Ferrovial is the first Spanish company to validate its emission reduction goals as Science Based Targets Published on 20/07/2017
- The company has undertaken to cut the emissions produced by its own activities by 32% by 2030 from a 2009 based-year.
- The Science Based Targets (SBT) initiative is a joint initiative of CDP, the World Resources Institute (WRI), the World Wide Fund for Nature (WWF) and the United Nations Global Compact.
Ferrovial is the first Spanish company, and the first infrastructure company in the world, to have its emission reduction goals validated by the Science Based Targets(SBT) initiative.
Ferrovial has committed to reduce scope 1 and 2 absolute emissions (those produced by its own activities) 32% by 2030 from a 2009 base-year, this is equivalent to reducing emissions by 42.9% per million euro of turnover. The company also commits to reduce scope 3 emissions (excluding capital goods and purchased goods and services) 20% by 2030 from a 2012 base-year.
The Science Based Targets (SBT) initiative is a joint initiative of CDP, World Resources Institute (WRI), World Wide Fund for Nature(WWF) and the United Nations Global Compact whose goal is to increase ambition in corporate target setting to help companies future-proof growth during the transition to the low-carbon economy. The initiative defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. For a target to be approved, it needs to aligned with the ambition of the Paris Agreement which aims to achieve the level of decarbonization required to keep global temperature increase below 2 degrees Celsius compared to pre-industrial levels,
This formal approval ratifies Ferrovial’s firm commitment to the development of a sustainable economy and to combating climate change. The company is rated A by CDP, making it a reputable ambassador of climate change leadership. It is also a component of the Dow Jones Sustainability Index (since 2002) and FTSE4Good (since 2005) and was one of the first companies in Spain to adopt the Global Compact.
Valentin Alfaya, Health & Safety, Quality and Environment Director, highlighted: “At Ferrovial we are clear about the need of reducing radically carbon emissions. We are very proud of being part of those corporations leading the roadmap towards a low-carbon economy, lining up our reduction targets with the expectations of Science and global agreements on climate change”.
Cynthia Cummis from WRI and the Science Based Targets initiative steering committee said: “We congratulate Ferrovial on being the first Spanish company to have their industry-leading science-based target approved. This validation by our team sends a powerful message to their industry peers and to the business community in Spain and beyond. Setting science-based targets is a clear way of future-proofing growth in the transition to the low-carbon economy”.