<?xml version="1.0"?>
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd http://www.w3.org/1999/xlink http://www.xbrl.org/2003/xlink-2003-12-31.xsd">
  <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="FinancialAmortizationAndImpairmentLosses" xlink:href="veolia-2020-12-31.xsd#veolia_FinancialAmortizationAndImpairmentLosses" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="FinancialAmortizationAndImpairmentLosses_label_labelen" xml:lang="en">Financial Amortization And Impairment Losses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAmortizationAndImpairmentLosses" xlink:to="FinancialAmortizationAndImpairmentLosses_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="GainsLossesOnDisposalOfFinancialAssets" xlink:href="veolia-2020-12-31.xsd#veolia_GainsLossesOnDisposalOfFinancialAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="GainsLossesOnDisposalOfFinancialAssets_label_labelen" xml:lang="en">Gains Losses On Disposal Of Financial Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnDisposalOfFinancialAssets" xlink:to="GainsLossesOnDisposalOfFinancialAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ChangeInOperatingWorkingCapitalRequirements" xlink:href="veolia-2020-12-31.xsd#veolia_ChangeInOperatingWorkingCapitalRequirements" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ChangeInOperatingWorkingCapitalRequirements_label_labelen" xml:lang="en">Change In Operating Working Capital Requirements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInOperatingWorkingCapitalRequirements" xlink:to="ChangeInOperatingWorkingCapitalRequirements_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="CurrentConcessionLiabilities" xlink:href="veolia-2020-12-31.xsd#veolia_CurrentConcessionLiabilities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CurrentConcessionLiabilities_label_labelen" xml:lang="en">Current Concession Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentConcessionLiabilities" xlink:to="CurrentConcessionLiabilities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="NetFinanceCosts" xlink:href="veolia-2020-12-31.xsd#veolia_NetFinanceCosts" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="NetFinanceCosts_label_labelen" xml:lang="en">Net Finance Costs</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetFinanceCosts" xlink:to="NetFinanceCosts_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="DescriptionOfOtherComprehensiveIncome" xlink:href="veolia-2020-12-31.xsd#veolia_DescriptionOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="DescriptionOfOtherComprehensiveIncome_label_labelen" xml:lang="en">Description Of Other Comprehensive Income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfOtherComprehensiveIncome" xlink:to="DescriptionOfOtherComprehensiveIncome_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="NewOperatingFinancialAssets" xlink:href="veolia-2020-12-31.xsd#veolia_NewOperatingFinancialAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="NewOperatingFinancialAssets_label_labelen" xml:lang="en">New Operating Financial Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewOperatingFinancialAssets" xlink:to="NewOperatingFinancialAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="DeeplySubordinatedSecuritiesAndOceane" xlink:href="veolia-2020-12-31.xsd#veolia_DeeplySubordinatedSecuritiesAndOceane" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="DeeplySubordinatedSecuritiesAndOceane_label_labelen" xml:lang="en">Deeply Subordinated Securities And Oceane</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeeplySubordinatedSecuritiesAndOceane" xlink:to="DeeplySubordinatedSecuritiesAndOceane_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="InterestOnLease" xlink:href="veolia-2020-12-31.xsd#veolia_InterestOnLease" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="InterestOnLease_label_labelen" xml:lang="en">Interest On Lease</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnLease" xlink:to="InterestOnLease_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OtherItemsOfComprehensiveIncomeNotSubsequentlyReleasedToNetIncomeAttributableToAssociates" xlink:href="veolia-2020-12-31.xsd#veolia_OtherItemsOfComprehensiveIncomeNotSubsequentlyReleasedToNetIncomeAttributableToAssociates" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OtherItemsOfComprehensiveIncomeNotSubsequentlyReleasedToNetIncomeAttributableToAssociates_label_labelen" xml:lang="en">Other Items Of Comprehensive Income Not Subsequently Released To Net Income Attributable To