2025 Universal Registration Document

Negative impact: contribution to the increase in CO₂ emissions

Contribution to the extinction of ecosystems and the depletion of resources

All

Downstream

Long term

Local communities and residents Nature and biodiversity

Media

Transition risk: loss of revenue

Loss of revenue in markets that contribute significantly to greenhouse gas (GHG) emissions and could shrink as a result of more stringent regulations (construction of new buildings, motorway traffic, air travel, etc.)

All

Own activities Medium term

Employees, subcontractors, temporary staff Subcontractors

Customers

Public authorities

Local communities and residents

Investors and lenders

Transition risk: additional costs

Increase in costs (OpEx) resulting from the implementation of carbon pricing tools (carbon tax, carbon border adjustment mechanism, etc.)

All

Upstream

Medium term

Investors and lenders

Customers

Suppliers

Subcontractors

Public authorities

Opportunity: energy renovation acceleration

Increase in revenue from the growth of the energy renovation market and other low-carbon opportunities or services

VINCI Construction VINCI Energies Cobra IS

Own activities Short term

Employees, Subcontractors,

temporary staff

Subcontractors

Public authorities

Customers

Local communities and residents

Investors

Negative impact: contribution to the acceleration of climate change Contribution to the acceleration of (irreversible) climate change

contribution to the acceleration of climate change Contribution to the acceleration of (irreversible) climate change due to the combustion of fossil fuels by site machinery and trucks, company and utility vehicles, industrial activities, and buildings

All

Downstream

Medium term

Customers

Public authorities

Local communities and residents

Nature and biodiversity

Risk: increase in energy costs

Impact on margins of energy cost increases (due to scarcity, taxes, etc.)

All

Upstream

Short term

Investors and lenders

Concession grantors

Public authorities Local communities and residents

Customers

Suppliers

Subcontractors

Opportunity: supporting the transition to a low-carbon economy

Supporting the transition to a low-carbon economy (sustainable mobility; financing, construction, connection and maintenance of renewable energy production facilities such as solar photovoltaic power plants and wind power projects; development of low-carbon hydrogen production infrastructure)

VINCI Concessions VINCI Energies Cobra IS

Downstream

Long term

Users of infrastructure and services

Customers

Public authorities Local communities and residents

Investors and lenders

Negative impact: harm to employee health and safety

Serious injury to employees due to extreme weather events at VINCI infrastructure assets or construction sites

All

Own activities Long term

Employees, Subcontractors,

temporary staff

Media

Risk: degradation of the Group’s assets and sites

Losses related to the partial deterioration or total destruction of civil works or facilities (asset depreciation and an increase of OpEx or a decrease in revenue) due to extreme weather events or acute physical risks

VINCI Concessions

Own activities Long term

Employees, Subcontractors,

temporary staff

Customers

Sub-concession holders

Local communities and residents

Investors and lenders

Public authorities

Opportunity: adaptation and repair solutions

Increase in revenue related to new opportunities for adaptation and maintenance work and solutions to make buildings, infrastructure and regions more resilient to climate change (sea walls, tunnels, bridges, desalination plants, building insulation, foundation reinforcement, urban heat island mitigation, soil unsealing, etc.)

VINCI Construction VINCI Energies Cobra IS

Own activities Short term

Employees, Subcontractors,

temporary staff

Public authorities

Customers

Local communities and residents

Investors

Negative impact: waste generated from the Group’s operations

Degradation of natural spaces and habitats and pollution of soil, water and air related to poor management of waste from the Group’s operations (worksites, etc.)

