The following aspects were reviewed for each IRO relevant to the Group
Further work focused on developing the methodology for scoring impacts (impact materiality) and risks and opportunities (financial materiality). All IROs were scored in terms of a gross value, i.e., before the implementation of mitigation measures. The IROs associated with each material issue were measured according to two dimensions: magnitude or severity and likelihood.
The scoring scales for magnitude or severity and likelihood include four levels based on the Group’s existing risk maps, plans and procedures (environmental risk map, duty of vigilance plan, procurement risk maps, internal general procedure on risk management, assessments of human rights issues in line with VINCI’s Guide on Human Rights). For each impact, the three characteristics mentioned above as well as the likelihood, were assigned scores ranging from 1 to 4. Impact materiality was then determined by multiplying the characteristic with the highest score by the likelihood. The final value for impact materiality also ranges from 1 to 4.
This analysis draws on the principle of overall consistency with the Group’s risk analysis methodology. For each risk and opportunity, the three characteristics mentioned above as well as the likelihood were assigned scores ranging from 1 to 4. It should be noted that the scale of likelihood used for financial materiality is the same as that used for impact materiality. Financial materiality was then determined by multiplying the characteristic with the highest score by the likelihood. The final value for financial materiality also ranges from 1 to 4.
IROs were considered material if the overall score for impact materiality and/or financial materiality exceeded the threshold of 1.5 out of 4. The scoring process was carried out by the committee of internal experts presented in paragraph 1.1.2.1, “Stakeholder consultation”, page 187. The results of the double materiality assessment were reviewed and discussed with the Executive Committee, the Audit Committee and the Strategy and CSR Committee. They were more broadly communicated within VINCI SA’s functional departments, in particular over the course of several webinars.
Indicators are selected directly according to the materiality of IROs. These indicators also meet the requirements of other regulatory frameworks and guidelines:
The methodologies for defining and calculating environmental and social indicators are described in more detail in paragraph 5.4, “Key elements of methodology,” of the methodology note, page 289.
VINCI uses an environmental reporting guide and a social reporting guide, which are applied consistently across the Group scope. Environmental and social reporting is integrated into the same system as financial reporting to ensure that most performance indicators are reported in a coherent, centralised manner.
The Environment, Social Responsibility, and Ethics and Vigilance departments are responsible for updating and sharing information on IROs, working in close collaboration with the finance teams.
The IROs and double materiality scores are reviewed each year to ensure that they align consistently with the Group’s activity and strategy, or with regard to any significant occurrences such as
The double materiality matrix is reviewed by the Audit Committee and brought to the attention of the Group’s Executive Committee on a yearly basis.
