2025 Universal Registration Document

General and financial elements

Risk management process

The operational departments of VINCI’s business lines are responsible for the integrity and reliability of non-financial data. The Environment, Human Resources, Social Responsibility and Ethics and Vigilance departments are in charge of:

  • preparing ESG reporting procedures and disseminating them internally to business lines and divisions (see paragraph 5.1, “Reporting procedures”, of the methodology note, page 288) in accordance with applicable regulations;
  • establishing the timetable and instructions for the preparation of the sustainability report;
  • consolidating and analysing the data reported by divisions and drafting the sustainability report.

Sustainability auditors present their observations, if any, on the sustainability report to the Audit Committee before it is presented to the Board of Directors.

Environmental, social and governance data are produced internally by a network of ESG representatives trained in internal control requirements. VINCI’s non-financial performance is monitored via reporting tools that are also used for financial reporting.

The ESG teams at the business units and divisions regularly perform internal and external audits. In 2025, five ESG audits were carried out jointly by the Environment and Human Rights teams and the Audit Department. In addition, the Audit Department conducts an annual self-assessment of internal control relating to the following areas: the internal control environment, financial and accounting information, the environment, human rights, compliance and IT security (see paragraph 2.4, “Internal control”, of chapter D, “Risk factors and management procedures”, page 182). The 2025 questionnaire included specific questions on the implementation of the CSRD.

Internal environmental risk management

The environmental risk monitoring policy is translated into operational guidelines in the business lines. Each business line establishes a road map taking into account the specific nature of its activities and geographies, with the aim to drive continuous improvement. In subsidiaries, chief executives and senior management are in charge of ensuring regulatory compliance and the implementation of risk prevention procedures in their operational scope, taking into account their specific activities and challenges. They are assisted by the network of environment officers, who provide environmental expertise.

VINCI encourages its subsidiaries to obtain environmental certification such as ISO 14001 to improve the effectiveness of their environmental management system, which involves:

  • a regulatory monitoring and compliance assessment process;
  • an assessment of significant environmental aspects and impacts during normal operations and in the event of an incident;
  • proactive systems to reduce risks (containment pallets for hazardous materials, for example);
  • clear procedures and training to ensure that workers are informed and fully prepared to respond effectively in the event of an incident;
  • drills to practise responding to emergency situations.
ISO 14001-certified revenue
ISO 14001-certified revenue
(as a percentage) 2025 2024 Indicator Scope
VINCI Airports

VINCI Airports

2025

81%

VINCI Airports

2024

98%

VINCI Airports

Indicator

Revenue

VINCI Airports

Scope

World

VINCI Autoroutes

VINCI Autoroutes

2025

100%

VINCI Autoroutes

2024

100%

VINCI Autoroutes

Indicator

Kilometres

VINCI Autoroutes

Scope

France

VINCI Highways

VINCI Highways

2025

32%

VINCI Highways

2024

19%

VINCI Highways

Indicator

Revenue

VINCI Highways

Scope

World

Other concessions

Other concessions

2025

34%

Other concessions

2024

36%

Other concessions

Indicator

Revenue

Other concessions

Scope

World

VINCI Energies

VINCI Energies

2025

56%

VINCI Energies

2024

43%

VINCI Energies

Indicator

Revenue

VINCI Energies

Scope

World

Cobra IS

Cobra IS

2025

89%

Cobra IS

2024

83%

Cobra IS

Indicator

Revenue

Cobra IS

Scope

World

VINCI Construction

VINCI Construction

2025

68%

VINCI Construction

2024

71%

VINCI Construction

Indicator

Revenue

VINCI Construction

Scope

World

VINCI Immobilier

VINCI Immobilier

2025

-

VINCI Immobilier

2024

-

VINCI Immobilier

Indicator

Revenue

VINCI Immobilier

Scope

World

Group revenue from ISO 14001-certified activities Group revenue from ISO 14001-certified activities

2025

69%
Group revenue from ISO 14001-certified activities

2024

67%
Group revenue from ISO 14001-certified activities

Indicator

-

Group revenue from ISO 14001-certified activities

Scope

-

In addition, ISO 9001, which is a core standard for audits, also covers all aspects relating to the management, selection, monitoring and assessment of subcontractors. Upon completion of an audit, observations are shared with the heads of the relevant project and the audit report is sent to management at every level.

Management of internal social risks

The VINCI Autoroutes concession companies with operations activities are ISO 45001 certified. The aspects covered and audited as part of this certification include company policy, leadership and management engagement, employee participation, training and awareness, work preparation and organisation, risk prevention for external companies, regulatory compliance, accident management, and the management of materials, equipment and products. For more information on the Group’s health and safety certification process, see paragraph 2.6, “Assessing the situation of subsidiaries, subcontractors and suppliers”, of chapter F, “Duty of vigilance plan”, page 302.

The Diversity label is awarded by an outside organisation (Afnor Certification, in France). The certification process examines action plans focused on preventing discrimination, promoting inclusion and diversity, and respecting equality. A number of VINCI companies in France have been awarded this label, including all the VINCI Autoroutes entities. Several entities have been certified in other countries by organisations such as the National Centre for Diversity in the United Kingdom, Aenor in Spain and Charta der Vielfalt in Germany. VINCI has also offered the possibility for its companies outside France to implement the gender equality index, as defined under French regulations, to support their efforts in this area. By the end of 2024, this initiative had been rolled out in 153 of the 452 eligible companies with more than 50 employees across 27 countries.