Ferrovial

Construction & Engineering

FER.MC

€ 27 0.81

Share price

$ 22 bn

Market Cap

$ 31 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.71x the weighted average for S&P 500

FY2021

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

Weaker than the -6.6% weighted average for S&P 500

FY2022

Ferrovial aims to achieve net zero for Scope 1 + 2 by 2050

This target has not been verified as science based according to SBTi

Secondary Climate Goal

Proj. YOY change in GHG emissions (Scope 3)

FY2022

Ferrovial aims to reduce Scope 3 by 20% by 2030 from a base year 2012

This target is most likely outdated and the company appears to have already achieved it

2°C

GHG emissions and Carbon intensity

Ferrovial reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 798 Kt (-45 /-5.3% y-o-y). Also positively, carbon intensity was down at 99 t (-11 /-10% y-o-y).

Ferrovial's Scope 3 emissions was down at 2,850 Kt (-318 /-10% y-o-y). The decline accelerated compared to the CAGR of -5.8% since 4Q'12.

The company is committed to achieving net zero for Scope 1 + 2 by 2050, which translates into the estimated reduction of -28 Kt per annum over the period of FY2022 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Also, the company commits to reducing Scope 3 by 20% by 2030 from a base year 2012, which it appears to have already achieved as of 2021. This science-based target is aligned with Paris Agreement to limit global warming to 2°C above pre-industrial levels.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2021Q4	798	761	37	2,850	8,045	99
2020Q4	843	796	47	3,168	7,649	110
2019Q4	950	889	61	3,381	6,804	140
2018Q4	924	832	91	3,729	6,783	136
2017Q4	973	861	112	2,699
2016Q4	922	806	116	2,997
2015Q4	744	626	118	3,653
2014Q4	646	548	98	3,813
2013Q4	655	549	106	3,535
2012Q4	678	559	119	5,180
2011Q4	771	658	113	1,526
2010Q4	835	710	125	810
2009Q4	1,139	973	166	816