to Dec.
• April 18: presentation of • Launch of the
2019
to express its purpose in a complete text that 2018
IN DEFINING the purpose at the employee
is the outcome of numerous consultations and • Presentation to the Shareholders’ Meeting commitment plan
VEOLIA’S PURPOSE Executive Committee based on the purpose
is supported at the highest level in the company.
(Excom) of an initial text May
The Group sees this purpose as a way of implementing authored by the
July th 2019
its broad vision of the company and demonstrating Sustainable Development, wi
2018 It
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its usefulness for all stakeholders, beyond simply Strategy and Human ll .
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created. The purpose is central to Veolia’s policy ea
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AT ALL GROUP
and fully integrates the new Impact 2023 strategic hi
ev • Presentation • Critical Friends Assesses
ac implementation of
to to the Board of consulted for 3rd time; LEVELS
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Veolia Integrated Report 2019 • 2020
ot Each in their respective
2018
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STRENGTHS BUSINESS MODEL VALUE CREATED IN 2019 CONTRIBUTION TO SDGs
Global expertise • Nearly 8,000 sites across the five continents CHANGING SOCIETY • Revenue of €27,189 million, Veolia contributes to a greater or lesser
• Regional player managing local services AND ENVIRONMENTAL CHALLENGE up 4.3% (at constant exchange rates) extent to implementing each of the 17 SDGs.
serving • 21 centers of excellence for the global roll-out Climate change and ecological transition • EBITDA of €4,022 million The Group particularly plays a major role for
all our customers of best practices Demographic growth and urbanization • Post-tax ROCE: 8.4% 13 SDGs whose challenges are directly
Technological progress / Digitalization • WACC (2): 5.3%
Stricter environmental regulations linked to Veolia’s Purpose
Changing lifestyles
High valued-added • Integrated approach to environmental issues Pressure of public opinion Shareholders • Dividend of €1 per share
• Expertise in managing the most complex issues, • 5-year TSR: +62.52%
know-how such as toxic pollution • Current net income earnings per share
OUR MISSION as of December 31, 2019: €1.37
Committed • 178,780 employees
RESOURCING THE WORLD Employees • 80% received training to maintain or improve
• 13 campus and training centers worldwide, Improving access to resources theirs skills
men and women located in 8 countries • 2.04% of share capital held by employees
Preserving resources
• 1,600 contributions collected through • 92% commitment rate for managers and
Replenishing resources
the “Inspire” collective strategy review 84% commitment rate for employees surveyed
OUR STRATEGIC AMBITION Planet • Revenue of €5.2 billion generated in the circular economy
• 78.2 million metric tons of CO2 eq. of reduced emissions
Extensive market • Balanced portfolio between municipal (52%) Be the benchmark company
at our installations since 2015
and industrial (48%) businesses for ecological transformation
presence combined • Solid European base with one-third of business • 33.2 million metric tons of CO2 eq. of avoided client
with financial strength in the rest of the world and a strong presence emissions since 2015
in dynamic markets (notably Asia, • 60.7% of methane is captured
North America, Latin America) OUR BUSINESSES • 71% of sites with significant biodiversity issues carried out
• Financial strength: net debt/EBITDA ratio of 2.66 a diagnosis and deployed a biodiversity action plan
Water Waste Energy
management management management
Deployed in our geographic zones by our employees, Customers • 70.6% recovery rate for treated waste
where our know-how enables us to invent, • 75.4% efficiency rate for drinking water networks
A climate strategy • Strategy validated by the SBT
develop and roll-out a wide range of solutions • 87% efficiency rate for heating networks
(Science Based Targets) initiative
consistent with • 98 million people supplied with drinking water and
the Paris agreement 67 million people connected to wastewater systems
• 42 million people supplied with waste
OUR CUSTOMERS
collection services
Veolia Integrated Report 2019 • 2020
Municipal Industrial
clients clients
Adapted governance • Diverse expertise within the Board of Directors Regions • 86.3% Share of expenditure reinvested in the regions
• Committee of external experts, • 922,122 jobs supported in the world
the “Critical friends”, consulted on the Groups • €45,711 billion of wealth creation in the world
strategic orientations (contribution to GDP)
• Multi-criteria compensation system • 10.7 million people connected to water systems
(including CSR criteria) for the Executive and 4.5 million people connected to wastewater
Committee, with annual and long-term systems in countries with poor access
components • 71% of active contacts in the supplier contract base
include the Group CSR clause
(1) Figures as of December 31, 2019. (2) WACC, Weighted Average Cost of Capital .
