For HOCHTIEF, climate change has long been a fundamental and central focus in its Group-wide environmental sustainability strategy. We plan to expand this strategic focus with the aim of making all our business activities climate-neutral in the long term (for further information, please refer to HOCHTIEF’s GHG reduction targets), and with the goal of supporting our clients through our projects in successfully adapting to climate change. To this end, HOCHTIEF has gathered data on greenhouse gases for over ten years and worked continuously on methodically improving Group-wide coverage, accuracy, and tracking in order to facilitate avoiding and effectively managing GHG emissions in all activities.

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.