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.
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 / Sustainability Policy update / Sustainability Master Plan / New Corporate Sustainability Reporting Directive (CSRD)
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.
In response to the result of the 2024 Double Materiality Analysis, CAF publishes the Master Plan that also develops the Sustainability axis of 2026 Strategic Plan and acts as our compass and main lever of change to achieve our vision and objectives in terms of sustainability.
We aim to be leaders in sustainable mobility, committed to combating climate change and supporting our stakeholders, thus contributing to societal progress and the well-being of the planet. This plan outlines our roadmap for achieving these goals and presents our vision for managing key sustainability priorities within our business.
Sub-material topics based on the Double Materiality Analysis
Sustainability
Policies and commitments
POLICIES AND RULES
SPECIFIC POLICIES AND RULES
You can request the specific policies for the Group's activities by writing to esg@caf.net
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
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 (I) | Real-FY23 | Real-9M24 | Objetive-FY24E | Objetive-FY26E | Objetive-FY30 | Objetive-FY45 | |
|---|---|---|---|---|---|---|---|
| CO2 emission reduction. Scope 1&2 (base year 2019, SBTi) | better | 32,6% | Annual | 21,0% | 30,0% | 55,0% (II)* | Net Zero* |
| CO2 emission reduction. Scope 3 (product use) (base year 2019, SBTi) | better | 46,8% | Annual | 30,5% | 40,0% | 55,0%* | Net Zero* |
| EU taxonomy alignment (Turnover) | better | 80% | Annual | 82% | 84% | ||
| Frequency rate | better | 14,1 | 14,9 | 14,0 | 13,5 | ||
| Customer satisfaction rating (1/10) | better | 7,9 | Annual | 7,9 | 8,0 | ||
| Organisational health index (1/10) | better | 6,6 | Annual | 6,7 | 6,8 | ||
| CDP Sustainability Assessment | better | B | Annual | A- | A- | ||
| Sustainalytics Sustainability Assessment | better | Low risk | Low risk | Low risk | Low risk | ||
| MSCI Sustainability Assessment | better | A | AA | A | A | ||
| S&P Sustainability Assessment | better | 63 | 60 | 66 | 70 | ||
| Ecovadis Sustainability Assessment | better | 83 | 79 | 75 | 75 |
Indicators (I)
better
Real-FY23
32,6%
Real-9M24
Annual
Objetive-FY24E
21,0%
Objetive-FY26E
30,0%
Objetive-FY30
55,0% (II)*
Objetive-FY45
Net Zero*
(I) Regardless of this choice of indicators, CAF Will report in its Sustainability Report material quantitative Data Points identified as material.
(II) The emissions reduction target for scope 1 &2 in the Strategic Plan amounted to 50,0% for FY30E. There has been an adjustment to 55,0% following SBTi validation.
(*) CAF Group's emissions reduction targets for 2030 and 2045 have been validated by the Science Based Targets initiative (SBTi).
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.
Reports
Non-financial corporate reports
Non-financial specific reports
.