Climate Action Plan

At Mundys we are committed to actively support the energy transition of the transport industry. To do so, we set for ourselves ambitious targets aligned with scientific trajectories and specific actions to Implement.

The transport of people and goods is one of the activities having the greatest impact on the social and economic development of territories and communities. However, the transport sector is also one of the largest sources of greenhouse gas (GHG) emissions, due to fossil fuels that remain the dominant source of energy consumption in transport.​​​​​​​

For our direct emissions, we are committed in achieving net-zero by 2040, 10 years earlier than the objectives of the Paris Agreement.
To reduce our scope 1 & 2, we focus on key emission targets, in line with the recommendations of SBTi (Science Based Target initiative) under the 1.5°C scenario. In particular:
  • -50% by 2030 absolute reduction of direct emissions vs 2019 baseline (tCO2e) - target SBTi validated
  •  77% by 2030 electricity consumption from renewable sources, reaching 100% by 2040 at the latest
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Off-setting activities were not considered in the definition of the target, and the associated decarbonization action plan. 
The main emissions reduction pathways to achieve those targets are:

  • Company fleet vehicle replacement (e.g. EV, use of alternative fuels)
  • Energy efficiency in buildings (e.g. HVAC replacement)
  • Lighting efficiency (e.g. LED technology)
  • Low-carbon energy generation (e.g. PV)
  • Low-carbon energy consumption
We are also committed to reduce indirect emissions along the value chain with the long-term ambition of achieving net-zero by 2050. We are eager to play an active role in teaming up with our stakeholders to engage in joint efforts to decarbonize the transport industry.

To reduce our scope 3, we focus on key emission targets (covering >67% of indirect GHG emissions), in line with the recommendations of SBTi under the well-below 2°C scenario. In particular:

Upstream emissions:
  • -22% by 2030 intensity reduction of emissions related to purchased materials associated with road infrastructure development, maintenance and operation vs 2019 baseline (tCO2e/mln km travelled) - target SBTi validated​​​​​​​
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Downstream emissions:​​​​​​​
  • >60% by 2028 engagement of airline companies by emissions of aircrafts during lending and take-off phases (LTO) to support them in setting emission reduction plans – target SBTi validated
  • -50% by 2030 absolute reduction of emissions of companies in which Mundys holds a minority stake vs 2019 baseline (tCO2e) – target SBTi validated
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Other emissions:

  • -22% by 2030 intensity reduction of emissions related to the accessibility of passengers to the airports vs 2019 baseline (KgCO2e/passenger)
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The main emissions reduction pathways to achieve those targets are:

  • Process circularity promotion, through the reuse and recycling of materials
  • Procurement of goods and services with lower life cycle emissions
  • EV charging points installations for passengers and operators
  • Improvement of intermodality solutions and rail accessibility to the airport terminal
  • Services to improve the flow, accessibility and user-friendliness of urban mobility and adjacent infrastructures
  • Promotion of green electricity and low-emission fuels use

The year chosen for baseline emissions is 2019, which represents a pre-pandemic scenario.
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Oversight of ESG topics, including climate change, by the Board of Directors is a good governance practice that Mundys fosters for its investee companies as well, by requiring the approval of ESG plans and targets by the BoD at all main subsidiaries. Board and Executive management Committees overseeing ESG topics, including climate change, are established within all the key subsidiaries and they are progressively expanding across the portfolio.

More on the governance of sustainability topics here

In order to foster management accountability on sustainability performance across the portfolio, Mundys promotes the adoption of significant portion of  incentive remuneration (at least 10% of short-term and 20% of long-term incentives) linked to the achievement of emission reduction target and other sustainability objectives, alongside financial and operational metrics. Currently, ESG-linked remuneration schemes are in place for >90% of subsidiaries.

More on the remuneration here

Mundys cooperates with public decision-makers and partners to contribute via our industry knowledge, assets, experience and innovation capabilities to accelerate decarbonization of the transport industry, thereby contrasting climate change in line with the Paris Agreement.

More on responsible lobbying here

More on partnership here

In line with the TCFD recommendations, we perform a Climate Change Risk Assessment (CCRA) to identify, analyze and evaluate major climate-related risks and opportunities, accounting for different time horizons (short-, medium- and long-term) and considering different climate change scenarios. 
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More on the CCRA here (pg. 12-16): 

Recognizing climate change as a strategic risk, that can negatively affect the achievement of the mission, strategic objectives and perception of the reputation of the organization, Mundys has dedicated a specific risk assessment methodology which is integrated into the Enterprise Risk Management (ERM) model.​​​​​​​

More on the ERM here (pg. 60-65):

The following table presents the progress vs 2019 with respect to the targeted emission:
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Mundys' climate strategy and performance are each year covered by an external certification (ISO 14064) and publicly disclosed in external documents and international recognized frameworks.

More on our annual Carbon Disclosure Project (CDP) disclosure here

More on our Integrated Annual Report here (pg. 116-121 & 159-160)

2022 Climate Action Plan