12
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LONG-TERM
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REVIEW OF THE 2016-2019 STRATEGIC PLAN eg
ua
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2016 2017 2018 2019 2020
The 2012-2015 transformation plan focused
on debt reduction through divestments,
Q4 2016 ROCE (return on Balanced End 2018 End 2019
return to profitability through a plan to cut costs return to capital employed) portfolio in 2018: • Targets for cumulative
and boost operational efficiency, rebalancing revenue >8% • industrial cumulative cost cost savings of
the portfolio between municipal and industrial growth clients 47% savings €1.05 billion
Performance of revenue achieved
clients and geographic zones, and development
of forecasting capabilities. Following this first plan,
> of the 2016-2019 • municipal (€800 million)
strategic plan End 2016 clients 53% • Further 10%
the aim of the 2016-2019 plan was to demonstrate 10% increase of revenue increase in
that Veolia was now master of its own destiny in dividend dividend
based on a self-funded model for economic growth.
Focused on two key areas – an organic growth
program rounded out by small acquisitions and Included in the
80% of business Business Digital Roadmap
an efficiency program – it aimed to generate positive covered by centers of transformation Dow Jones launched
annual free cash flow at constant capital employed Strategic choices excellence (innovation plan for Veolia Sustainability
and sharing of best Index Impact 2023
in order to raise the dividend by 10%. > and key stages
practices)
Water France
program
in Veolia’s
Move to V head office: annual Commitment to launched
development savings of €25 million and Science-Based
A plan that confirmed the effectiveness
improved cooperation Targets Initiative
of the model used between business units
Although the return to growth took slightly longer
than expected, the Group succeeded in achieving Excellent
Digitalization of tools and processes Positioning in health
all its targets, whether for average revenue growth, Plastics business renewal rate
Aspects of stepped up for water contracts, subsequently
of contracts
issues with the air
annual EBITDA growth or cost savings. At constant
capital employed, the company saw its results
> commercial extended to include all offers
at maturity
quality offer
improve markedly without adding further debt. dynamics
By confirming Veolia’s strong resilience and €40 million invested in the sales force: Business Development center of excellence, new Innovation, Development
setting it on the path to buoyant growth, and Markets Department, creation of the Sales Academy
the 2016-2019 plan placed the Group in
a position to make high-impact organizational
decisions (see presentation of the Impact
2020-2023 program on the following page) 2015 INDICATOR 2019
about businesses that are crucial for the
Although the 2016-2019 strategic plan
Veolia Integrated Report 2019 • 2020
environment and located in geographical €3.5 billion Circular economy revenue €5.2 billion
im
e. did not include any non-financial
regions with significant needs. of
t
aspects, Veolia nonetheless introduced
ds
p er
io an ambitious CSR approach in 2015 57% Methane capture rate 60.7%
ng together with quantified targets.
r lo
its
fo 6.5 million people given access New connections to drinking water and 10.7 million people given access
By implementing this approach,
m
m
to drinking water and 3 million sanitation systems since 2000 in countries to drinking water and 4.5 million
hc
o the Group was able to make
hi
c
progress in numerous social to sanitation systems with an access deficit to sanitation systems
dw
,a
n and environmental indicators
or
dl
ab (see all the CSR performance indicators 11.02% Injury frequency rate 8.12%
an on p. 46).
h ow
w-
no
lk
i ca
hn
ec
ft
lo
14
15
e
h lev
ig
ah
th
wi
1.
