contingencies, as well as Covid-19 related delays such as the
total shutdown of worksites for several weeks and reduced
availability of design offices/contractors. There is also more
clarity around the target cost for the project, which now
stands at 36.1 billion, 1.4% more than estimated in 2018.
This regular transparency exercise has been supported by
our growing knowledge set and risk management expertise.
Through this, Société du Grand Paris is making a name for
itself as a responsible programme manager, providing its
partners with all the information they need to track the
project s progress in real time. After raising 8 billion in 2021
6.5 billion under the 100% green EMTN programme and
1.5 billion from the European Investment Bank the project
had secured a total of 25 billion in financing by the end of
2021, including 22.5 billion raised under the 100% green
financing programme. This is a clear vote of confidence in
the Société du Grand Paris project and its leading position
Société du Grand Paris is making a name for itself as a responsible programme manager, providing its partners with all the information they need to track the project s progress in real time.
as a green bond issuer. The last key theme
in 2021 was commitment, in particular to
reduce carbon emissions from building the
metro by 25%. There are various
environmental challenges in the urban
environment. Our stakeholders, who
breathe life into our cities, must design and deploy solutions
to address these without delay. Our duty as a major
programme manager is to tackle these challenges head on
in an exemplary way, delivering solutions that are both
appropriate and sustainable. The goal of building a transport
system like the Grand Paris Express is to provide a robust
and sustainable alternative to more polluting means of
transportation and to help rebalance local areas alongside
urban strategy. Ahead of considering carbon emission
reduction, worksites will need to consider environmental
challenges more carefully during their construction phase.
The solutions we use today include
low-carbon/ultra-low carbon
fibre-reinforced concretes, converting
clay spoil into an alternative binder,
and re-using excavated materials in
construction processes. These are
implemented with the help of our partners to reduce our
environmental footprint from construction work. We are
incentivising operators in the industry who bid for our more
stringent contracts by introducing an innovation reward
system.
As far as possible, the excavated material from our worksites
is shipped out by means of transport other than road. So far,
this has mainly been by river. The spoil also helps establish a
circular economy through ambitious recovery operations,
including raw earth recovery. By setting new, more
ambitious and more challenging objectives, by ensuring
through the unfailing commitment of all our employees
that we stay firmly on track and on target, and by promoting
innovation at all levels and all stages, Société du Grand Paris
intends to contribute to the essential task of realigning the
city-building professions to the challenges of our time.
Jean-François Monteils, Chairman of the Management Board,
Bernard Cathelain, Member of the Management Board,
Frédéric Brédillot, Member of the Management Board
Message from the Management Board