Royal BAM Group — full event log

BAM targets a 75% reduction in construction and office waste intensity by 2030 (vs 2015) and a 50% reduction in use of non-biobased primary (virgin) materials by 2030 (vs 2019), alongside universal use of material passports and circularity assessments on A/B/C-classified and industrialised projects by 2030.

sustainability_report p.44

BAM reached conditional agreement to sell its remaining 50% share in Invesis (formerly BAM PPP) to PGGM Infrastructure Fund for approximately EUR107.5 million, as Invesis no longer aligns with BAM's 'Building a sustainable tomorrow' strategy. Resulted in a EUR107.0m impairment on carrying value and reclassification to held-for-sale/discontinued operations; expected to close Q1 2025.

sustainability_report p.160

In 2024, BAM developed a climate risk scan for division United Kingdom and Ireland based on the solution of partner South Pole, extending standardised climate risk scanning (previously standard only in the Netherlands) to help meet the 2026 target of climate risk scans on all A/B/C tenders.

sustainability_report p.81

BAM targets a 50% reduction in non-biobased virgin material use by 2030 (vs 2019) via its GROENR BETON low-carbon concrete (15-20% lower CO2), increased recycled steel use (67.3% recycled content in 2024), and its Flow biobased/timber industrialised housing concept (99.2% certified sustainable timber in 2024), addressing Category 1 purchased goods which is 63.6% of BAM's total Scope 1,2&3 footprint.

sustainability_report p.79

BAM strengthened its human rights approach in 2024 with new group-wide human rights guidance, aligned to UN Guiding Principles on Business and Human Rights, OECD Guidelines, and ILO conventions, including a deep-dive human rights risk assessment across own workforce and vendors.

sustainability_report p.103

BAM procures renewable electricity mainly through retail supply contracts bundled with Energy Attribute Certificates (EACs) rather than PPAs - e.g. 100% Dutch wind power from Eneco in the Netherlands and 100% wind/solar from Energia in Ireland. Overall green electricity share was 64% in 2024 (down from 69% in 2023) due to rapid growth in EV fleet charging where renewable sourcing cannot yet be guaranteed for public/home charging. BAM plans to purchase unbundled EACs to cover this gap and is targeting 100% renewable electricity use by 2030.

sustainability_report p.83

To address Category 11 (use of sold products, 25% of total footprint), BAM constructs low- and net-zero-energy assets (A+++/A++++ labels, passive house standards) such as the Southam College Pathfinder project, reducing lifetime operational energy of delivered buildings even though actual energy use is largely outside BAM's direct control once occupied by clients/tenants.

sustainability_report p.24

BAM reached agreement on 1 November 2024 to acquire 100% of WL Winet bv, a mobile telecom network installation specialist with ~EUR15m revenue and ~100 employees, to strengthen BAM Telecom's integrated mobile network services. Transaction closed 7 January 2025 for EUR14.4m net of cash.

sustainability_report p.173

BAM explicitly excludes any carbon offsetting from its pathway to meet the 2026 and 2030 Scope 1&2 targets, relying solely on real operational reductions (electrification, biofuels). BAM is also not currently pursuing biodiversity offsets, preferring direct mitigation and enhancement measures via its Biodiversity+ framework. No durable removals (DAC, BECCS, biochar) or nature-based credits are used or disclosed as part of BAM's inventory.

sustainability_report p.82

BAM's Scope 3 footprint is structurally dependent on two external drivers outside its control: decarbonisation of the electricity grids in its home markets (reducing downstream energy emissions of delivered assets) and decarbonisation of the construction materials industry (reducing upstream embodied carbon). BAM monitors these trends and collaborates with supply chain partners and grid operators to accelerate them.

sustainability_report p.79

BAM recalculated its 2019 Scope 3 GHG baseline on a like-for-like basis (excluding divested Belgium/Germany activities), applying consistent methodology to 2023/2024, reducing the extrapolated share of the 2019 baseline from 27% to 5% comparable to 2024, improving comparability and honesty of the baseline (harder to game).

sustainability_report p.88

BAM applied one reclassification in 2024, moving the GHG emissions of asphalt delivered by joint venture AsfaltNu to third parties from Scope 3 Category 1 (Purchased goods and services) to Category 15 (Investments), improving categorical accuracy.

sustainability_report p.88

Following mandatory rotation requirements, the Supervisory Board selected KPMG as the new external auditor for financial years 2026, 2027 and 2028, replacing EY Accountants B.V., subject to shareholder approval at the 2025 AGM.

sustainability_report p.48

BAM was awarded a place on the CDP Climate A List for the sixth consecutive year, recognising leadership in corporate transparency and performance on climate change; BAM was also included in the Financial Times Europe's Climate Leaders 2024 list.