CHAPTER
s
er
ld
ho
USEFULNESS…
e
ak
st
ts
a ll i
…
to
S
ES
U LN
EF
US
i ts
IMPACT 2023: OUR STRATEGIC PROGRAM du
p on
de
FOR MULTIFACETED PERFORMANCE sf
ou
n
yi
e ri t
sp
p ro
’s
lia
eo
Impact 2023 is more than a multi-year plan – it is an Collective, er
fo
cu
s .V
… to raise Veolia’s ambition
enterprise project that traces a clear and ambitious route
defined by the Group’s purpose. It translates Veolia’s
in-depth work… nd
c us
t om
higher
na
commitment to making a positive impact for the planet Impact 2023 is the result of a collective co-creation process tio With Impact 2023, Veolia is setting itself the ambition of
va
no
and all the company’s stakeholders. Building on the results begun in April 2018. It is the result of five main stages that t , in being the benchmark company for ecological transformation:
p ec
of the efforts and refocusing of the past few years, Veolia now involved all levels in the company. es • by enabling clients, whether regional public authorities
,r
i ri t
sp
has the strength and confidence needed to set its ambition it y or industrial companies, to anticipate environmental risks,
un
even higher. It is an ambition that has been thought out, om
m reduce the impact on their business and adapt their model
,c
carefully constructed and revealed through its Impact 2023 ty to sustainable growth;
ili
ib
ns
strategic program. 1 2 fr
es
po 3 4 • by providing individuals with new solutions and ways to act
es
o
that let them make a strong environmental commitment
v alu
its while maintaining their own quality of life;
i th
en
tw • by empowering our employees through a shared,
is t
o ns meaningful action that produces concrete and positive results
Collective thinking Analyze the businessul
e sc Define the ambition: Quantify the ambition for the environment;
lr
portfolio ethica why, what, how? • by proposing to our shareholders a new model of
The initial discussion
d
te The ambition then
tri
bu
underwent detailed sustainable growth that is both financially rewarding and
phase involved more than In da second phase,
i s The ambition definition
ly- costing as part of a long- socially responsible;
900 employees the
wi
de entire business phase involved the
representing the
s
li portfolio was subjected
e following stages: term plan. • by acting to protect and conserve the planet’s resources and
pp
businesses in all the also a to a detailed review. • drawing up Veolia’s thereby combat all forms of pollution and climate change.
Group’s regions andothe . It The Board of Directors
i
ns purpose;
Group’s Management ul
at then decided the main
Committee. nd r eg
strategic directions • identifying the Group’s
s a
based on an in-depth various entities and 5
The calllefor law
their priorities for
contributions il c a
b
focused on analysis of past
p
performance and progress;
theimain th
ap challenges we
face w
through to 2023 growth potential • choosing a set of
ies
o
p l
m where Veolia can do for each of the business multifaceted
e o lia
c
something new, better or segments. performance indicators. Select and
,V
r at
es different, and the This phase involved all consolidate
to
pe priorities for the future. Veolia entities and the
ri
Critical Friends
Veolia Integrated Report 2019 • 2020
ve
e r e The 1,600 contributions After an initial selection
.W
h
collected were examined committee. It was shared
wn with 6,300 Group phase, the plan was
he
ir
o
by the Management consolidated, its targets
st Committee to inform the employees on a digital
c ta
platform. thoroughly determined
p ro
je
strategic directions. and its key performance
e
ti v
l lec A committee of indicators brought
o
ou
rc independent experts, the together in a dashboard.
t
ad
op Critical Friends, was also The Board of Directors
es
to consulted about the main approved this plan in
e
pl
oy global trends and issues. December 2019.
m
se
ge
u ra
co
en
h ich
16
17
,w
ue
og
d ial
c ial
so
s,s
er
ld
e ho
ak
st
ts
a ll i
1.
