The actions in the transition plan can be thematically assigned to four main decarbonization levers: Cooperation with Clients and Partners, Low emission construction materials, Increasing Efficiency and Effectivity, and Renewable Energy. These actions address HOCHTIEF’s main emission sources and pave the way for continuous reduction of GHG emissions in all scope categories. Responsibility for implementation lies with the operational units, and progress is tracked against targets. The actions extend across all business activities and apply to all operating regions.

We do not yet have internal carbon pricing. We took preliminary steps toward developing such a carbon price in the reporting year. We have developed an initial approach that has not yet been implemented but is currently being tested and analyzed. The aim is to create an effective system in the future that helps cut carbon emissions across all project phases while remaining cost-effective. Our experience in pilot projects to date shows that incorporating an internal carbon price into the subcontracting award process is a useful approach. Initial successes with taking subcontractors’ carbon footprint into account in a pilot project encourage us to take this approach further. It creates incentives for our subcontractors to develop and implement innovative and low-emission solutions.