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PARIS - French ecological transformation company Veolia (PARIS:VIE), a prominent player in the Multi-Utilities industry with a market capitalization of $25.7 billion and annual revenue of $46.3 billion, and the Agence Française de Développement (AFD) signed a three-year strategic partnership agreement on Friday to collaborate on environmental services and sustainable development initiatives in developing countries.
The partnership will focus on regions including Latin America, Central Asia, the Balkans, Africa, and the Middle East, combining Veolia’s technical expertise with AFD’s implementation capacity to address environmental challenges.
The collaboration targets three key sectors: water and sanitation, waste management, and energy. Specific objectives include reducing inequalities in water access, preserving water resources, improving waste management governance, developing circular economy solutions, advancing bioenergy innovation, and decarbonizing district heating networks.
"We are proud to join forces with AFD to amplify our positive impact on sustainable development," said Estelle Brachlianoff, CEO of Veolia, in the press release statement.
Rémy Rioux, CEO of the AFD Group, noted that the organizations already have a history of collaboration on projects in Chad, Guinea, and the Balkans through Veolia’s subsidiary Seureca.
The partnership will include technical workshops, exchanges, and site visits to promote dialogue between the organizations, along with joint Corporate Social Responsibility initiatives.
Veolia, which provides drinking water to 111 million people and sanitation services to 98 million, reported consolidated revenue of €44.7 billion in 2024. The company has maintained dividend payments for 25 consecutive years, currently offering a 3.42% yield. The AFD Group operates in more than 160 countries with over 4,000 projects aligned with the Sustainable Development Goals. For detailed financial analysis and additional insights, including the comprehensive Pro Research Report covering what really matters about Veolia’s performance, visit InvestingPro.
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