to
S
ES
U LN
EF
US
CHAPTER
i ts
p on
du
n de
ou
sf
yi
e ri t
sp
ro
sp
l i a’
eo
s .V
cu
fo
er
t om
us
n dc
na
tio
va
no
t , in
ec
sp
t,
re 3. Reinforce and reinvent our core business activities 4. Imagine and develop innovative solutions to anticipate
p ir i
it y
s to enhance their impact and performance and satisfy the essential needs of tomorrow
un
m
o m
,c
il it y Water: enrich our water and wastewater services, including These solutions principally concern:
ib
ns
s po innovative sludge management solutions and inclusive • health and new pollutants: e.g., indoor air quality,
re
of solutions to improve access to water, and reinvent our way treating micropollutants found in water and solutions
es
a lu
it sv of working with stakeholders, such as governance and for off-network access to drinking water and sanitation;
th
t wi consumer relations. • new material loops: e.g., recycle electric vehicle
en
is t Waste: transform the collection of non-hazardous industrial batteries and solar panels, capture and use CO2,
ns
co
u les and commercial waste, for example through new digital and pursue eco-design with industrial partners;
lr
ca
t hi services, and a better-scaled pricing policy established • food chain: e.g., bio-conversion of organic waste
e de
ut according to the quality of raw materials. into organic fertilizers or animal proteins,
r ib
st
di Energy: modernize and diversify our energy grid business by development of ecological aquaculture and
ly-
de
s wi transforming coal-powered heating networks through the urban farming solutions;
li e
pp
ls oa use of green energy, deploying new services for electricity • adapt to the consequences of the climate imbalance:
.I ta
ns grids and developing mini-heating or cooling networks. e.g., manage crises, prevent rising water levels,
io
at
e gu
l droughts and flooding, reuse water, and develop
dr
s an urban cooling islands;
law
bl
e • new energy services: e.g., improve electric flexibility
ic a
p pl and demand management, including virtual power plants
t ha
wi and energy storage, and microgrids;
Impact 2023: four strategic lia
co
m
pl
ies
• new digital services: develop control centers for water
moves to support treatment plants and distribution networks, interactive
o
Ve
s,
te
ra web-based platform for waste collection and recovery,
ecological transformation o pe
it
ve
r and artificial intelligence applied to waste sorting, etc.
re
he
n .W
1. Commit to multifaceted performance ow 2. Stepping up the pace of growth of our most complex Also, to manage the investment margins needed
eir h
a st operations, where Veolia’s differentiating expertise to develop the businesses generating greater impact,
t
j ec
Veolia seeks to focus equally on ro
e p the various types of represents high value added Veolia intends to slow or divest those with lesser impact
ti v
performance, all of whichcolcomplement lec one another and form and added value. In particular, this concerns businesses
r
a virtuous circle. t ou Three main categories of business are involved: that have reached maturity or those where the expertise
op
The Group has committed ad to 18 key performance indicators • prevention and clean-up of toxic pollution, has become commonplace.
to
e es
(see p. 49), which pl
oy cover the 5 types of performance: economic such as hazardous waste and industrial process water
em
and financial,ag
es commercial, human resources, social, treatment and soil decontamination; Continuing on from previous plans, this new program
ur
andenenvironmental.
c o Fulfillment of the objectives, which will • management of the use of resources and combating will be implemented rigorously and under financial
ch
behi audited annually by an independent organization, climate imbalance, including services to enhance energy conditions that are ambitious but kept under control.
Veolia Integrated Report 2019 • 2020
w
e,
gu will provide a basis for the variable remuneration awarded efficiency of industries and buildings, plastics recycling, The success of the previous strategic stages has placed
al o
l di
oc
ia to Veolia senior executives. refuse-derived fuel production, biodegradable waste the Group on the road to profitable and sustainable growth.
,s
es recovery, and industrial ecology services such as circular Veolia is now on an ideal trajectory to strengthen and extend
o di
eb
ta
ti v economy loops and pooling utilities on industrial parks; its action through Impact 2023.
en
• contributions to solutions to adapt to climate change,
such as reusing wastewater and seawater desalination.
18
19(…) “In the conduct of our current businesses
in water, waste and energy, we provide our
public and private customers worldwide
with solutions that facilitate access to essential services
and natural resources, and that efficiently conserve,
use and recycle those natural RESOURCES P. 22.
Improvement of our environmental FOOTPRINT P. 24
and that of our customers is central
to our business and its economic model.
We are a company that is both local and global
with a high level of technical KNOW-HOW P. 26 and labor,
and which commits for long periods of time.
We guarantee long-term results for our customers by leveraging our long experience, the quality of our services
and our high capacity for INNOVATION, P. 30.”
