Environmental risks

  • Risks arising from practices that may generate a significant environmental impact, mainly as an effect of construction work, waste product management or processing, transport infrastructure operation and the provision of other services.

  • Risk of failing to comply with current regulations, specifically those related to adapting the group's new activities to the latest environmental and planning regulations.

  • Risks of environmental pollution and damage related to the new European liability system (Directive 2004/35/EC). Although these liabilities are limited in some business areas (Construction), this is considered a significant risk in the activities carried out by Services (basically at waste product management facilities) and, to a lesser extent, at Airports, on Toll Roads and in Car Parks (for example, spills from fuel tanks and other ecotoxic substances).

Environmental risk management procedures have been introduced into these business areas. In addition, according to the new environmental liability system the European Union member states may, from 2012 onwards at the latest, demand financial guarantees from operators in order to remedy these types of risk. For this reason Ferrovial has adopted the decision to anticipate events, and in 2007 it signed an insurance policy for covering these risks in the terms established in this European regulation.

Similarly, and in order to ensure adequate knowledge of environmental regulations, in 2005 Ferrovial introduced an on-line information system (SIGMA) that can be consulted via the corporate intranet.

On the other hand, the Quality & Environment Department performs continuous monitoring of environmental legislation that is at the design stage, keeping in close contact with the legislators and participating in consultation groups for putting the new regulations into practice, in order to be ahead of changes in regulations that could affect the activities of Grupo Ferrovial.

Similarly, the business areas with the greatest environmental risk (Construction and Services) have implemented and had certified the environmental management systems that are described in Section II. 1. b). The Toll Roads and Car Parks division has moved ahead during 2007 with the introduction of an environmental management system that complies with the ISO 14001 standard, which is expected to be certified early in 2008, both in the Spanish and Portuguese toll road concession companies and in the Car Parks activity.