All

Downstream

Short term

Nature

Local communities 

Residents,

Public authorities

Positive impact: creation of waste recovery systems and user awareness-building

Direct contribution to waste reduction and recycling by developing waste treatment and recycling facilities and by raising the awareness of Group infrastructure users

VINCI Concessions VINCI Construction

Downstream

Short term

Customers

Nature

Employees, Subcontractors,

temporary staff

Negative impact: depletion of resources

Escalating depletion of natural resources (construction materials of mineral or forest origin, etc.) associated with the Group’s operations

VINCI Construction

Upstream

Long term

Nature

Opportunity: production of recycled materials

Increase in revenue from the production and sale of recycled materials

VINCI Construction

Downstream

Short term

Customers

Investors and lenders

Nature

Risk: delay or stoppage of work due to nuisances for local residents or disruptions to ecosystems

Loss of revenue due to the delay or stoppage of construction work and/or operations (permit temporarily or permanently revoked) due to the inability to carry out projects that generate light and/or noise pollution and/or vibrations

VINCI Construction

Own activities Long term

Employees, Subcontractors,

temporary staff

Local communities and residents,

Public authorities

Media

Investors

Negative impact: water consumption related to concrete production

Escalating depletion of water resources, expansion of areas experiencing water stress due to the consumption of water not returned to the natural environment and used to produce concrete or aggregates

VINCI Construction

Upstream

Medium term

Negative impact: degradation of natural environments related to water withdrawals

Consequences for biodiversity and aquatic ecosystems of modifications to river levels, aquifers, and natural environments, related to water withdrawals for operations at the Group’s fixed sites

VINCI Construction (quarries)

VINCI Concessions

Cobra IS

Own activities Medium term

Nature

Negative impact: biodiversity-sensitive areas – disruption or degradation of ecosystems related to Group operations

Significant disruptions or degradation to the state of ecosystems and of flora and fauna, related to Group activities located close to or inside protected areas, Unesco sites, key biodiversity areas or sensitive areas

VINCI Concessions Cobra IS (Belmonte)

VINCI Construction (quarries)

Downstream

Short term

Nature and biodiversity

Local communities and residents

Controversy risk: biodiversity-sensitive areas

Controversies and major media exposure related to stakeholder pressure, such as from NGOs, on operations for the benefit of users of infrastructure

VINCI Concessions

Own activities Medium term

Employees, Subcontractors,

temporary staff

Customers

Public authorities

Local communities and residents Nature and biodiversity

Investors and lenders

Negative impact: soil sealing

Degradation or destruction of natural environments and soil depletion related to soil sealing resulting from the Group’s new construction and earthworks activities and its extraction of raw materials

VINCI Immobilier VINCI Concessions (greenfield projects)

VINCI Construction (quarry expansions)

Own activities Short term

Employees, Subcontractors,

temporary staff

Customers

Public authorities

Local communities and residents 

Nature and biodiversity

Investors and lenders

Controversy risk: use of wood from deforestation

Controversies and major media exposure related to stakeholder pressure, such as from NGOs, if wood from deforestation is used

VINCI Construction

Upstream

Medium term

Suppliers

Nature Local communities and residents  

Employees, Subcontractors,

temporary staff

Opportunity: revenue from land recycling operations (reconstruction of cities by reusing their assets)

Implementation of land recycling projects

VINCI Immobilier

Own activities Medium term

Employees, Subcontractors, temporary staff

Customers

Public authorities

Local communities and residents  Nature and biodiversity

Investors and lenders

Negative impact: employee health

Infringement of the well-being, physical integrity and mental health of employees due to poor or inadequate working conditions

Negative impact: workers’ rights

Violation of the rights of workers and their representatives due to failure to respect their freedom of association, trade union rights or collective bargaining

Risk: employee disengagement

Employee disengagement potentially resulting in higher absenteeism and turnover rates, strikes, etc.

Risk: image

Damage to the Group’s image potentially resulting in a loss of attractiveness, etc.

Risk: legal proceedings

Negative impact: employees’ physical integrity des collaborateurs

Infringement of the physical integrity of employees (occurrence of workplace accidents, development of occupational illnesses, fatalities) due to poor or inadequate safety conditions in relation to the activity (lack of training, absence of appropriate protective equipment, insufficient supervision, etc.)

Negative impact: employees’ physical or mental health

Deterioration in employees’ physical or mental health due to psychosocial risks not being taken into account and managed

Risk: employee disengagement

Employee disengagement potentially resulting in higher absenteeism and turnover rates, strikes, etc.

Risk: image

Damage to the Group’s image potentially resulting in a loss of attractiveness, etc.