(…)
Veolia Integrated Report 2019 • 2020
20
212.
CHAPTER
Bordeaux
Nîmes France
France
A new public service
High-level technology, delegation contract
transparency and quality for waste recovery
consumer relations are and management was
the reasons why Veolia signed by Veolia and
won the contract for the city of Bordeaux
Al-Zour drinking water production in September 2019.
Kuwait and distribution for the city Worth €405 million,
.
RESOURCES…
c es of Nîmes. The region’s it also includes waste
o ur
es
ra
lr The Kuwait Integrated 261,000 residents will treatment for a population
…
u
at
os
e n Petroleum Industries gain access to an of 770,000 for a period
th
cle Company (KIPIC) chose impeccable service relying of seven years.
e cy
dr Veolia to operate and on digital technology Around €35 million will
WORLDWIDE, WE PROVIDE OUR PUBLIC AND PRIVATE ,u
se
an
maintain the future to keep users informed, be invested to upgrade
ve
CUSTOMERS WITH SOLUTIONS TO CONSERVE
r
se
n wastewater treatment improve facility the three recovery facilities
Hancheng
co
tl y
RESOURCES, USE THEM EFFICIENTLY AND RECYCLE THEM fi cie
n plant at its Al-Zour refinery. management, identify to include automation
ef
ha
t With a daily production leaks and prevent risks. China or artificial intelligence
dt
an capacity of 615,000 barrels, More than 2,500 connected systems, and to ensure
S,
CE it is one of the world’s objects will be installed The Shaanxi Longmen their upgradability in
O UR
R ES largest petrochemical throughout the network Coal Chemical Company, anticipation of increasingly
al
at
ur complexes. to feed data into located in Hancheng, stringent European
n
nd Under a seven-year the “Hypervision 360” on the Yellow River, regulations.
sa
ice
ls
e rv contract, the facility management system comprises two major The energy recovered
t ia
ss
en will treat and recycle (see p. 28). players in the coking from the incinerated waste
e
Bordeaux ss
to 1,500 cubic meters of and chemical industries. will be used to heat around
ce
e ac wastewater a day, and This joint venture has 34,000 homes and produce
t at
ili
ac incinerate the sludge contracted Veolia to build electricity for
tio
ns
th
a tf
with the aim of achieving Lima a “zero liquid waste” facility 100,000 households.
o lu “zero liquid waste”. Peru adjacent to its wastewater In this way, Veolia will be
t hs
e wi This contract is further treatment plant. helping Greater Bordeaux
w id
rld proof that Veolia’s expertise More than The site aims to achieve achieve its target of being
s wo
er in the integrated 600,000 connections optimum wastewater an energy-positive region
o m
u st
at
ec management of natural serving 3.87 million reuse and limit by 2050.
iv
d pr resources is strategic people are the defining the environmental impact
an
b li c and highly sought after figures of the contract of its industrial businesses
pu
ur
eo by industry in this region signed between Sedapal, by bringing them into
v id
ro of rapid growth. the Lima drinking water compliance with
ep
,w
r gy and wastewater service, increasingly stringent
e ne
ea
nd and Veolia. This three-year environmental regulations.
t
as contract includes water
r, w
a te
nw meter supply, installation Treatment capacity:
si
s se and reading, business 450 cubic meters /h
si ne
bu management and
Veolia Integrated Report 2019 • 2020
nt Site construction time:
re
c ur network maintenance 10 months
r
f ou
uc
to (it does not include Commissioning date:
on
d
the water supply or December 2020
ec
th
In wastewater system). Contract term: 15 years
22
232.
CHAPTER
AngloGold Jump
Ghana (Uber)
France
The mining sector requires
massive natural resources, In addition to large
especially water, which is industrial sites and
forcing it to contain networks, Veolia also
the environmental impact helps reduce the footprint
of its business. In southern of other types of actors
Danone Ghana, AngloGold has that are now an integral
(Nutricia Cuijk) contracted Veolia for three part of the urban landscape.
