(Ferrovial) EU Emissions Trading

All of Ferrovial's UK operations (BAA, Amey and Ferrovial-Agroman UK) participate in the UK Government's emissions trading scheme known as Carbon Reduction Commitment (CRC) that entered into force in April 2010. The CRC is a new piece of legislation designed to drive energy efficiency improvement across businesses that consume more than 6,000MWh of energy a year. It is proposed that the first phase of the CRC, there will be a three year introductory fixed price of £12/tonne CO₂. As of April 2013, the capped phase will start, in which there will be a limit on CO₂ allowances and the price will be variable, with allocation of allowances given by auction.

As part of the CRC, a league table will be published, ranking organisations on their carbon performance. This league table provides an opportunity for organisations desiring to demonstrate their ‘green’ credentials. The league table is not sector-specific, but ranks all participating organisations against each other. While performance relative to direct competitors is likely to be a primary concern, the single table format may create brand issues if organisations are in the bottom half of the league table. It is designed to apply at the highest level of a UK company's parent organisation. An organisation's energy efficiency is measured through a complex set of indicators and which then determine its position in a league table where its performance is compared to all other participants in CRC.

In this regard, the Quality & Environment Steering Committee meets quarterly or more frequently if necessary to analyze and establish actions to meet all legal requirements to participate in this scheme:

• BAA's approach to meeting compliance has been to nominate dedicated individuals to manage its compliance and ensure its integration into the airport operation. This approach combined with the airport wide energy strategy has ensured effective delivery of compliance and improved performance.
• Amey. To ensure legal compliance, the company has invested time in identifying the overall structure of the organization in order to calculate the total consumption and report total emissions and Another project is underway to consolidate energy supply to unify the electricity supplier and since November 2009 all Amey´s centers consume energy derived from renewable sources.