Risk: legal proceedings

Positive impact: proud and motivated workforce

Proud and motivated workforce reflecting a sense of acceptance and respect for all visible and invisible differences

Positive impact: upskilling

Improvement of interpersonal skills and development of knowledge through the rich and varied exchanges offered by diverse teams for employees

Positive impact: expansion of the talent pool

Expansion and broadening of the potential talent pool for jobs offered by Group companies

Opportunity: stronger employer brand

Expanded talent pool and stronger employer brand

Opportunity: talent development and retention

Opportunity: employee productivity

Enhanced productivity through more diverse and more representative teams

Positive impact: skills

Development and continuous enhancement of skills to drive individual and collective performance

Positive impact: employability

Stronger employability and career paths for employees

Opportunity: employer attractiveness and employee retention

Opportunity: alignment of skills

Alignment of skills with evolving business needs

Risk: image

Risk: legal proceedings

Negative impact

Work performed under duress and significant infringement of the dignity, well-being, physical integrity and mental health of workers (e.g. debt bondage and illegal recruitment fees, substitution of employment contracts, confiscation of identity documents, restriction of freedom of movement, etc.)

Risk: image

Risk: legal proceedings

Negative impact

Infringement of the physical integrity of workers in the value chain (occurrence of workplace accidents, development of occupational illnesses, fatalities) due to poor or inadequate safety conditions in relation to the activity (lack of training, absence of appropriate protective equipment, insufficient supervision, etc.)

Risk: image

Risk: legal proceedings

Positive impact: regional development

Contribution to regional socio-economic development (creating local jobs, supporting local economic ecosystems, supporting social cohesion, promoting the integration and inclusion of vulnerable populations, etc.)

Opportunity: local economies

Supporting and stimulating local economies to spur new opportunities

Opportunity: social licence to operate

Negative impact: local communities

Violations of the rights, physical and/or psychological integrity, and quality of life of local communities potentially resulting from the Group’s direct activities (construction work or infrastructure operations) or linked to projects involving Group companies at different levels across the value chain (pollution, nuisances, personal safety, degradation of livelihoods or living environments, land pressures, expropriation, lack of consultation or prior dialogue, etc.)

Negative impact: fundamental rights

Violations of the fundamental rights of indigenous peoples

Risk: damage to the Group’s image among its stakeholders

Opportunity

Opening up potential financial benefits by strengthening confidence among the Group’s stakeholders (shareholders, investors, customers, partners, suppliers, NGOs, local communities and nearby residents, public authorities and administrations, etc.)

Opportunity

Enhancing Group attractiveness, employee loyalty, safety and collective engagement

Opportunity

Establishing compliance programmes, particularly in the area of anti-corruption, and improving their effectiveness

Risk

Damage to the Group’s image if there is no commitment on the part of executive leadership to promote an ethical culture that incorporates compliance standards by developing a code of conduct, internal management rules, transparency, etc.

Opportunity

Strengthening stakeholder and employee confidence in the Group’s commitment to detecting and dealing with any violations of law, the Code of Ethics or the Anti-corruption Code of Conduct

Risk

Non-detection and failure to handle potential cases of non-compliance reported through internal reporting systems, which could expose the Group to sanctions and a loss in stakeholder confidence

Negative impact

Bullying, pressure and unjustified dismissals due to lack of whistleblower protection

Opportunity

Strengthening trust across the Group’s value chain, particularly among suppliers, subcontractors and service providers

Risk

Increased operational risks, delays and impaired productivity in Group operations, loss in quality and limited choice of partners

Negative impact

Adverse effect on the financial position of suppliers due to non-compliance with terms of payment

Opportunity

Strengthening confidence among the Group’s stakeholders (customers, lenders, partners, suppliers, NGOs, local communities and nearby residents, public authorities and administrations, employees, etc.)

Opportunity

Improving governance and decision-making, mitigating operational, financial and legal risks

Risk

Non-compliance with laws, fines, sanctions, exclusion from public contracts and termination of contracts

Negative impact

Job losses for employees of companies involved