Icade SA is a diversified French real estate investment trust (REIT) headquartered in the Paris area, specializing in commercial property investment and development. Founded in 1954 as a subsidiary of... Icade SA is a diversified French real estate investment trust (REIT) headquartered in the Paris area, specializing in commercial property investment and development. Founded in 1954 as a subsidiary of Caisse des Dépôts et Consignations, it manages a portfolio valued at approximately €6.4 billion in fully owned assets as of late 2024, encompassing offices, business parks, healthcare facilities, shopping centers, warehouses, and public sector properties. The company operates through key segments including Commercial Property Investment, which focuses on holding, developing, and renting office buildings and business campuses, and Property Development, involving the sale of built assets. Icade SA emphasizes sustainable practices, urban regeneration, and long-term asset management, particularly in healthcare with high-occupancy clinics and facilities under stable leases. Major shareholders include the French government via Caisse des Dépôts (39.2%) and Crédit Agricole Assurances (18.85%), underscoring its strong institutional backing. With subsidiaries like Arkadea and ANF Immobilier, Icade SA plays a pivotal role in shaping responsible real estate across France, contributing to eco-friendly urban environments and community-focused projects.
In 2025, Icade was subject to the Corporate Sustainability Reporting Directive (CSRD)'s requirements, which mandated the company to publish EU Taxonomy disclosures.
The company reported the eligibility and alignment of Turnover, Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) with the EU Taxonomy, helping assess the extent to which its business activities align with Europe's environmental sustainability goals.
Icade has also provided an activity-level breakdown of its EU Taxonomy disclosures. This granular reporting enhances transparency around which economic activities of Icade are considered environmentally sustainable and contribute to at least one of the six environmental objectives defined under the EU Taxonomy framework.
Metric
2025
2024
2023
2022 - 2017
Total Taxonomy Aligned Turnover
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Total Taxonomy Eligible Turnover
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3.1 CE - Construction of new buildings, 7.1 CCM/CCA - Construction of new buildings
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a
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c
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3.2 CE - Renovation of existing buildings, 7.2 CCM/CCA - Renovation of existing buildings
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a
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c
0000000
7.1 CCM/CCA - Construction of new buildings
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0000000
7.2 CCM/CCA - Renovation of existing buildings
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0000000
7.7 CCM/CCA - Acquisition and ownership of buildings
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a
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b
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c
0000000
Metric
2025
2024
2023
2022 - 2017
Total Taxonomy Aligned Opex
0000000
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b
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c
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Total Taxonomy Eligible Opex
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c
0000000
Metric
2025
2024
2023
2022 - 2017
Total Taxonomy Aligned Capex
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c
0000000
Total Taxonomy Eligible Capex
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0000000
7.2 CCM/CCA - Renovation of existing buildings
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a
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0000000
7.3 CCM/CCA - Installation, maintenance and repair of energy efficiency equipment
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a
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c
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7.4 CCM/CCA - Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings)
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a
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b
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c
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7.5 CCM/CCA - Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings
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a
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c
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7.6 CCM/CCA - Installation, maintenance and repair of renewable energy technologies
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a
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7.7 CCM/CCA - Acquisition and ownership of buildings
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a
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c
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Limited Data Preview
You are viewing a limited preview of Icade’s EU Taxonomy dataset. The full dataset, available for download, includes eligibility and alignment metrics for turnover, CAPEX, and OPEX across all EU Taxonomy categories, at both aggregate and activity level, with historical coverage back to 2022.
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a. Icade's Universal Registration Document (URD) 2025
b. Icade's Sustainability Report 2024
c. Icade's Universal Registration Document (URD) 2023
d. Icade's Universal Registration Document (URD) 2022
Insights into Icade's Revenues from Sustainable Activities
In 2025, Icade reported EU Taxonomy-eligible revenues of EUR 1.30 billion, representing 97% of its total turnover. Of this amount, EUR 614.00 million of Icade's revenues was classified as EU Taxonomy-aligned, indicating that 46% of the revenue-generating activities undertaken by the company substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
Icade's Taxonomy-Eligible Turnover Over Time
Total Taxonomy Eligible Turnover
Total Taxonomy Aligned Turnover
Have Icade's revenues become more sustainable over time?
