Reporting Principles


Ferrovial is constituted by the parent company, Ferrovial S.A., and its subsidiaries. For detailed information on the companies included, the scope of consolidation can be consulted in the Consolidated Annual Accounts.

During 2021 there were operations that involved changes in the perimeter due to the acquisition of companies, the awarding of new contracts or start of new businesses. There have also been company restructurings. It is worth noting the sale of the Environment division of Ferrovial Services in Spain and Portugal to PreZero for 1,133 million euros. For more information, see pages 48-76 of Business Performance.


The report includes all companies in which Ferrovial has economic control, meaning as a participation of over 50%. In these cases, 100% of the information is reported. The list of subsidiaries and associated companies can be found in Appendix II of the Consolidated Financial Statements, pages 281 – 295. Although the Services business is treated as an activity classified as financially discontinued, as it is available for sale, in order to comply with the requirements of Law 11/2018 on non-financial information, it does include this division in its perimeter, offering a complete view of all aspects and impacts of the business. Therefore, in cases where it is considered material, data from the Services division will be disaggregated.

Likewise, following the indications of the GRI Sustainability Reporting Standards, Ferrovial provides information on indicators and material aspects “outside the organization”, when these data have sufficient quality, and always separately. Ferrovial considers that the most relevant impacts are those related to the 407 ETR Toll Road in Canada and the airports in the United Kingdom, companies in which its shareholding does not reach 50%. Some indicators of interest associated with these assets are those related to indirect emissions (scope 3), user satisfaction, or the number of passengers transiting through the airports. 


Ferrovial guarantees the traceability of information relating to Corporate Responsibility thanks to a reporting system, which has been available since 2007. This provides detailed information to company level, facilitating partial consolidation by geography or business. In 2021, a thorough review of the information requested was carried out to adapt the system to the information requirements of the company’s different stakeholders and the recommendations of the external and internal auditors. The software used has enabled corporate management to gather quarterly information for management and internal reporting to Senior Management. 

In 2021, the reporting system enabled the collection of 640 quantitative and qualitative indicators, in 108 companies, thanks to the collaboration of more than 200 users.


During 2021 there were a number of changes in the perimeter of companies that may affect the comparability of the data contained in the Report, although these are not particularly relevant in comparison with the company as a whole. To guarantee the maximum transparency and comparability of the data, the body of the report itself indicates when any indicator from previous years has been modified or shows significant changes that affect the comparability of the information. The Report takes into account most of the requirements on the Statement of Non-Financial Information carried out by the National Securities Market Commission (CNMV).


Ferrovial is committed to transparency of the information it shares with the market, through the continuous improvement of communication channels with all its stakeholders, based on innovative corporate information that, in addition to financial aspects, takes into account environmental and social variables. 

The company considers stakeholders to be individuals or social groups with a legitimate interest who are affected by the company’s present or future actions. This definition includes both the stakeholders that form part of the company’s value chain (shareholders, employees, investors, customers and suppliers), considered as partners in the development of the business, and external stakeholders (administrations, governments, the media, analysts, the business sector, trade unions, the third sector and society in general), starting with the local communities in which the company carries out its activities.

This relationship is dynamic, as the environment is changing at an increasingly rapid pace. Ferrovial’s business depends to a large extent on relations with the Public Administrations of the countries in which it operates. Ferrovial holds decision-making positions in organizations that promote Corporate Responsibility at a national and international level, such as the SERES Foundation, Forética, the Spanish Network of the Global Compact, the CEO CSR Committee and the Spanish Association for Quality (AEC). In 2021, Ferrovial held the presidency of the Spanish Group of Green Growth and the CEO of Ferrovial has become a member of the Executive Committee of the Seres Foundation. The company also collaborates with other organizations that promote sustainability in different areas, such as the Green Building Council (GBCe), Climate-KIC, Corporate Leaders Group, Pacto por la Economía Circular, EU Green Growth Group, Fundación Empresa y Clima, We Mean Business and European Climate Pact. 

Ferrovial is characterized by absolute political neutrality, carrying out its activities for both public administrations and private clients in the countries where it operates. The company does not make financial or in-kind contributions to political parties or electoral candidates. However, Ferrovial is a member of business representation organizations or foundations for commercial exchange between countries linked to the development of its activity or the geographical area in which it operates. Through its presence and collaboration with these organizations, the company aims to contribute to the progress and development of all those fields of action in which it is present. Among these contributions, the contributions made to the Association of Infrastructure Contractors and Concessionaires (SEOPAN) and the World Economic Forum stand out.

Ferrovial’s considerations of the principles related to the content of the report, are explained in the specific section on materiality. For more information on the AA1000, GRI and SASB standards, see pages 160-168.

2019 2020 2021

Lobbying activities or sector associations




Commercial associations




Total Contribution






Ferrovial considers relevant issues to be all those that may have a substantial influence on the assessments and decisions of stakeholders, affecting the ability to meet their present needs without compromising future generations.

The company has established a biennial process for conducting its materiality study, the last edition of which took place in 2020. In its analysis phase, the requirements of reporting frameworks such as GRI and SASB, World Economic Forum, socially responsible investor consultations and sustainability indexes, relevant sector reports, as well as specific reports on COVID-19 prepared by prestigious consulting firms were considered. 

An online survey was also conducted among Ferrovial managers, as well as representatives of the different stakeholders in the main geographies in which the company operates. In 2021, based on the previous year, the issues that were most relevant for the company and its stakeholders during the year were analyzed. In this way, the report offers a balanced and objective view of those issues that, due to their nature, have significantly affected the company.

  • a Concordia Bridge, Madrid, Spain.