Netherlands years to operate and Jump, which manages
maintain four wastewater a fleet of around
In 2019, Danone opened and two drinking water 5,000 electric bikes
the Nutricia Cuijk site in treatment plants at its and 1,000 scooters in Paris,
the Netherlands, which Obuasi gold mine. has signed a partnership
produces specialized infant Expert management of contract with Veolia
food. Veolia worked with the process water will to collect and recover
Danone throughout the key result in compliance with a minimum 90% of all
AngloGold
design and construction the regulations governing materials from its vehicles’
phases, applying its discharge into the used parts: batteries,
FOOTPRINT…
expertise and technological ecosystem. metals, plastics and
innovations – in particular, electronic components.
… the Hubgrade smart
management system
(see p. 28) – to minimize Braunschweig
LONG-TERM SUPPORT TO HELP OUR CLIENTS IMPROVE the site’s carbon footprint Germany
el .
THEIR ENVIRONMENTAL FOOTPRINT m
od and maximize its energy
ic
om efficiency. Under this The city of Braunschweig
c on
se
nd
i t ten-year services contract, has contracted Veolia for
sa
in
es Veolia will ensure the twenty years to operate its
s
bu availability and optimum electricity and reticulated
ur
oo
lt use of air, steam, process gas network concessions,
tr a
en
sc water – used in the actual starting in January 2021.
si
er
us
to
m products – along with water Under this contract, worth
rc
o fo
u treatment. As a major new an estimated cumulative GREENPATH: A COLLECTIVE INNOVATION
at milestone in the alliance
dt
h total of €2.6 billion, the TO CALCULATE THE ENVIRONMENTAL FOOTPRINT
an
NT between the two groups Veolia subsidiary BS|Energy
PR
I OF VEOLIA’S SOLUTIONS
O T that started in 2016, will deliver efficient
l FO this contract will contribute electricity and gas supply After several years of development, the collective
ta
m
en
to Danone achieving its at affordable prices while GreenPath project – a platform for assessing clients’
ir on carbon and water footprints – was presented at the
nv target of “zero net carbon” also meeting the strictest
u re Impact Awards (see p. 37). Conceived jointly by several
fo Group departments and business units, it is a powerful
to by 2050 and to further environmental standards.
en
e m
improvement in Veolia’s Network upgrades will tool for decision-making, as it can compare the impact
ov of several solutions and show clients those which best
pr
Danone (Nutricia Cuijk) es
. Im operational performance. include the addition of meet their needs in terms of efficiency, innovation,
c
ur savings, regulatory obligations and environmental
renewable energy plants,
Veolia Integrated Report 2019 • 2020
o
es
lr performance targets.
ra
n at
u the development of electric GreenPath will be regularly updated to include feedback
se
t ho mobility, and the from an international carbon community and a network
cle of local coordinators who identify and share
ec
y introduction of digital
n dr the necessary changes directly with end users.
us
ea solutions for customer
e,
e rv interaction and to ensure
ns
co
tl y leading-edge maintenance.
i en
f ic
ef
at
d th
an
s,
ce
o ur
es
lr
ra
a tu
dn
24
25
an
es
r v ic
l se
t ia
en2.
KNOW-HOW…
CHAPTER
…
GLOBALLY RECOGNIZED
AND SOUGHT-AFTER EXPERTISE
IN HAZARDOUS WASTE MANAGEMENT Services after Complex
industrial accidents decommissioning
Saudi Arabia Following a fire at the Lubrizol plant in Rouen, France, Graphitech is a joint structure created in December 2019
in September 2019, Sedibex (operated by Veolia) was by EDF and Veolia, based on their respective subsidiaries
contacted to treat the hazardous waste from the fire. Cyclife Holding and Asteralis, to handle decommissioning
Lasting several weeks, this operation mainly involved of nuclear reactors using graphite technology. Dismantling
incinerating the hazardous waste at between 900 °C these reactors is particularly complex due to their design
and 1,000 °C, including the metal remains of burned drums and the volume of material to be removed. Globally, only 2,
and the water used to extinguish the fire. The Group has small-capacity graphite reactors have been decommissioned
long-standing and recognized expertise in handling such so far out of the 60 or so in existence.
situations. After the tsunami that struck Fukushima, Japan, By developing the necessary technology and engineering,
in March 2011, Veolia was among the first to provide Graphitech may be in a position to meet decommissioning
services to TEPCO, in particular to treat the 80,000 cubic needs in France, the United Kingdom, Spain, Italy, Lithuania
meters of high-level radioactive effluent and provide and Japan.
remote access technology to inspect and repair the reactor
confinements.