Since 2022, Icade's taxonomy-aligned revenues increased by 18.25%,reflecting a sustained upward trend in environmentally sustainable revenue generation.a, d
Compared to the previous year (2024), Icade's taxonomy-aligned revenues increased by 394.62%,highlighting Icade's deeper integration of environmentally sustainable activities into its core business model, or improved classification and reporting of those activities under the EU Taxonomy.a, b
How much of Icade's revenue is eligible under the EU Taxonomy?
In 2025, Icade reported that EUR 1.30 billion of its revenue was eligible under the EU Taxonomy, representing 97% of the company's total turnover. Of this amount, EUR 614.00 million (46% of total revenue) was classified as Taxonomy-aligned. This means that 51% of Icade's revenue is eligible but not aligned, indicating that these activities did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards.a
How much of Icade's eligible revenue is aligned with the EU Taxonomy?
In 2025, Icade reported that EUR 614.00 million of its revenue was aligned under the EU Taxonomy, representing 46% of its total turnover.a
This moderate level of alignment indicates that Icade has begun shifting toward more sustainable operations but still has considerable room to enhance its green offerings.
Icade's Eligibility & Alignment Overview
Icade's Contribution to Environmental Objectives
Total Taxonomy Aligned Turnover
How is Icade's taxonomy-aligned revenue distributed across the EU environmental objectives?
In 2025, Icade reported that its taxonomy-aligned revenue was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 46%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much revenue does Icade earn from selling climate-related solutions ?
In 2025, Icade reported that EUR 617.32 million of its total revenue was associated with activities contributing to the EU taxonomy climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This accounted for 46% of the company's total revenue,indicating that Icadehas a moderate focuson solutions that support climate action through its commercial activities.a
Insights into Icade's CAPEX from Sustainable Activities
In 2025, Icade reported EU Taxonomy-eligible CAPEX of EUR 271.70 million,representing 95% of its total CAPEX. Of this amount, EUR 225.00 million of Icade's CAPEX was classified as EU Taxonomy-aligned, indicating that 78% of the company's investments were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
Icade's Taxonomy-Eligible Capex Over Time
Total Taxonomy Eligible Capex
Total Taxonomy Aligned Capex
Have Icade's increased its investment in sustainable activities over time?
Since 2022, Icade's taxonomy-aligned capital expenditure (CAPEX)increased by 80.97%,pointing to a long-term shift toward greater investment in environmentally sustainable activities recognized under the EU Taxonomy.a, d
Compared to the previous year (2024), Icade's taxonomy-aligned CAPEX increased by 50.29%,highlighting Icade's strengthened commitment to investing in environmentally sustainable activities or improving how such investments are classified and reported under the EU Taxonomy.a, b
How much of Icade's capital expenditure (CAPEX) is eligible under the EU Taxonomy?
In 2025, Icade reported that EUR 271.70 million of its capital expenditure (CAPEX) was eligible under the EU Taxonomy, representing 95% of the company's total CAPEX. Of this amount, EUR 225.00 million (78% of total CAPEX) was classified as Taxonomy-aligned. This means that 17% of Icade's CAPEX is eligible but not aligned, indicating that these investments either did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards (MSS).a
How much of Icade's eligible CAPEX is aligned with the EU Taxonomy?
In 2025, Icade reported that EUR 225.00 million of its CAPEX was aligned under the EU Taxonomy, representing 78% of its total capital investment.a
This strong alignment suggests that Icade is directing a significant portion of its capital investments toward environmentally sustainable assets or activities, reinforcing a strategic focus on long-term sustainability.
Icade's Eligibility & Alignment Overview
Icade's Contribution to Environmental Objectives
Total Taxonomy Aligned Capex
How is Icade's taxonomy-aligned CAPEX distributed across the EU environmental objectives?
In 2025, Icade reported that its taxonomy-aligned capital expenditure (CAPEX) was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 78%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much Icade is investing in climate-related solutions?
In 2025, Icade allocated EUR 223.08 million of its CAPEX to activities contributing to the EU Taxonomy's climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This represented 78% of the company's total capital expenditure,indicating that Icadeis prioritizing climate-focused investments as a central part of its overall capital strategy.a
Insights into Icade's OPEX from Sustainable Activities
In 2025, Icade reported EU Taxonomy-eligible OPEX of EUR 0,representing 0% of its total operating expenses (OPEX). Of this amount, EUR 0 of Icade's OPEX was classified as EU Taxonomy-aligned, indicating that 0% of the company's operating expenses were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
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