2025 Universal Registration Document

General and financial elements

Environmental training and awareness, with change
Environmental training and awareness, with change
  Hours of training Change
  2025 2024 2025/2024
VINCI Airports 11,999 10,756 +12%
VINCI Autoroutes 3,145 2,764 +14%
VINCI Highways 2,745 883 +211 %
Other concessions 89 589 -85 %
VINCI Energies 26,323 24,416 +8 %
Cobra IS 22,533 28,702 -21 %
VINCI Construction 44,098 43,150 +2 %
VINCI Immobilier and holding companies 838 265 +216 %
Group 111 770 111 525 0 %
2.1.2.3 Eco-labelling and certification

The number of eco-labelled and certified projects is growing year by year, enabling the Group to widely demonstrate its expertise in the area of environmental performance. In 2025, the volume of business represented by these projects amounted to €5 billion for more than 1,000 projects delivered or in the process of being delivered by VINCI Construction, VINCI Immobilier and VINCI Energies (more than 1,100 in 2024). The table below shows the main eco-labelling and certification initiatives being undertaken by the Group.

Examples of eco-labels or certifications in progress or obtained in 2025
Examples of eco-labels or certifications in progress or obtained in 2025
Category Label/certification Entity/worksite
Energy efficiency Energy efficiency

Label/certification

LEED®
Energy efficiency

Entity/worksite

Fairmont Grand Hotel Geneva renovation project – VINCI Construction

Category

Energy Star

Label/certification

11 plants in the United States – VINCI Construction

Category

BREEAM®

Label/certification

Business park projects in Vénissieux – VINCI Immobilier

Carbon performance Carbon performance

Label/certification

E+C−
Carbon performance

Entity/worksite

Initia project in Ramonville-Saint-Agne – VINCI Immobilier (E4C1 level)

Category

Accords Boisés programme in Angers – VINCI Immobilier (E3C2 level)

Carbon certification Carbon certification

Label/certification

PAS 2080
Carbon certification

Entity/worksite

VINCI Construction United Kingdom

Biodiversity Biodiversity

Label/certification

AFAQ Biodiversité (Afnor certification)
Biodiversity

Entity/worksite

VINCI Construction GeoInfrastructure

General General

Label/certification

RTH Corporativo (Reduce Tu Huella Corporativo, voluntary state programme focused on organisational management of carbon and water footprints)
General

Entity/worksite

Tedagua (Grupo Cobra, Panama)

2.2 Acting for the climate (ESRS E1)
2.2.1 Identification of material impacts, risks and opportunities

VINCI plays a central role in the energy and environmental transition, through its businesses in road, air and rail transport infrastructure construction and operation, urban development, water treatment, as well as the construction and maintenance of buildings and low-carbon energy supply infrastructure. It is essential for the Group to fully understand and anticipate the risks and opportunities brought by climate change, in order to ensure the sustainability of its businesses and maintain its leadership. While working to reduce the climate impact of its operations, VINCI also develops innovative solutions to tackle the challenges of the environmental transition and benefit its customers.

2.2.1.1 Climate change mitigation

As the transport infrastructure and construction sectors in which VINCI operates account for more than 50% of annual greenhouse gas emissions (according to Working Group III’s contribution to the IPCC’s Sixth Assessment Report, “Mitigation of Climate Change”, in 2022), it follows that the Group’s impact on climate change is material. Using several scenarios, such as the IPCC’s SSP1-2.6 and Ademe’s “Génération frugale”, VINCI has identified the material impacts, risks and opportunities of climate change mitigation and, in particular, has determined which of its activities could be significantly impacted if more stringent carbon regulations were implemented. An in-depth study was also conducted internally on specific risks for the transport infrastructure, construction and energy sectors to 2050. All of the Group’s emissions, covering all businesses and scopes, were taken into consideration in analysing the related impacts. These emissions are presented in detail in paragraph 2.2.3.2, “GHG emissions”, page 224.

An examination of the political, legal, technological, market and reputation risks listed by the Task Force on Climate-related Financial Disclosures (TCFD) revealed that VINCI could be exposed to two material transition risks (see table on the following page).

It also appears that building renovation, which already accounts for a large share of VINCI’s activities (4% of VINCI’s revenue in 2025), could benefit from government incentives. In addition to leading renovation projects, VINCI has also implemented innovative solutions to support thermal building renovation.