Associates</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherItemsOfComprehensiveIncomeNotSubsequentlyReleasedToNetIncomeAttributableToAssociates" xlink:to="OtherItemsOfComprehensiveIncomeNotSubsequentlyReleasedToNetIncomeAttributableToAssociates_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ConcessionIntangibleAssets" xlink:href="veolia-2020-12-31.xsd#veolia_ConcessionIntangibleAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ConcessionIntangibleAssets_label_labelen" xml:lang="en">Concession Intangible Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionIntangibleAssets" xlink:to="ConcessionIntangibleAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OtherIntangibleAssetsThanConcessionIntangibleAssets" xlink:href="veolia-2020-12-31.xsd#veolia_OtherIntangibleAssetsThanConcessionIntangibleAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OtherIntangibleAssetsThanConcessionIntangibleAssets_label_labelen" xml:lang="en">Other Intangible Assets Than Concession Intangible Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherIntangibleAssetsThanConcessionIntangibleAssets" xlink:to="OtherIntangibleAssetsThanConcessionIntangibleAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="PrincipalPaymentsOnOperatingFinancialAssets" xlink:href="veolia-2020-12-31.xsd#veolia_PrincipalPaymentsOnOperatingFinancialAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PrincipalPaymentsOnOperatingFinancialAssets_label_labelen" xml:lang="en">Principal Payments On Operating Financial Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrincipalPaymentsOnOperatingFinancialAssets" xlink:to="PrincipalPaymentsOnOperatingFinancialAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="BankOverdraftsAndOtherCashPositions" xlink:href="veolia-2020-12-31.xsd#veolia_BankOverdraftsAndOtherCashPositions" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="BankOverdraftsAndOtherCashPositions_label_labelen" xml:lang="en">Bank Overdrafts And Other Cash Positions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankOverdraftsAndOtherCashPositions" xlink:to="BankOverdraftsAndOtherCashPositions_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ChangeInLiquidAssetsAndFinancingFinancialAssets" xlink:href="veolia-2020-12-31.xsd#veolia_ChangeInLiquidAssetsAndFinancingFinancialAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ChangeInLiquidAssetsAndFinancingFinancialAssets_label_labelen" xml:lang="en">Change In Liquid Assets And Financing Financial Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInLiquidAssetsAndFinancingFinancialAssets" xlink:to="ChangeInLiquidAssetsAndFinancingFinancialAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="FairValueAdjustmentsOnHedgingCostsBeforeTax" xlink:href="veolia-2020-12-31.xsd#veolia_FairValueAdjustmentsOnHedgingCostsBeforeTax" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="FairValueAdjustmentsOnHedgingCostsBeforeTax_label_labelen" xml:lang="en">Fair Value Adjustments On Hedging Costs Before Tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueAdjustmentsOnHedgingCostsBeforeTax" xlink:to="FairValueAdjustmentsOnHedgingCostsBeforeTax_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ProceedsOnIssueOfDeeplySubordinatedSecurities" xlink:href="veolia-2020-12-31.xsd#veolia_ProceedsOnIssueOfDeeplySubordinatedSecurities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ProceedsOnIssueOfDeeplySubordinatedSecurities_label_labelen" xml:lang="en">Proceeds On Issue Of Deeply Subordinated Securities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsOnIssueOfDeeplySubordinatedSecurities" xlink:to="ProceedsOnIssueOfDeeplySubordinatedSecurities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ChangeInConcessionWorkingCapitalRequirements" xlink:href="veolia-2020-12-31.xsd#veolia_ChangeInConcessionWorkingCapitalRequirements" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ChangeInConcessionWorkingCapitalRequirements_label_labelen" xml:lang="en">Change In Concession Working Capital Requirements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInConcessionWorkingCapitalRequirements" xlink:to="ChangeInConcessionWorkingCapitalRequirements_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ChangeInCurrentLeaseDebtIfrs16" xlink:href="veolia-2020-12-31.xsd#veolia_ChangeInCurrentLeaseDebtIfrs16" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ChangeInCurrentLeaseDebtIfrs16_label_labelen" xml:lang="en">Change In Current Lease Debt