Environment and Quality Annual Report 2001 A new concept of business “Business is a key player in today’s society and it has gained prestige and leadership in recent years. This may be why citizens are starting to demand that,  in addition to its traditional economic activity,  business should give more importance to other factors: that   its   products   and   services   contribute   to   society’s   wellbeing,   that   its   activities preserve  the  environment  or  support  the  social  and  economic  development  of  the communities  in  which  it  operates  while  being  sensitive  to  their  characteristics  and needs. Until  now,  these  factors  were  considered  to  be  marginal,  philanthropical  or  a  social dividend. The novelty is to integrate them naturally into business and rationalize their management   so   that   they   can   contribute   to   the   essence   of   business:   economic profitability as a key factor for growing and creating wealth in the local community. Although this concept is still in its infancy in Spain, the world’s largest companies already use a triple accounting system (financial, environmental and social). Consequently, their traditional  financial  statements  include  a  section  on  the  environment  and  on  social commitments.  These  companies  are  known  as  “socially  responsible  companies”   or “companies committed to sustainable development”. Fundación Empresa y Sociedad Ferrovial  wishes  to  be  a  pioneer  in  this  concept  in  Spain,  aware  that,  even  though  it  is  the benchmark   company   in   environmental   issues,    community   matters   are   now   the   main component of its future commitment. Ferrovial’s environmental and social responsibilities Civil engineering, home building, concession management, property development and services have   major   impacts   on   social   and   economic   development.   Both   types   of   impact   shape practically all Ferrovial’s actions and have attained vital importance in day-to-day matters. Ferrovial  is  taking  the  opportunity  to  pioneer  change  in  the  sector  so  that  it  integrates economic,  environmental  and  social  issues  in  its  day-to-day  activity  based  on  the  fact  that greater social and economic commitments benefit business.