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Sustainability

We develop sustainable transportation solutions that improve people's lives

Sustainability at CAF

Sustainability has been a cornerstone of our evolution since our founding over a hundred years ago. We have been taking steps towards becoming a more responsible company, beginning with a diverse range of eco-friendly transport solutions while always considering the expectations and interests of our stakeholders in the value chain.

We are CAF, we are sustainable.

Andrés Arizkorreta
Andrés ArizkorretaCAF President

Key sustainability milestones in our recent history

2011Code Conduct

2015Corporate Social Responsibility Policy

2016First Sustainability Report (GRI), First Materiality Analysis, Sustainability Committee Constitution

2017Mission, Vision, Values

20182018 Sustainability Report verified by an independent third party

2020Sustainability Policy

2021ESG Equity Story

2022Strategic Plan

2023Purpose, Update of the Governance Model, Update of the Code of Conduct

2024Green and Sustainable Financing Framework, Double Materiality

Governance

The Board of Directors, supported by its Committees, is the highest governing body of the Organisation with responsibilities in sustainability and climate strategy and is regularly informed of activities in these areas.

Reporting to the Board of Directors, the supervision and evaluation of the Sustainability Policy, as well as environmental, climate, and social practices, fall under the remit of the Nominations and Remuneration Committee. The Non-Financial Information Control System, or Sustainability Control System (SCIINF / SCIIS), along with risk oversight, is the responsibility of the Audit Committee.

The Chief Executive Officer (CEO), within the Strategic Sustainability Committee, leads the compliance, implementation, and monitoring of sustainability principles and objectives, as well as the approval of strategic decisions on sustainability matters, in alignment with the Strategic Plan and Sustainability Policy. This Committee is primarily responsible for approving and overseeing sustainability and climate change strategy and major initiatives, and it reports to the Nominations and Remuneration, and Audit Committees.

The integration of the strategy into the Group’s Business Model and Management, by activity, is led by the Sustainability Function within the Operational Sustainability Committee.

Finally, the management of material issues at Group level and by activity is addressed in the relevant specialised forums, which are tasked with implementing the Group’s strategy across all functions and areas.

Materiality

In 2024, we conducted the Double Materiality Analysis, broadening our holistic approach to managing impacts, risks, and opportunities (IROs) across the entire value chain, both upstream and downstream. This highlights CAF’s commitment to transparency, regulatory compliance, and the creation of sustainable value for stakeholders, ensuring responsible practices at each stage of operations.

At present, in response to the 2021 Materiality Analysis, our priorities focus on the following issues:

PRIORITY

1Product and service quality and safety
2Climate strategy
3Sustainable and efficient mobility
4Respect for human rights
5Health and safety in the workplace
6Responsible and sustainable supply chain
7Compliance and ethics in business
8Good corporate governance
9Excellence in the relationship with stakeholders
10Environmental management

RELEVANT

11Circular economy and sustainable use of resources
12Talent development
13Diversity and equal opportunities
14Fiscal responsibility and transparency
15Risk and opportunity management
16Innovation and technology
17Information security
18Contribution and social development
Sustainability

Policies and commitments

Commitments

CORPORATE COMMITMENTS

1Adhered to the United Nations Global Compact
2We contribute to the Sustainable Development Goals included in the 2030 Agenda for Sustainable Development approved by the United Nations General Assembly
3Management Model aligned with the ISO 26000 standard and verified by an independent third party
4Sustainability Report based on GRI and verified by an independent third party
5CAF participates in the Railsponsible sector initiative
6Adhered to the SBti initiative and the initiatives of alignment against climate change and with the Paris Agreement
7Certified under ISO 27001
8Recommendations of the Code of Good Governance for listed companies of the Spanish National Securities Market Commission (CNMV)
9Certified under ISO 45001
10Certified under ISO 14001
11Certified under ISO 9001
12Certified under the EMAS standard
13Certified under the IRIS / ISO 22163 railway standard

SPECIFIC COMMITMENTS

You can request the certificates by writing to esg@caf.net

14Certified under UNI PdR 125 standard (Parità di Genere) (Italy)

Objectives and results

Monitoring and control of compliance with our sustainability objectives is carried out through the Responsible Management Scorecard. This instrument allows for a continuous and detailed evaluation of our progress in relation to the objectives established in our Sustainability Policy and Strategic Plan, in addition to responding to material issues of priority for our stakeholders throughout the value chain.

Indicators Real-FY23Real-9M24Objetivo-FY24EObjetivo-FY26E
CO2 emission reduction. Scope 1&2 (base year 2019)better32,6%Annual21,0%30,0%
CO2 emission reduction. Scope 3 (product use) (base year 2019)better46,8%Annual30,5%40,0%
EU taxonomy alignment (Turnover)better80%Annual82%84%
Frequency ratebetter14,114,914,013,5
Customer satisfaction rating (1/10)better7,9Annual7,98,0
Organisational health index (1/10)better6,6Annual6,76,8
CDP Sustainability AssessmentbetterBAnnualA-A-
Sustainalytics Sustainability AssessmentbetterLow riskLow riskLow riskLow risk
MSCI Sustainability AssessmentbetterAAAAA
S&P Sustainability Assessmentbetter63606670
Ecovadis Sustainability Assessmentbetter83797575
Indicators
better
Real-FY23
32,6%
Real-9M24
Annual
Objetivo-FY24E
21,0%
Objetivo-FY26E
30,0%

Sustainable finance

At CAF, we believe that sustainable finance is essential for carrying out the green transition towards a climate-neutral economy, directing capital towards assets that not only generate economic value, but are also useful for society and not harmful to the environment. In fact, achieving the Sustainable Development Goals (SDG) and climate agreements requires the mobilization of huge financial flows, many of which will have to come from the private sector.

We are aware of the importance of sustainable finance. That’s why we have taken an active role in developing our green and sustainable financing Framework.