Ifrs16</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInCurrentLeaseDebtIfrs16" xlink:to="ChangeInCurrentLeaseDebtIfrs16_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OperatingDepreciationAmortizationProvisionsAndImpairmentLosses" xlink:href="veolia-2020-12-31.xsd#veolia_OperatingDepreciationAmortizationProvisionsAndImpairmentLosses" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OperatingDepreciationAmortizationProvisionsAndImpairmentLosses_label_labelen" xml:lang="en">Operating Depreciation Amortization Provisions And Impairment Losses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingDepreciationAmortizationProvisionsAndImpairmentLosses" xlink:to="OperatingDepreciationAmortizationProvisionsAndImpairmentLosses_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="DescriptionOfNoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:href="veolia-2020-12-31.xsd#veolia_DescriptionOfNoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="DescriptionOfNoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_label_labelen" xml:lang="en">Description Of Noncurrent Investments Other Than Investments Accounted For Using Equity Method</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfNoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:to="DescriptionOfNoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="PrincipalPaymentsOnNoncurrentLoans" xlink:href="veolia-2020-12-31.xsd#veolia_PrincipalPaymentsOnNoncurrentLoans" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PrincipalPaymentsOnNoncurrentLoans_label_labelen" xml:lang="en">Principal Payments On Noncurrent Loans</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrincipalPaymentsOnNoncurrentLoans" xlink:to="PrincipalPaymentsOnNoncurrentLoans_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ProceedsOnDisposalOfIndustrialAssets" xlink:href="veolia-2020-12-31.xsd#veolia_ProceedsOnDisposalOfIndustrialAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ProceedsOnDisposalOfIndustrialAssets_label_labelen" xml:lang="en">Proceeds On Disposal Of Industrial Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsOnDisposalOfIndustrialAssets" xlink:to="ProceedsOnDisposalOfIndustrialAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="RepaymentOfNewNoncurrentLeaseDebt" xlink:href="veolia-2020-12-31.xsd#veolia_RepaymentOfNewNoncurrentLeaseDebt" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="RepaymentOfNewNoncurrentLeaseDebt_label_labelen" xml:lang="en">Repayment Of New Noncurrent Lease Debt</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfNewNoncurrentLeaseDebt" xlink:to="RepaymentOfNewNoncurrentLeaseDebt_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="CurrentFinancialLiabilitiesExcludingConcessionLiabilities" xlink:href="veolia-2020-12-31.xsd#veolia_CurrentFinancialLiabilitiesExcludingConcessionLiabilities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CurrentFinancialLiabilitiesExcludingConcessionLiabilities_label_labelen" xml:lang="en">Current Financial Liabilities Excluding Concession Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentFinancialLiabilitiesExcludingConcessionLiabilities" xlink:to="CurrentFinancialLiabilitiesExcludingConcessionLiabilities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OtherItemsOfComprehensiveIncomeNotSubsequentlyReleasedToNetIncomeAttributableToJointVentures" xlink:href="veolia-2020-12-31.xsd#veolia_OtherItemsOfComprehensiveIncomeNotSubsequentlyReleasedToNetIncomeAttributableToJointVentures" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OtherItemsOfComprehensiveIncomeNotSubsequentlyReleasedToNetIncomeAttributableToJointVentures_label_labelen" xml:lang="en">Other Items Of Comprehensive Income Not Subsequently Released To Net Income Attributable To Joint Ventures</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherItemsOfComprehensiveIncomeNotSubsequentlyReleasedToNetIncomeAttributableToJointVentures" xlink:to="OtherItemsOfComprehensiveIncomeNotSubsequentlyReleasedToNetIncomeAttributableToJointVentures_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToJointVentures" xlink:href="veolia-2020-12-31.xsd#veolia_OtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToJointVentures" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToJointVentures_label_labelen" xml:lang="en">Other Items Of Comprehensive Income Subsequently Released To Net Income Attributable To Joint