The sustainability information provided in this report was drawn up in line with the legal and regulatory requirements resulting from the transposition into French law of the European Union’s Corporate Sustainability Reporting Directive (CSRD). This second year of the CSRD’s application is characterised by inherent uncertainties relating to the state of scientific or economic knowledge as well as the quality of the external data used.
The Group is actively continuing its work to meet the minimum disclosure requirements (MDRs). Targets and time horizons have been defined for certain key actions and specific activities. However, due to the diversity of the Group’s businesses and its decentralised organisation, not all information required on policies, actions, metrics and targets can systematically be reported at a consolidated level. This decentralised approach reflects the Group’s commitment to maintaining a flexible and agile strategy, adapted to the actual operating conditions of its business lines and taking into account the expectations of its stakeholders.
The methodologies used for some social and environmental indicators may be subject to limitations due to:
To measure the progress made by the Group in reducing its direct greenhouse gas emissions between 2018 and 2030, the reduction achieved in year Y is compared against an initial emissions baseline. Each year, the 2018 baseline is adjusted for emissions relating to acquisitions and disposals of companies during the period (see paragraph 5.2, “Changes in scope”, of the methodology note, page 288). Accordingly, emissions reported in 2018 are adjusted for changes in scope between 2018 and year Y, in order to track the Group’s progress against its emissions reduction targets on a like-for-like basis, in line with its commitment to the SBTi (see paragraph 5.4.3.2, “Progress against emissions reduction targets”, of the methodology note, page 290).
The Group has identified key areas for reducing direct emissions (Scopes 1 and 2) and indirect emissions (Scope 3). In these areas, its own initiatives combine with those of external stakeholders involved in the decarbonisation of its value chain. VINCI strives to accelerate these external efforts and strengthen its role as a driver of the low-carbon transition. Scope 3 emissions reduction will remain largely dependent on external factors, such as the electrification of mobility infrastructure and the decarbonisation of building materials and energy equipment (see “Transition plan” in paragraph 2.2.2.1, “Climate change mitigation and energy”, page 210).
Due to the fast close process, some entities estimated their environmental data for the last one, two or three months of 2025. On its intranet, the Group provides a guide presenting six methods for estimating data for the final months of the year. Each entity can then select the method most relevant to its context.
For some entities for which environmental data was not available, the Group may have extrapolated data to cover its full scope, provided they contribute less than 5% of their division’s total revenue.
Some environmental indicators include estimated value chain data derived from indirect sources. This data refers to information from third parties or from estimates based on models, sector averages or data provided by value chain partners. For example, the Group uses estimates to calculate indirect greenhouse gas emissions (Scope 3) to estimate activity data or to apply monetary ratios, and to estimate emission factors when this data is not available. Overall, 53% of Scope 3 emissions were based on physical activity data. The overall uncertainty of the resulting Scope 3 data is estimated to be between 20% and 30% (see paragraph 5.4.3.3, “Scope 3 greenhouse gas emissions”, of the methodology note, page 290). VINCI is focused on improving the reliability of reporting to reduce the use of data estimates based on indirect sources.
In accordance with the EU Taxonomy, several estimates were needed, which are detailed in paragraph 5.4.4.2, “Methodological approaches”, of the methodology note, page 291.
Given the background described at the beginning of this section, the Group has launched work that will be continued in the years to come. With regard to the living wage, for example, the Group has launched an analysis of pay levels across its workforce, and a review covering more than 50% of its employees was carried out in 2025. Within the VINCI Group, this issue is covered by a dedicated working group, made up of human resources directors from across the various business lines. Work in this area will continue in 2026, during which data on nominal salaries will be updated for the current scope. This initiative will also be extended to other entities and countries.
