2025 Universal Registration Document

General and financial elements

Adaptation actions
Engagement in collective adaptation initiatives

VINCI participates in discussions and debate on climate change adaptation, alongside other industry players. In France, the Group plays an active role in the third National Climate Adaptation Plan (PNACC-3) presented by the government in March 2025 to prepare the country for 4°C global warming by the end of the century. VINCI responded to the public consultation launched in September 2023 with several concrete proposals, some of which were included in the PNACC-3 measures related to buildings and infrastructure, such as conducting full cost analyses including environmental and social benefits; increasing the use of public procurement to encourage adaptation; and raising awareness among all stakeholders, sharing knowledge and operational solutions and maintaining the Mission Adaptation programme for local authorities.

In 2025, VINCI Immobilier joined a collective of local authorities, property developers and engineering firms called “Nos villes à 50 °C” (Our cities at 50°C) to build a systematic approach to incorporating climate-adapted design into every housing construction and renovation project.

Implementation of vulnerability analyses and adaptation plans for concession assets

Percentage of concessions infrastructure exposed to significant physical risks and having initiated the development of a climate adaptation plan

2025: 13%  2026: 100%

To anticipate the impacts of climate change, vulnerability analyses are performed on concession assets. At VINCI Airports, these analyses may be factored into airports’ long-term business plans, along with Scope 1, 2 and 3 CO2 equivalent emissions and the investments related to the AirPact decarbonisation strategy. In 2025, the scope of vulnerability analyses was expanded to cover the entire VINCI Airports network. In addition, as part of the tender process for any future acquisitions, VINCI Airports systematically performs an assessment of climate risks and vulnerabilities using ResiLens. VINCI Autoroutes is conducting several initiatives under the new PNACC: it is co-funding and participating in the vulnerability assessment of the national road network, which covers all of VINCI’s motorway concessions in France. The study’s results are expected to be published in 2026. This vulnerability analysis updates the one conducted in 2020. In 2025, VINCI Autoroutes therefore carried out comprehensive assessments of its first pilot sites, which cover more than 100 km of motorway sections flagged by a previous review as priorities: 75 km of the A7, run by the ASF network; 20 km operated by the Escota network; and a few kilometres managed by the Cofiroute network. VINCI Autoroutes also identified new motorway sections as primary candidates for a comprehensive flood risk vulnerability analysis: 300 km operated by Escota, more than 100 km run by Cofiroute and more than 1,000 km managed by ASF. These studies will be launched in 2026, in accordance with PNACC-3.

Following an initial diagnosis, climate risk adaptation plans will be developed for the assets considered to be of high priority. In 2025, VINCI Concessions agreed that all high-risk infrastructure should begin developing a climate adaptation plan by the end of 2026. At 31 December 2025, 13% of high-risk assets were covered by a validated adaptation plan. London Gatwick, Edinburgh, Faro and Acapulco airports have already begun implementing their adaptation plans. For example, as part of its adaptation plan, Faro airport is managing flood risks by closely monitoring precipitation and regularly inspecting water pipes, in collaboration with stakeholders. It is also taking measures to cope with drought, such as reusing treated wastewater. To deal with high temperatures, it is providing shading for terminals, designing runway pavement and HVAC systems that are resilient to heat waves, using thermal modelling for buildings, and adapting work schedules and equipment for workers. Its adaptation plan defines safety procedures to be followed in an extreme wind event to ensure the continuity and safety of operations.

In 2025, following the publication of PNACC-3, the French civil aviation authority named seven airports in France as needing their own specific adaptation plan. These included Lyon-Saint Exupéry airport, which will finalise its plan by the end of the year. A climate adaptation toolkit was deployed in 2025 to support the plan’s commitments. It includes a catalogue of solutions, training, and standard specifications for risk and vulnerability assessments and action plans.

Taxonomy-eligible CapEx committed in 2025 to adapt concessions to climate change was €67 million (€4 million at end-2024).

Measures to develop climate adaptation knowledge
Foresight studies and research

VINCI conducts foresight studies and scientific research on adaptation to reinforce the climate resilience of its activities, supported by its foresight and innovation platform, Leonard, which has had a working group focused on adaptation since 2017. VINCI’s business lines and engineering and design office Resallience participate in the group. In addition to building employee awareness of climate adaptation, the working group explores its impacts on business, especially business models. It examines insurance issues and, more generally, how to embed climate adaptation into the business strategies of Group entities.

Since 2008, the VINCI-ParisTech lab recherche environnement, a partnership with the engineering schools Mines Paris - PSL, École Nationale des Ponts et Chaussées and AgroParisTech, has supported some 95 PhD and post-doctoral projects on the adaptation of buildings and infrastructure. Topics researched include urban microclimate modeling, forecasting building temperatures to 2050 and 2100 depending on the type of building, urban heat island effects, and life cycle assessments of a neighbourhood’s buildings and infrastructure.