Ventures</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToJointVentures" xlink:to="OtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToJointVentures_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ShareOfNetIncomeLossOfCoreJointVentures" xlink:href="veolia-2020-12-31.xsd#veolia_ShareOfNetIncomeLossOfCoreJointVentures" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ShareOfNetIncomeLossOfCoreJointVentures_label_labelen" xml:lang="en">Share Of Net Income Loss Of Core Joint Ventures</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfNetIncomeLossOfCoreJointVentures" xlink:to="ShareOfNetIncomeLossOfCoreJointVentures_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="DeeplySubordinatedPerpetualSecurities" xlink:href="veolia-2020-12-31.xsd#veolia_DeeplySubordinatedPerpetualSecurities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="DeeplySubordinatedPerpetualSecurities_label_labelen" xml:lang="en">Deeply Subordinated Perpetual Securities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeeplySubordinatedPerpetualSecurities" xlink:to="DeeplySubordinatedPerpetualSecurities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="InterestOnOperatingAssets" xlink:href="veolia-2020-12-31.xsd#veolia_InterestOnOperatingAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="InterestOnOperatingAssets_label_labelen" xml:lang="en">Interest On Operating Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnOperatingAssets" xlink:to="InterestOnOperatingAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="NetDecreaseIncreaseInCurrentLoans" xlink:href="veolia-2020-12-31.xsd#veolia_NetDecreaseIncreaseInCurrentLoans" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="NetDecreaseIncreaseInCurrentLoans_label_labelen" xml:lang="en">Net Decrease Increase In Current Loans</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDecreaseIncreaseInCurrentLoans" xlink:to="NetDecreaseIncreaseInCurrentLoans_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ShareOfNetIncomeLossOfNonCoreEquityaccountedEntities" xlink:href="veolia-2020-12-31.xsd#veolia_ShareOfNetIncomeLossOfNonCoreEquityaccountedEntities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ShareOfNetIncomeLossOfNonCoreEquityaccountedEntities_label_labelen" xml:lang="en">Share Of Net Income Loss Of Non Core Equityaccounted Entities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfNetIncomeLossOfNonCoreEquityaccountedEntities" xlink:to="ShareOfNetIncomeLossOfNonCoreEquityaccountedEntities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="CouponOnDeeplySubordinatedSecurities" xlink:href="veolia-2020-12-31.xsd#veolia_CouponOnDeeplySubordinatedSecurities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CouponOnDeeplySubordinatedSecurities_label_labelen" xml:lang="en">Coupon On Deeply Subordinated Securities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CouponOnDeeplySubordinatedSecurities" xlink:to="CouponOnDeeplySubordinatedSecurities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="GainsLossesOnDisposalOfOperatingAssets" xlink:href="veolia-2020-12-31.xsd#veolia_GainsLossesOnDisposalOfOperatingAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="GainsLossesOnDisposalOfOperatingAssets_label_labelen" xml:lang="en">Gains Losses On Disposal Of Operating Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnDisposalOfOperatingAssets" xlink:to="GainsLossesOnDisposalOfOperatingAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OtherOperatingRevenueAndExpenses" xlink:href="veolia-2020-12-31.xsd#veolia_OtherOperatingRevenueAndExpenses" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OtherOperatingRevenueAndExpenses_label_labelen" xml:lang="en">Other Operating Revenue And Expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherOperatingRevenueAndExpenses" xlink:to="OtherOperatingRevenueAndExpenses_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="TotalTransactionsWithShareholders" xlink:href="veolia-2020-12-31.xsd#veolia_TotalTransactionsWithShareholders" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="TotalTransactionsWithShareholders_label_labelen" xml:lang="en">Total Transactions With Shareholders</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalTransactionsWithShareholders" xlink:to="TotalTransactionsWithShareholders_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="EffectOfForeignExchangeRateChangesAndOther" xlink:href="veolia-2020-12-31.xsd#veolia_EffectOfForeignExchangeRateChangesAndOther" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="EffectOfForeignExchangeRateChangesAndOther_label_labelen" xml:lang="en">Effect Of Foreign Exchange Rate Changes And