,
or
d lab
an
OW
-H
OW
KN
Hazardous waste
l
ca
ni
Saudi Arabia Kuwait t ec
h
of
management Sadara Chemical Company, In November 2019, ah
ig
hl
ev
el
i th
Focus on the Middle East a joint venture between the Kuwait Oil Company a lw
ob
Saudi Aramco and The Dow contracted Veolia to build d gl
an
al
Chemical Company, has and operate a low-level oc
t hl
United Arab Emirates maintain the plant, signed an agreement radioactive waste storage bo
is
at
Veolia will supply with Veolia for the and treatment facility. y th
p an
Veolia has signed a four-year the equipment and construction and operation Veolia will also provide ac
om
e
contract to treat personnel needed to of a waste-to-energy detection and inspection e ar
W
non-radioactive solid take delivery, sample, recovery plant near Jubail of the radioactivity of
waste and hazardous sort, store, package, to treat hazardous waste. drilling equipment,
waste at the Middle East’s transport and dispose This long-term contract together with its
first nuclear power plant, of waste in accordance requires Veolia to treat transportation,
Barakah. Under the with the company’s all the waste from confinement and storage
agreement reached procedures and regulatory the PlasChem Park industrial prior to decontamination.
Veolia Integrated Report 2019 • 2020
with Nawah Energy requirements. park adjacent to the Sadara
Company, which the Chemical complex.
Emirati authorities have The energy recovered
selected to operate and from the waste will el .
od
be used to generate ic
m
om
industrial process steam, on
ec
its
heat, water and cold sa
nd
es
for the entire park. u sin
rb
o ou
lt
tr a
en
i sc
rs
26
27
e
m
to
c us
o ur
of
at
thn
ra
ua
eg
W
e.
im
o ft
ds
io
er
2.
n gp
r lo
fo
its
CHAPTER m
c om
ch
w hi
nd
,a
or
l ab
a nd
O W
-H
OW
l KN
ic a
hn
ec
KNOW-HOW…
o ft ADVANTAGES OF
el
l ev
gh THE HUBGRADE SYSTEM
…
i
ah
i th
lw
lo
ba Responsive collaborative work
n dg with the client at
la
th
lo
ca
USE OF DIGITAL TO ENHANCE SERVICES BUT WITH the heart of the system.
bo
th
a ti
s
A BALANCE BETWEEN PEOPLE Conservation and optimum use
of natural resources.
m
pa
ny
AND TECHNOLOGY
co
ea Predictive, targeted
maintenance, and rapid
correction of underperformance.
Transparency and trust
throughout the term
of the contract.
Hubgrade, Savings and improved
a smart control center experience for the client.
In all its businesses, the Group is boosting
its expertise by using digital technology and 8,500 sites or contracts
connected to a Hubgrade
data processing to improve service performance system worldwide in 2019
and the quality of the client experience.
Hubgrade in Spain:
At the center of this approach is Hubgrade, - 5 control centers
a smart control center created by Veolia - 2,200 sites monitored
- 25,000 sensors
to centralize and analyze for its clients data
and meters
gathered on the water, energy and waste services
provided. Using a single portal, an operator or
technical department can access several types
of indicators, such as industrial site or wastewater
treatment plant energy efficiency, the fleet With Bob, AI is
of water meters, remote meter reading data, etc.