sustainability_report p.25

BAM's value creation model and sustainability strategy explicitly align its six material themes and core business with UN Sustainable Development Goals 7 (affordable clean energy), 8 (decent work), 9 (industry/innovation), 10 (reduced inequality), 11 (sustainable cities), 12 (responsible consumption/production), 13 (climate action) and 15 (life on land).

sustainability_report p.10

The DPPO closed its 2022 investigation into BAM International and dismissed its suspicions. BAM's own internal review identified certain potentially irregular payments related to an unrelated completed Africa project, self-reported to the DPPO, which concluded not all payments were properly recorded and imposed a EUR30,000 penalty order, which BAM will not appeal.

sustainability_report p.114

Construction site fuel use is BAM's largest Scope 1&2 source. BAM reduced site emissions from 36kt to 22kt CO2 in 2024 via electrification of (heavy) equipment and replacing diesel with certified sustainable HVO, which now covers 54% of site fuel use (up from 27% in 2023), saving ~24kt CO2.

sustainability_report p.24

BAM developed and rolled out its own Biodiversity+ assessment tool (five drivers: habitat creation, sustainable resourcing, carbon reduction, pollution avoidance, biosecurity) and set a target to achieve an aggregated positive impact on biodiversity by 2030, having concluded the UK Biodiversity Net Gain metric was not suitable across all its markets and drivers.

sustainability_report p.91

BAM is electrifying its company car and van fleet; fully electric lease vehicles reached 66% of the fleet in 2024 (up from 40% in 2023), with vehicle-related electricity consumption rising 85% to 14.1m kWh. Vans face a longer transition due to limited EV availability; alternative fuels are used in the interim.

sustainability_report p.24

In 2024/January 2025 BAM had its 2030 CO2 targets and 2050 net-zero ambition revalidated and improved by SBTi versus its 2019/2021 submissions, adding absolute Scope 1&2 targets (-90% by 2030 vs 2015) and a validated net-zero target (minimum 90% reduction vs 2019) by 2050 covering Scope 1, 2 and 3.

sustainability_report p.78

BAM's sustainability strategy, launched in Q1 2023, is built around six material themes (decarbonisation, circularity, climate adaptation, biodiversity, safety/health/inclusion, social value) explicitly linked to United Nations Sustainable Development Goals 7, 8, 9, 10, 11, 12, 13 and 15.

sustainability_report p.10

BAM strengthened its approach to human rights in 2023 through a new cross-functional Human Rights Working Group, conducting risk assessments, third-party due diligence, mandatory Code of Conduct e-learning (target 95% completion), and a compulsory modern slavery e-learning for UK employees.

sustainability_report p.30

Division UK&I committed to delivering 20% social value on projects >€10 million by 2023, rising to 35% by 2026; Division Netherlands committed to deliver 5% social value on top of required obligations by 2026.

sustainability_report p.40

BAM set targets of at least 25% female representation on the Executive Committee, 22% female representation in senior leadership (sub-top) by 2023 rising to 30% by 2030, and maintained a one-third gender balance target for the Supervisory Board.

sustainability_report p.65

EY provided limited assurance over BAM's sustainability information reported in chapters 2, 3.2, 3.3 and 6 of the 2023 annual report, in preparation for CSRD applicability from 1 January 2024.

sustainability_report p.89

Fuel use on construction sites is BAM's largest CO2 source. BAM replaced conventional diesel with hydrotreated vegetable oil (HVO), increasing usage to almost 5 million litres in 2023 from over 3 million in 2022, covering 27% of construction site fuel use and delivering an estimated 13 kilotonnes of CO2 reduction. HVO use on BAM's own projects continues in 2024, with an ambition to embed HVO usage contractually in new joint-venture projects.

sustainability_report p.33

BAM performed its first Double Materiality Assessment in 2023, applying both impact materiality (inside-out) and financial materiality (outside-in) methodology in preparation for CSRD applicability from 2024, resulting in additional material topics including circularity and return on inclusion.

sustainability_report p.83

BAM continues focusing on electrification of equipment to reduce dependency on fossil fuels on construction sites, including the introduction of the first fully electric drilling rig in the Netherlands (saving up to 500 litres of diesel per day) and acquisition of two hydrogen combustion engine generators as diesel replacements. BAM aims to replace small equipment needing replacement with electric alternatives.

sustainability_report p.33

BAM reported Incident Frequency Total (IF Total), covering own employees plus subcontractors, hired workers and third parties, externally for the first time in 2023 (2.6), expanding beyond the previously sole-reported IF BAM metric.