Other</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfForeignExchangeRateChangesAndOther" xlink:to="EffectOfForeignExchangeRateChangesAndOther_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="IncreaseDecreaseInExternalNetCashOfDiscontinuedOperations" xlink:href="veolia-2020-12-31.xsd#veolia_IncreaseDecreaseInExternalNetCashOfDiscontinuedOperations" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IncreaseDecreaseInExternalNetCashOfDiscontinuedOperations_label_labelen" xml:lang="en">Increase Decrease In External Net Cash Of Discontinued Operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInExternalNetCashOfDiscontinuedOperations" xlink:to="IncreaseDecreaseInExternalNetCashOfDiscontinuedOperations_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="NetFinanceCostsAdjustments" xlink:href="veolia-2020-12-31.xsd#veolia_NetFinanceCostsAdjustments" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="NetFinanceCostsAdjustments_label_labelen" xml:lang="en">Net Finance Costs Adjustments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetFinanceCostsAdjustments" xlink:to="NetFinanceCostsAdjustments_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="DescriptionOfOtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToJointVentures" xlink:href="veolia-2020-12-31.xsd#veolia_DescriptionOfOtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToJointVentures" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="DescriptionOfOtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToJointVentures_label_labelen" xml:lang="en">Description Of Other Items Of Comprehensive Income Subsequently Released To Net Income Attributable To Joint Ventures</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfOtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToJointVentures" xlink:to="DescriptionOfOtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToJointVentures_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="IncomeTaxRelatingToFairValueAdjustmentsOnHedgingCosts" xlink:href="veolia-2020-12-31.xsd#veolia_IncomeTaxRelatingToFairValueAdjustmentsOnHedgingCosts" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IncomeTaxRelatingToFairValueAdjustmentsOnHedgingCosts_label_labelen" xml:lang="en">Income Tax Relating To Fair Value Adjustments On Hedging Costs</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToFairValueAdjustmentsOnHedgingCosts" xlink:to="IncomeTaxRelatingToFairValueAdjustmentsOnHedgingCosts_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="IndustrialInvestmentsNetOfGrants" xlink:href="veolia-2020-12-31.xsd#veolia_IndustrialInvestmentsNetOfGrants" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="IndustrialInvestmentsNetOfGrants_label_labelen" xml:lang="en">Industrial Investments Net Of Grants</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndustrialInvestmentsNetOfGrants" xlink:to="IndustrialInvestmentsNetOfGrants_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ShareOfNetIncomeLossOfCoreAssociates" xlink:href="veolia-2020-12-31.xsd#veolia_ShareOfNetIncomeLossOfCoreAssociates" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ShareOfNetIncomeLossOfCoreAssociates_label_labelen" xml:lang="en">Share Of Net Income Loss Of Core Associates</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfNetIncomeLossOfCoreAssociates" xlink:to="ShareOfNetIncomeLossOfCoreAssociates_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="PurchasesOfProceedsFromTreasuryShares" xlink:href="veolia-2020-12-31.xsd#veolia_PurchasesOfProceedsFromTreasuryShares" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PurchasesOfProceedsFromTreasuryShares_label_labelen" xml:lang="en">Purchases Of Proceeds From Treasury Shares</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchasesOfProceedsFromTreasuryShares" xlink:to="PurchasesOfProceedsFromTreasuryShares_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ReclassificationOfHybridDebtDeeplySubordinatedSecurities" xlink:href="veolia-2020-12-31.xsd#veolia_ReclassificationOfHybridDebtDeeplySubordinatedSecurities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ReclassificationOfHybridDebtDeeplySubordinatedSecurities_label_labelen" xml:lang="en">Reclassification Of Hybrid Debt Deeply Subordinated Securities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationOfHybridDebtDeeplySubordinatedSecurities" xlink:to="ReclassificationOfHybridDebtDeeplySubordinatedSecurities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ConsolidatedReservesAndRetainedEarnings" xlink:href="veolia-2020-12-31.xsd#veolia_ConsolidatedReservesAndRetainedEarnings" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ConsolidatedReservesAndRetainedEarnings_label_labelen" xml:lang="en">Consolidated