For the client, this creates additional value,
now on the team
a key factor in performance. The “Bob Assistant” monitoring is very useful
The Hubgrade systems involve communities connected unit has for detecting any changes
of experts who have in-depth knowledge of acquired a central position before a machine breaks
all aspects of a contract and are able to contextualize at the Angers, France, down. In doing so,
and analyze the data for both day-to-day operation wastewater treatment it helps with predictive
and crisis situations. Hubgrade is an excellent example plant. After an initial maintenance and avoids
of the “copy and adapt” approach adopted by learning phase, this excessive energy
Veolia to disseminate expertise and best practices onboard artificial consumption.
between businesses and geographic regions. intelligence system The Angers plant currently
The concept, introduced in 2015 in the area of energy continuously monitors has 14 Bob Assistant units
efficiency, has subsequently been rolled out globally machines using data installed and there are
and now covers all businesses. Much more than collected directly from the around 100 others
an IT project, it is an organization that brings machine itself. In the event at Veolia sites in France.
together the power of data and detailed human analysis. of any abnormal vibrations They monitor equipment
For the Veolia teams, it has also ushered in new or temperature changes, round the clock, helping
working methods and improved the skills of employees Bob Assistant sends a teams provide the most
in the field for collecting the data fed into the system. warning. This real-time efficient service possible.
28
29.
2.
ON
TI
VA
NO
CHAPTER IN
or
yf
ci t
a pa
g hc
hi
o ur
nd
sa
ice
e rv
u rs
fo
t yo
ali
qu
he
e ,t
ie nc
er
e xp
ng
lo
ur
n go
a gi
er
y lev
sb
er
om
u st
u rc
ro
fo
ts
s ul
re
rm
te
n g-
lo
ee
a nt
u ar
eg
W
e.
t im
of
ds
io
er
INNOVATION…
gp
on
o rl
it sf
…
m
o m
c hc
hi
dw
an
PREVENTING PLASTIC POLLUTION: With With With
A GLOBAL CHALLENGE FOR US ALL
Nestlé Reckitt Carrefour and WHAT IS THE CURRENT SITUATION WITH
an
dl
a bo
r,
Nestlé and Veolia have Benckiser Système U THE ALLIANCE TO END PLASTIC WASTE?
ow
joined forces to develop
ow
-h
collection and recycling To encourage the Taking action upstream This initiative was launched in January
kn
ic a
l
solutions for plastics in transition to a circular to reduce single-use plastics 2019 by a group of multinationals,
hn including Veolia,(1) that operate across the
ft
ec
around 10 countries. plastics economy, in the consumer sector
e lo entire plastics and consumer
h lev Soft plastic packaging, the health, hygiene is the purpose of (Re)set, goods value chain. The Alliance is
ig
ah and cleaning product a platform that Veolia has determined to come up with solutions
i th a major source of to eliminate plastic waste from
lw group Reckitt Benckiser (RB) now joined alongside
ba environmental pollution the environment, especially
lo
dg and Veolia have signed retailers Carrefour and
la
n
on most continents, the world’s oceans.
ca
lo
is the main target of a partnership agreement Système U. This open
o th The Alliance at end 2019:
i sb to improve the recyclability innovation program
h at this partnership. • 42 members;
yt of packaging and to design identifies disruptive
pa
n
In addition to rolling out • 12 projects supported, of which
om 5 have a global impact;
ac innovative collection it using a maximum solutions – paper or board
ea
re • a commitment to invest US$1.5 billion;
W circuits, the two companies amount of recycled plastic. packaging, reusable • an Incubator Network to develop
are examining new viable In this way, RB aims packaging, new sales and promote initiatives that
to achieve its 2025 systems and new materials – prevent plastic waste from
recycling models for Each entering the sea;
the countries concerned. commitment to using as alternatives to single-use European • an open-source information base
only fully recyclable, plastic. The pilot phase uses 80 kg to share data, standards and methods
By 2025, Nestlé undertakes
Veolia Integrated Report 2019 • 2020
of plastic worldwide, and to step up the fight
to ensure that all its reusable or compostable began after selecting per year against plastic pollution in the oceans.
packaging is recyclable plastic packaging the best projects in (source:
International (1) See the 2018 Integrated Report, p. 29.
and wants to raise the comprising at least 25% September 2019. It aims Energy Agency)
amount of recycled plastic recycled material. to validate both the
80% of ocean
in its plastic bottles to 35%. production and commercial plastic comes
viability of the concepts from land-
Veolia is determined based sources
to help its partner achieve adopted with a view to their
(source: Ocean
this target. rollout in the near future. Conservancy)
30
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