Commitment

Ferrovial began its journey more than a decade ago by implementing its Climate Strategy and setting reduction targets. This strategy has enabled Ferrovial to reduce emissions by 56% in 2020 (vs 2009, base year, in terms of carbon intensity), and increase renewable energy sourcing up to 68% globally.

Ferrovial is now speeding up the decarbonisation of its portfolio and operations by agreeing ambitious reduction targets:32% in absolute terms by 2030 (regarding direct sources, i.e. Scope 1&2), and reducing 20% indirect emissions (Scope 3).

Ferrovial has been the first company of its sector globally to have its reduction targets independently validated (SBTi). Moreover, the company will be 100% renewable by 2025 and carbon neutral by 2050. Additionally, its 2030-50 Climate Strategy deepens business R&O providing a roadmap to develop further business opportunities. It has reinforced its commitment to sustainability and reaffirms the importance of the SDGs in its strategic plans and all its activities. To this end, the company has set out several lines of action in its Climate Strategy, aimed at contributing to decarbonising the economy and combating the effects of climate change. The company works actively to minimise its environmental impact and offer products and services that promote the development of a sustainable economy. To this end, Ferrovial’s climate strategy also promotes the circular economy, offsets its impact on biodiversity and minimises its water footprint.

Climate change is a key element in the company’s governance, which incorporates both the recommendations of theTask Force on Climate Disclosures (TCFD), as climate risks within the Ferrovial Risk Management (FRM) corporate risk identification and assessment system.

During 2019 and 2020, work was carried out on the Deep Decarbonisation Path plan, included in Ferrovial’s Horizon 24 strategy to achieve emission reductions in the construction and infrastructure area by 2030, where the main lines of work are: 100% electricity consumption from renewable sources by 2025; renewing the fleet to 33% zero-emission vehicles by 2030; improving energy efficiency in asphalt plants by 20%; and increasing energy efficiency in construction machinery by 10%.

Lighthouse initiative

Ferrovial Shadow Carbon Pricing – Ferrovial has developed a tool to quantify the climate risk of its most relevant investments in the form of “shadow carbon pricing”, in order to accelerate the decarbonisation of its business models. This tool considers variable prices for a ton of carbon for different time horizons, regions and project types, thus quantifying the potential economic risk in the projects for which the tool is used.

Ferrovial’s initiative on carbon pricing is fully aligned with the Paris Climate Agreement and investors’ expectations, incentivising a shift in investment toward carbon abatement, as well as providing better information for making decisions on significant investments. Ferrovial’s methodology follows an evidence-based approach, drawing on the best available published data and studies, to forecast future changes in effective carbon prices.

Making Sustainable Infrastructure that Can Improve our Mobility

At Ferrovial, we are always thinking about the future of mobility, designing new mobility solutions that are effective and environmentally friendly.