Reserves And Retained Earnings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsolidatedReservesAndRetainedEarnings" xlink:to="ConsolidatedReservesAndRetainedEarnings_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="NewNoncurrentLoansGranted" xlink:href="veolia-2020-12-31.xsd#veolia_NewNoncurrentLoansGranted" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="NewNoncurrentLoansGranted_label_labelen" xml:lang="en">New Noncurrent Loans Granted</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewNoncurrentLoansGranted" xlink:to="NewNoncurrentLoansGranted_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OperatingReceivables" xlink:href="veolia-2020-12-31.xsd#veolia_OperatingReceivables" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OperatingReceivables_label_labelen" xml:lang="en">Operating Receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingReceivables" xlink:to="OperatingReceivables_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="NoncurrentConcessionLiabilities" xlink:href="veolia-2020-12-31.xsd#veolia_NoncurrentConcessionLiabilities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="NoncurrentConcessionLiabilities_label_labelen" xml:lang="en">Noncurrent Concession Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentConcessionLiabilities" xlink:to="NoncurrentConcessionLiabilities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OperatingIncomeBeforeShareOfNetIncomeLossOfEquityaccountedEntities" xlink:href="veolia-2020-12-31.xsd#veolia_OperatingIncomeBeforeShareOfNetIncomeLossOfEquityaccountedEntities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OperatingIncomeBeforeShareOfNetIncomeLossOfEquityaccountedEntities_label_labelen" xml:lang="en">Operating Income Before Share Of Net Income Loss Of Equityaccounted Entities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingIncomeBeforeShareOfNetIncomeLossOfEquityaccountedEntities" xlink:to="OperatingIncomeBeforeShareOfNetIncomeLossOfEquityaccountedEntities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ThirdPartyShareInShareCapitalIncreasesOfSubsidiaries" xlink:href="veolia-2020-12-31.xsd#veolia_ThirdPartyShareInShareCapitalIncreasesOfSubsidiaries" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ThirdPartyShareInShareCapitalIncreasesOfSubsidiaries_label_labelen" xml:lang="en">Third Party Share In Share Capital Increases Of Subsidiaries</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ThirdPartyShareInShareCapitalIncreasesOfSubsidiaries" xlink:to="ThirdPartyShareInShareCapitalIncreasesOfSubsidiaries_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ReservesAndRetainedEarningsAttributableToOwnersOfTheCompany" xlink:href="veolia-2020-12-31.xsd#veolia_ReservesAndRetainedEarningsAttributableToOwnersOfTheCompany" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ReservesAndRetainedEarningsAttributableToOwnersOfTheCompany_label_labelen" xml:lang="en">Reserves And Retained Earnings Attributable To Owners Of The Company</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReservesAndRetainedEarningsAttributableToOwnersOfTheCompany" xlink:to="ReservesAndRetainedEarningsAttributableToOwnersOfTheCompany_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ShareOfNetIncomeLossOfCoreEquityaccountedEntities" xlink:href="veolia-2020-12-31.xsd#veolia_ShareOfNetIncomeLossOfCoreEquityaccountedEntities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ShareOfNetIncomeLossOfCoreEquityaccountedEntities_label_labelen" xml:lang="en">Share Of Net Income Loss Of Core Equityaccounted Entities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfNetIncomeLossOfCoreEquityaccountedEntities" xlink:to="ShareOfNetIncomeLossOfCoreEquityaccountedEntities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="FairValueAdjustmentsOnHedgingCostsNetOfTax" xlink:href="veolia-2020-12-31.xsd#veolia_FairValueAdjustmentsOnHedgingCostsNetOfTax" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="FairValueAdjustmentsOnHedgingCostsNetOfTax_label_labelen" xml:lang="en">Fair Value Adjustments On Hedging Costs Net Of Tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueAdjustmentsOnHedgingCostsNetOfTax" xlink:to="FairValueAdjustmentsOnHedgingCostsNetOfTax_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="NoncurrentOperatingFinancialAssets" xlink:href="veolia-2020-12-31.xsd#veolia_NoncurrentOperatingFinancialAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="NoncurrentOperatingFinancialAssets_label_labelen" xml:lang="en">Noncurrent