sustainability_report p.26

BAM launched 'GROENR BETON', a more sustainable concrete offering that reduces CO2 emissions by 15-20% versus traditional mixtures while maintaining comparable properties. BAM also improved the completeness and accuracy of its spend-based scope 3 measurement for purchased goods and services (its largest scope 3 category at 1,416 kt CO2e), aiming to progressively replace spend-based data with activity data.

sustainability_report p.34

BAM's renewable electricity share increased to 69% in 2023 from 65% in 2022, driven by rising renewable procurement in the UK, partly offset by grey energy use on the Fehmarnbelt project and growth in electric vehicles in the Netherlands (currently assumed to charge on average national grid mix). BAM's roadmap target is to work towards procurement of 100% renewable electricity across all offices and project sites, with initiatives underway to gain insight into the renewable share of public and home EV charging.

sustainability_report p.33

BAM plans to expand the IF scope in 2023 to subcontractors and hired workers (IF Total), improving safety data completeness. Mandatory accident-rate reporting for all workers on BAM sites is also required under CSRD from FY2024.

sustainability_report p.35

Emissions from BAM's vehicle fleet account for 40% of total scope 1 and 2 CO2 emissions and decreased 11% in 2023. The number of fully electric lease vehicles more than doubled to 2,295 (47% of the lease fleet); BAM's lease policy now mandates that all newly ordered cars are electric in both divisions, though full fleet electrification and van electrification will take several more years due to lease terms and limited EV availability for vans.

sustainability_report p.33

BAM's use-of-sold-products category (924 kt CO2e, 35% of scope 1-3) is driven by the energy performance of delivered buildings. BAM improved insight into the energy use of delivered assets in 2023 using energy labels and design specifics, extending the assessment to non-residential and civil projects previously excluded, and continues delivering energy-efficient and near-zero-energy new homes and renovation projects to reduce downstream emissions.

sustainability_report p.34

BAM set a Return on Inclusion (D&I audit) target score of 71 (Gold) or higher by 2030, with an interim target of 60 (Silver) by 2026; the 2023 baseline assessment scored 55.

sustainability_report p.109

As part of the sustainability strategy launched in Q1 2023, BAM set targets to reduce non-biobased virgin material use by 50% by 2030 (vs 2019), reduce construction and office waste intensity by 75% by 2030 (vs 2015), and have A/B/C and industrialised projects use material passports and circularity assessments by 2030.

sustainability_report p.98

BAM adjusted its 2023 IF BAM (incident frequency for own employees) metric from an originally reported 3.4 to a recalculated 2.8, to align the definition of 'own employees' with the consistent ESRS S1 definition (including office personnel).

sustainability_report p.73

BAM's original strategic safety target of incident frequency below 3.5 was redefined and tightened in the 2023 sustainability strategy to an incident frequency (IF BAM and IF Total) of ≤3.0.

sustainability_report p.26

BAM decided to start disclosing the results of its scope 3 assessment for the first time in this year's annual report, estimating scope 3 footprint at circa 2,552 kilotonnes across 9 material categories, following improved measurement of purchased goods/services and use of sold products.

sustainability_report p.92

BAM increased ambition of its SBTi-verified science-based targets as part of the new sustainability strategy launched early 2023: scope 1&2 CO2 intensity target raised to -80% by 2026 vs 2015 (from -50% by 2023, which was achieved at -56%), and new scope 3 absolute emissions target of -50% by 2030 vs 2019.

sustainability_report p.32

BAM set targets to reduce use of non-biobased primary (virgin) materials by 50% by 2030 vs 2019, achieve 75% reduction in construction and office waste intensity by 2030 vs 2015, and require material passports and circularity assessments on all A/B/C-classified and industrialised projects by 2030.

sustainability_report p.32

BAM was awarded a place on the CDP Climate 'A' List for the fifth consecutive year, recognising CO2 reduction efforts and transparent reporting. BAM was also included in the Financial Times' Europe's Climate Leaders list.

sustainability_report p.34

BAM UK & Ireland became a founding signatory of the Nature Positive Business Pledge in March 2023, a framework and commitment by businesses to progressively halt and reverse negative impacts on nature, supporting BAM's ambition of an aggregated net-positive biodiversity impact by 2030.

sustainability_report p.5

BAM recorded two work-related fatalities in 2022 (Viking windfarm project, Shetland; and a subcontracted diver on the Levvel/Afsluitdijk consortium project), highlighting continued safety risk despite improved incident frequency.

sustainability_report p.35

BAM raised its scope 3 absolute CO2 emissions reduction target from 20% to 50% by 2030 versus a 2019 baseline.

