In addition to the "Ferrovial, Natural Capital" program, the company develops different projects related to biodiversity, aiming both to evaluate and mitigate the impact on the natural spaces or ecosystems affected by its activity, and to anticipate market trends and the case being, take advantage of the opportunities that arise.
Ferrovial Works with a range of scientific institutions (CSIC, Universidad Rey Juan Carlos de Madrid, USAL) to develop a corporate-scale methodology to measure the company’s impact on natural capital and therefore on biodiversity.
This is occurring within the framework of a project known as Corporate Ecosystem Valuation, which introduces the concepts of natural capital, ecosystem services and biodiversity as elements for assessing the dependence and impact of companies on them from a qualitative, quantitative and monetary standpoint
The aim is to make available a contrasted and replicable evaluation method applicable to all activities, which can serve as a tool for decision-making, incorporating the No net loss criterion.
This tool will enable correct application of the mitigation hierarchy, with the intention of not only restoring or offsetting impacts on ecosystems, but also avoiding and minimizing them. Once it has been designed, trialling of the methodology will commence on specific contracts and, following this process, it will be automated so that evaluation is completed systematically.
Ferrovial also participates in the public-private partnership Iniciativa Española Empresa y Biodiversidad (Spanish Business and Biodiversity Initiative) project with Fundación Biodiversidad and the Ministry for Ecological Transition.
Ferrovial is also a partner of WWF, with whom it produced the Guide for Timber Procurement. This guide features references and a range of resources and tools geared towards aiding adaption to the changes taking place in the sector for legal and responsible trade in forest resources. The final aim is to become able to establish traceability procedures which guarantee the legal origin of timber resources, thereby ensuring their conservation. In 2011, Ferrovial signed up to a commitment for responsible procurement of timber products in spite of the fact that the volume of such products is of low significance to the company when compared to other types of materials (it is viewed as a critical material due to its nature). Ferrovial-Agromán is the Group’s largest consumer of this type of products. In the case of Ferrovial Agromán, in order to ensure compliance with targets set, an in-house procedure operates so as to guarantee the origin of timber used by its suppliers on-site.
Moreover, Ferrovial supports different initiatives, aligning its biodiversity strategy with national and European policies, goals and plans. In these terms, Ferrovial Agromán has for years now operated a specific procedure for quantitative risk assessment linked to protected or high-ecological-value areas and the implementation of the measures required for risk mitigation and monitoring.
Regarding the emerging biodiversity markets, Ferrovial has been delving deeper into the different existing offsetting mechanisms. Ferrovial is currently keeping a watch on the development of new legal frameworks in countries including Spain and the United Kingdom.