Operating Financial Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentOperatingFinancialAssets" xlink:to="NoncurrentOperatingFinancialAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OCEANEEquityComponent" xlink:href="veolia-2020-12-31.xsd#veolia_OCEANEEquityComponent" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OCEANEEquityComponent_label_labelen" xml:lang="en">O C E A N E Equity Component</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OCEANEEquityComponent" xlink:to="OCEANEEquityComponent_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="RepaymentOfDeeplySubordinatedSecurities" xlink:href="veolia-2020-12-31.xsd#veolia_RepaymentOfDeeplySubordinatedSecurities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="RepaymentOfDeeplySubordinatedSecurities_label_labelen" xml:lang="en">Repayment Of Deeply Subordinated Securities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfDeeplySubordinatedSecurities" xlink:to="RepaymentOfDeeplySubordinatedSecurities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="CurrentOperatingFinancialAssets" xlink:href="veolia-2020-12-31.xsd#veolia_CurrentOperatingFinancialAssets" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CurrentOperatingFinancialAssets_label_labelen" xml:lang="en">Current Operating Financial Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentOperatingFinancialAssets" xlink:to="CurrentOperatingFinancialAssets_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="InterestPaid" xlink:href="veolia-2020-12-31.xsd#veolia_InterestPaid" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="InterestPaid_label_labelen" xml:lang="en">Interest Paid</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPaid" xlink:to="InterestPaid_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToAssociates" xlink:href="veolia-2020-12-31.xsd#veolia_OtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToAssociates" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToAssociates_label_labelen" xml:lang="en">Other Items Of Comprehensive Income Subsequently Released To Net Income Attributable To Associates</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToAssociates" xlink:to="OtherItemsOfComprehensiveIncomeSubsequentlyReleasedToNetIncomeAttributableToAssociates_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ShareOfNetIncomeLossOfJointVentures" xlink:href="veolia-2020-12-31.xsd#veolia_ShareOfNetIncomeLossOfJointVentures" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ShareOfNetIncomeLossOfJointVentures_label_labelen" xml:lang="en">Share Of Net Income Loss Of Joint Ventures</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfNetIncomeLossOfJointVentures" xlink:to="ShareOfNetIncomeLossOfJointVentures_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="NoncurrentFinancialLiabilitiesExcludingConcessionLiabilities" xlink:href="veolia-2020-12-31.xsd#veolia_NoncurrentFinancialLiabilitiesExcludingConcessionLiabilities" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="NoncurrentFinancialLiabilitiesExcludingConcessionLiabilities_label_labelen" xml:lang="en">Noncurrent Financial Liabilities Excluding Concession Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentFinancialLiabilitiesExcludingConcessionLiabilities" xlink:to="NoncurrentFinancialLiabilitiesExcludingConcessionLiabilities_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="OperatingPayables" xlink:href="veolia-2020-12-31.xsd#veolia_OperatingPayables" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="OperatingPayables_label_labelen" xml:lang="en">Operating Payables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingPayables" xlink:to="OperatingPayables_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ShareCapitalReduction" xlink:href="veolia-2020-12-31.xsd#veolia_ShareCapitalReduction" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ShareCapitalReduction_label_labelen" xml:lang="en">Share Capital Reduction</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareCapitalReduction" xlink:to="ShareCapitalReduction_label_labelen" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:label="ScriptDividends" xlink:href="veolia-2020-12-31.xsd#veolia_ScriptDividends" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ScriptDividends_label_labelen" xml:lang="en">Script Dividends</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScriptDividends" xlink:to="ScriptDividends_label_labelen" xlink:type="arc" />
  </link:labelLink>
</link:linkbase>