Reduction objectives. Science Based Target (SBT)
The reduction of greenhouse gas emissions (GHG) is presented as a present objective in each and every one of the company's divisions. Year after year, overcoming new goals leads us to think that we can continue to improve and take a step towards more efficient processes and less impact.
Ferrovial has gad its emissions reduction targets approved by the Science Based Targets initiative as consistent with climate science. The targets covering greenhouse gas emissions from Ferrovial´s operation (scope 1 and 2) are consistent with reductions required to keep warning to 2ºC.
Ferrovial’s target for the emissions from its value chain (scope 3) meet the SBTi’s criteria for ambitious value chain goals, meaning they are in line with current best practice
Ferrovial is the first Spanish company, as well as the first in terms of infrastructure and services, to achieve its emission reduction targets certified by the Science Based Target Initiative (SBTi), indicating that they are supported by scientific criteria. The company has committed to reduce by 32% the emissions of scopes 1 and 2 (those generated by its own activity) until 2030, using 2009 as its base year. This is equivalent to reducing emissions by 42.9% for every million euros of revenue. It also undertakes to reduce scope 3 emissions (indirect, excluding capital goods, purchased goods and services) by 20% until 2030, using 2012 as the base year.
The SBT initiative comes from collaboration between the United Nations Global Compact, the Carbon Disclosure Project (CDP), the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), in order to promote more ambitious emission reduction targets, thus facilitating the transition and growth of business activities towards a low carbon economy. The initiative promotes best practices for setting objectives based on scientific criteria, provides resources that facilitate their adoption and assesses the reduction of the carbon footprint. In order for these targets to be approved, they must be aligned with the Paris Agreement, which aims to achieve decarbonisation so that the global temperature increase is less than 2 degrees Celsius at the end of the century, compared to the pre-industrial period.
This certification endorses Ferrovial’s strong commitment to the development of a sustainable economy and the fight against climate change. The company has an A rating on the list developed by CDP, which makes it an ambassador for climate change. It has also been part of the Dow Jones Sustainability Index since 2002 and FTSE4Good since 2005 and was one of the first Spanish companies to join the Global Compact initiative.
Actions to reduce emissions
To meet this commitment, Ferrovial has developed and implemented actions to reduce emissions, both specific to each business area and in general:
- Incorporation of energy efficiency criteria in the purchase and subcontracting of services, purchase of renewable source electricity, use of alternative fuels or increase of alternative vehicles.
- The Sustainable Mobility Strategy for Ferrovial workers began in 2008 and has progressively extended to the main corporate headquarters as a pioneering experience in the business field. As part of these plans, actions have also been taken to improve fleets of vehicles and training programs to promote efficient driving (especially in Construction and Services).
- The development of technology and processes aimed at optimizing the avoided emissions chapter.
Incorporation of energy efficiency measures in buildings occupied by corporate headquarters. As an emblematic example of these actions, Ferrovial’s headquarters in Príncipe de Vergara has reduced its electricity consumption by 48.32% compared to 2008, following the energy renovation works and temperature adjustments and air conditioning schedules in the building.
- Ferrovial has joined several initiatives promoted by CDP along with Science Based Targets, UN Global Compact, WWF and World Resources Institute.