Sequoia 2026: record participation by employee shareholders

Participation reaches an all-time high

This year, 88,078 employees out of 183,032 eligible employees chose to participate in the Sequoia 2026 employee share ownership plan.

With a subscription rate of 48.1%, compared with 44.9% in 2025, participation has reached a record level this year.

This momentum is also truly international: subscription rates have increased in almost all of the 56 participating countries.

Employees strengthen their position as the Group’s largest shareholder

This mobilisation directly strengthens the position of employee shareholders in Veolia’s share capital. They now hold more than 9.8%, consolidating their position as the Group’s largest shareholder.

The progress made is particularly significant: in 2016, employees held just 1.2% of Veolia’s share capital.

For AAVE, the objective remains clear: to achieve and maintain at least 10% employee share ownership, thereby sustainably strengthening employees’ position within the Group.

Being a shareholder also means taking part in governance

Employee share ownership is about more than owning shares. Employee shareholders are also represented within the bodies where Veolia’s major decisions are made.

A director representing employee shareholders sits on Veolia’s Board of Directors, with the same voting rights as the other directors.

Elected representatives on the Supervisory Boards of the Sequoia FCPEs monitor the decisions made by the management company and the account keeper (Natixis) and exercise the rights attached to the shares held by the funds, particularly when voting on resolutions submitted to the General Shareholders’ Meeting.

As an independent association, AAVE works to promote and defend employee share ownership within Veolia.