Economic and financial KPIs

In accordance with the applicable reporting obligations, and in line with the “Accounting standards and supplementary information pursuant to Regulation 852/2020”, the Group has calculated the percentages of turnover, CapEx and OpEx related to its Taxonomy-aligned activities, and eligible but not aligned activities (see Tables 6, 8, 10 and 12 for details). Also, as a result of the amendments made by the Environmental Delegated Act, supplementary Tables 7, 9 and 11 were introduced, indicating the eligibility and alignment percentages for each environmental goal.
In this context, Acea considers it important to underline that the percentages reported do not represent a summary of the Group's sustainability performance, as set out in this document, but correspond to the specific reading required by Regulation 2020/852 in relation to the environmental goals defined therein. As such, these indicators should be considered limited to the purposes of the Taxonomy and separate to the broader scope of the ESG sustainability initiatives promoted by the Group.
Considering the Group’s economic performance as at 31 December 2023, aligned turnover amounted to 33% of the total, while eligible but not aligned turnover was 8%. 72% of Acea’s total CapEx is aligned (8% eligible but not aligned) with the Taxonomy, while 69% of OpEx is Taxonomy-aligned (7% eligible but not aligned). Please note that a residual part of the three KPIs (11% of turnover, 4% of total CapEx and 9% of OpEx considered under the Taxonomy43 and attributable to the companies outside the reporting boundary of the NFS) is not subject to assessment.

Chart no. 8 – Percentage turnover, CapEx and OpEx attributable to Group activities that are aligned, eligible but not aligned, not eligible and not assessed

Chart no. 8

Chart no. 9 – Taxonomy-aligned CapEx, OpEx and Turnover percentage shares, by business

Chart no. 9

The reading of the data by business highlights the specific contributions to the group alignment, in particular:

  • of the Group's total 2023 turnover of €4.649 million, €1.897 million is attributable to eligible activities and €1.543 million of this is aligned to the Taxonomy. The businesses that contribute the most to alignment are Water, with 72% of total turnover aligned (1,104 million) and Energy Infrastructure with 26% (400 million);
  • out of total Group CapEx in 2023 considered for the purposes of the Taxonomy, which amounted to €1,168 million, €922 million are attributable to eligible activities, of which €837 million are Taxonomy-aligned. The businesses that contribute most to alignment are Water and Energy Infrastructure; in particular, investments in Water, with 63% of the total CapEx aligned (530 million) and 31% of Energy Infrastructure (262 million);
  • of the Group’s total 2023 OpEx considered for Taxonomy purposes, amounting to €210 million, €160 million is attributable to eligible activities and 145 million of this is aligned. Once again, the businesses contributing most to alignment are Water, with 78% of the total OpEx aligned (113 million) and Energy Infrastructure with 12% (17 million).

Acea has drawn up a Green Financing Framework and, on the basis of this, in January 2023 issued a Green Bond, totalling €700 million to support initiatives focused on four main areas: water resource management; energy efficiency; circular economy; and green energy. With regard to the KPIs on capital expenditure and turnover set out above, there is a contribution from green bond issuesfor the year 2023 amounting to €219 million or 19% of eligible CapEx.

43 The above values of Turnover, CapEx and OpEx are in accordance with the guidance provided by the Disclosures Delegated Act and calculated in line with the accounting standards section