Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainability
• Circular Economy

Environmental Achievements

• Examples of award winning circular buildings built by VolkerWessels are The Edge and Park 20|20, both in and near Amsterdam, the Netherlands.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• The Company’s business, results of operations, financial condition and prospects are affected by the cyclical nature of the construction industry, which is exacerbated during economic downturns.
• The Company operates in highly competitive markets and may lose business to competitors or otherwise be unable to compete effectively.
• The Company is exposed to significant counterparty credit risk, including clients, suppliers, subcontractors and joint venture partners, and is therefore exposed to the risk of default by, or the insolvency of, such counterparties, which may result in additional liabilities for the Company.
• Rising interest rates or inflation could reduce the demand for the Company’s services as well as decrease the Company’s profit on its existing contracts, in particular with respect to its fixed-price contracts.
• Failure to properly manage projects, or project delays, may result in additional costs or claims and adversely affect profits and cash flows.
• The Company’s success is dependent upon its ability to hire and retain qualified personnel and match the Company’s workforce with business demands.
• The Company relies on subcontractors and suppliers to complete certain projects who may not be available at commercially acceptable terms.
• The Company’s use of partnerships and joint ventures exposes it to risks and uncertainties, many of which are outside of its control.
• Any failure of the Company’s management information and internal control systems may adversely affect its ability to implement its business strategy and adequately respond to unfavourable developments within the Company’s companies.
• Construction and maintenance sites are inherently dangerous workplaces.
• Failure to comply with regulations or respond to changes in regulations or governmental procurement policies could result in significant liabilities and adversely affect the Company’s business.
• The Company may be adversely affected by violations of anticorruption, anti-money laundering, anti-bribery and competition laws.
• The realisable value of the Company’s land bank may be lower than expected and the Company may be unable to maintain a high-quality land bank.
• The Company’s order books are not necessarily indicative of its future revenue or results due to possible cancellations or scope adjustments.
• Unsuccessful tender procedures may result in significant nonrecoverable tender costs.
• The Company is exposed to the risk of strikes, work stoppages and other collective action or bargaining.
• Failure to comply with the covenants and conditions under the Company’s debt and credit agreements may cause the Company’s debt to become immediately due and payable and restrict the availability of future borrowing.
• Acquisitions involve risks that may negatively impact the Company.
• Changes in tax treaties, laws, rules or interpretations or the outcome of tax audits could have an adverse effect on the Company.
• There is uncertainty in the Dutch market in relation to the status of independent contractors for wage tax and social security purposes and this uncertainty may influence the Company’s decision to use the services of these contractors in the future.
• The Company uses subcontractors to perform part of its contracting work and to manage workflow in the Netherlands.

Mitigation Strategies

• VolkerWessels closely monitors such technological developments and is proactively incorporating such technology into its business.
• VolkerWessels has implemented management information and internal control systems, such as regular management reporting and business control and internal approvals framework.
• VolkerWessels typically seeks to hedge its exposure to commodity price fluctuation through, for example, fixed price contracts with its subcontractors or suppliers, price indexation agreements with its clients or through financial hedges, if available on commercially acceptable terms.
• VolkerWessels maintains commercial insurance at a level management believes is appropriate against risks commonly insured in the industry.
• VolkerWessels operates a disciplined working capital management process across its operating companies with monthly reporting and discussions involving the finance directors of the operating companies and the CFO.
• The prior consent of the Management Board is always required for the contracting of large project and financing agreements.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• MorgenWonen concept

Awards & Recognition

• Not disclosed