An ambitious 2030 sustainability roadmap

Defining Group priorities together with our stakeholders

From October 2023 to January 2024, SPIE conducted an assessment of the main issues that could have an impact on its financial and non-financial performance. This analysis was essential to prepare for the implementation of the CSRD within the Group and provide input for the Group's sustainability roadmaps.

Our materiality matrix

SPIE's double materiality matrix highlights the issues that are most important to the Group in terms of their financial and non-financial impacts. Top of the list of issues are: climate change, the shortage of skilled labour and cyber risks.

Objective and procedures

The purpose of the assessment conducted at the end of 2023 was to identify the issues with the most significant – or material – impacts, risks and opportunities for SPIE, whether environmental, social or governance-related. The data obtained were then used to establish SPIE's new materiality matrix, which provides an overview of these issues. The assessment covered the main markets and countries in which SPIE operates and was conducted in five languages: English, Dutch, French, Polish and German. An initial list of potentially significant issues for SPIE was drawn up at the end of October 2023. This was then used as a basis for questioning the various stakeholders from the end of November 2023 to the beginning of January 2024.

A five-step methodology

1. Research conducted by an independent body on SPIE's operating environment and value chain, gathering relevant documentation and publicly available sources.
2. Definition by this body of a list of major impacts, risks and opportunities for SPIE, based on a comprehensive review of the Group's current operating environment.
3. On this basis, the independent body and SPIE's project team drew up a list of around fifteen key impacts, risks and opportunities.
4. Discussions about this list with stakeholders and senior management, inviting them to rank the issues according to their level of priority.
5. Reporting the results in the materiality matrix.

Objective 1: to contribute to a low-carbon economy

SPIE plays a key role delivering reliable, field-proven technical solutions that support the low-carbon transition which is reflected in our purpose.  The company’s expertise spans energy efficiency, renewable energy, and low-carbon mobility. SPIE has been calculating the green share of its turnover using EU Taxonomy for sustainable activities since 2019 and this remains one of the strategic priorities.

In 2024, 49% of SPIE’s revenue was aligned with the climate criteria of the European Taxonomy, placing SPIE among the top performers in its sector. This high performance reflects SPIE’s strategic focus on energy transition markets and serves as a robust indicator of its environmental impact, business resilience, and alignment with EU climate goals.

In the period of 2026-2030 SPIE aspires to reach more than 50% of its turnover aligned with the EU Taxonomy criteria despite the acquisitions.

Objective 2: to reduce SPIE's carbon footprint

This year SPIE has set new 2030 climate targets validated by SBTi, which will succeed those of 2025. These 2030 targets are (related to 2019 baseline) :

• a 50% reduction in scopes 1 and 2 greenhouse gas (GHG) emissions
  The SBTi has confirmed that this target is in line with a trajectory that contributes to achieving the most ambitious goal of the Paris Agreement: limiting global warming to 1.5°C;
• a 55% reduction in carbon intensity for scope 3 emissions, which corresponds to an absolute reduction in emissions of around 22%.
  It also validated SPIE’s Scope 3 target that aims to reduce emissions across its entire value chain relative to the added value created by the company. This target now includes the use of all equipment installed by SPIE at its clients' premises and not only the emissions that occurred during the manufacturing phase of the equipment we install at their premises.

In order to achieve these targets for Scope 1 and 2 the main decarbonisation lever will remain the electrification of the vehicle fleet.

SPIE has also identified the following decarbonisation levers to reduce scope 3 emissions throughout its value chain:

• 17% of emission reduction should result from the reduction in the carbon intensity of the European electrical grid.
• The remaining levers include:
• Ecodesign of purchased equipment
• Increased use of energy‑efficient equipment
• Engineering and design of low‑carbon solutions adapted to the operational challenges of customers and projects
• Use of reused products and equipment
• Maintenance extending the life of equipment 

Objective 3: to strive for excellence in terms of safety

Occupational health and safety remains SPIE's top priority and responsibility to its employees.  For the new objectives SPIE changed from measuring the absolute number of severe accidents to the average rate of serious accidents. This allows for fair comparison across subsidiaries by taking into account the changes in organisational scope and business activity.  The new target is to reduce the average rate of severe accidents by 30% by 2030. This applies to both SPIE employees and temporary workers in all subsidiaries.

To achieve this goal the action is taken regarding compliance, prevention, skills development, leadership and subcontractor relations.

Objective 4: to increase the number of women in management

SPIE, by steadily promoting gender diversity, has a positive impact on society. Gender diversity drives our performance, enhances our leadership and innovation skills, and supports our efforts to attract and retain talented employees.

For 2030, SPIE has extended the perimeter and set a new objective now aiming to increase the number of women in both top and middle management positions by 20% compared with 2025.  

Gender diversity stays as a requirement for any shortlist prepared to support the recruitment of top and middle management positions. SPIE ensures that internal training and development programmes include a significant proportion of women to encourage internal promotion. Lastly, numerous initiatives are carried out throughout SPIE to raise young women’s awareness on SPIE supporting the energy transition and digital transformation.