Ferrovial began its environmental journey over a decade ago through its Climate Strategy, which set ambitious commitments to combat climate change. This strategy has enabled Ferrovial to reduce its CO2 emissions by 25.35% in 2022 (scopes 1 and 2 in absolute terms compared to 2009) and increase renewable electricity sourcing by up to 70% globally.
Ferrovial is accelerating the decarbonization of its portfolio and is one of the first companies in its sector to have its ambitious emissions reduction targets approved by the Science Based Targets (SBTi) initiative. By 2030, it aims to reduce scopes 1 and 2 in absolute terms by at least 35.3%, 42.9% of scopes 1 and 2 in terms of intensity, and indirect emissions (scope 3) by 20%.
Ferrovial is a pioneer in that it is one of the first IBEX 35 companies to have presented and approved its Greenhouse Gas Emissions Reduction Plan for the 2030 and 2050 horizons at its General Shareholders’ Meeting. For Ferrovial, sustainability is a commitment and an opportunity to create value for all its stakeholders.
In addition, its Climate Strategy 2030-50 reinforces the business’ R&D activities, which establish a roadmap to develop new business opportunities. The measures implemented aim to decarbonize the economy and mitigate the effects of climate change. The company works hard to minimize its environmental impact and offers products and services that promote the adoption of a sustainable economic model. Ferrovial’s Climate Strategy is based on the circular economy model, while the company offsets its biodiversity impact and minimizes its water footprint.
Climate change is also a key element in the company’s governance, which incorporates the recommendations of the Task Force on Climate Disclosures (TCFD). The recognition and assessment of climate risks are integrated into Ferrovial’s Risk Management (FRM) corporate system.
These are the reasons why Ferrovial is seen as a global reference in the field of sustainable infrastructure. The fact that its Climate Strategy is fully integrated into the Corporate Strategy highlights the company’s commitment to achieving progressive and effective decarbonization of its activities and of the economy.
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”, to accelerate the decarbonization 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 associated with climate change in the projects where the tool is used.
Ferrovial’s carbon pricing initiative is fully aligned with the Paris Climate Agreement, the EU’s taxonomy system, and the expectations of investors and financers, which is a direct incentive towards achieving the decarbonization of the economy, as well as providing quality information to redirect investments towards more sustainable activities.
The Deep Decarbonization Path plan, included in Ferrovial’s Horizon 24 strategy, sets the route to achieve the reduction targets set by the SBTi for 2030 in construction and infrastructure. The main steps in this plan are 100% electricity consumption from renewable sources by 2025, 33% fleet emissions reduction by 2030, improving energy efficiency in asphalt plants by 20%, and increasing energy efficiency in construction machinery by 10%.
For years, Ferrovial has positioned itself as an industry leader that builds and operates sustainable infrastructures while looking for new business opportunities in mobility, water, electrification, energy efficiency and infrastructure adaptation. By providing solutions through its low-carbon business models, Ferrovial has become a strategic partner for emission mitigation and adapting to the effects of climate change.
“Ferrovial works hard to minimise its environmental impact and offer products and services that promote the adoption of a sustainable economic model. The company has established several initiatives in its Climate Strategy to support the decarbonisation of the economy and mitigate the effects of climate change.”
Respect for the environment and striving to support responsible social development are behind all of our actions and our commitments. This update to our strategy is linked to the Sustainable Development Goals (SDGs) put forth by the UN to make the world a better place by 2030.