sustainability_report p.109

BAM sold BAM Galère (including BAM Lux and part of BAM Mat's assets) to Thomas & Piron Group, completed 3 February 2022.

sustainability_report p.13

BAM aligned its sustainability strategy with eight UN Sustainable Development Goals: SDG 7, 8, 9, 10, 11, 12, 13 and 15.

sustainability_report p.14

BAM's share of emissions related to projects in Denmark was omitted from 2022 reported data; CO2 emissions for 2022 have been restated, adding 2.0 kilotonnes to scope 1 and 2 emissions and 0.3 to CO2 intensity.

sustainability_report p.91

BAM's share of waste related to projects in Denmark and non-contracted waste processors in the Netherlands was omitted from 2022 data; construction waste for 2022 has been restated, adding 2.8 kilotonnes, with a 0.4 impact on 2022 waste intensity.

sustainability_report p.97

BAM completed the sale of Wayss & Freytag Ingenieurbau AG (Germany, Sept 2022), BAM Galère srl (Belgium, Feb 2022) and BAM Contractors nv (Belgium, May 2022). Management explicitly attributes part of the 2023 CO2 intensity reduction to divestment of carbon-intensive business units, alongside CO2 reduction initiatives.

sustainability_report p.32

In October 2022 the Dutch Fiscal Information and Investigation Service (FIOD) and Dutch Public Prosecutions Office informed BAM International it is subject of an investigation into suspicions of fraud and corruption at some completed projects; the investigation remained ongoing throughout 2023 with uncertain timing and potential financial impact.

sustainability_report p.164

BAM increased the ambition level of its CO2 reduction targets, moving the 50% relative reduction in scope 1 and 2 CO2 intensity (vs 2015) forward from a 2030 target to 2023, and added an 80% reduction target by 2026.

sustainability_report p.109

BAM completed the sale of its German subsidiary Wayss & Freytag Ingenieurbau AG to Zech Building SE on 15 September 2022, resulting in a book profit of approximately €52 million and de-risking the portfolio.

sustainability_report p.13

BAM sold BAM Contractors nv to Belgian construction company Stadsbader Group, completed 5 May 2022.

sustainability_report p.13

Effective 1 January 2022, BAM replaced its former Construction & Property / Civil Engineering business-line structure with two geographic divisions: Netherlands and United Kingdom & Ireland, changing segment reporting.

sustainability_report p.129

BAM was included in CDP's Climate Change 'A' list for the fourth consecutive year in 2022.

sustainability_report p.7

BAM set an ambition to achieve an aggregated net-positive biodiversity impact by 2030, including offering biodiversity-positive alternatives in tenders and evidencing biodiversity balance on UK&I projects by 2026.

sustainability_report p.48

BAM is transitioning its car and light-vehicle fleet to fully electric vehicles; the number of fully electric vehicles increased to 992 in 2022 (19% of the total lease fleet), and since January 2022 all newly ordered cars in the Netherlands lease arrangement are electric.

sustainability_report p.46

The Dutch Fiscal Information and Investigation Service (FIOD) and Public Prosecutions Office informed BAM International it is subject to an investigation into suspected fraud and corruption at some completed projects. Timing and outcome are uncertain and could have a material financial impact.

sustainability_report p.30

BAM is reducing the use of virgin, carbon-intensive materials such as cement, steel, asphalt and concrete, for example using ultra-low carbon concrete (Dawlish sea wall) and a low-cement bridge design achieving a 25 per cent CO2 reduction. The Group targets a 50 per cent reduction in non-biobased virgin material use by 2030 versus 2019 and is developing material passports and circularity assessments.

sustainability_report p.47

BAM is working towards procurement of 100 per cent renewable electricity across all its offices, facilities and project sites. In 2022 the Group's green electricity share increased to 65 per cent (2021: 60 per cent), driven partly by the divestment of BAM Deutschland (which had few renewable contracts) and increased renewable electricity use in the UK and Ireland. The report does not describe specific instruments such as PPAs; renewable electricity is sourced through green electricity contracts.

sustainability_report p.45

BAM has committed to FSC Netherlands to exclusively use certified sustainable timber, achieving 99 per cent certified sustainable timber use across its Netherlands and UK&I divisions in 2022 (89 per cent organisational coverage), supporting forest conservation and reducing embodied carbon in the supply chain.

sustainability_report p.48

BAM is reducing diesel use on construction sites by establishing early-stage grid connections, electrifying plant and equipment, and substituting diesel with sustainably produced hydrotreated vegetable oil (HVO). HVO use more than doubled in 2022 to over three million litres, saving circa eight kilotonnes of CO2; BAM introduced its first electric asphalt spreader, an electric 'krol' crane, an electric foundation drill rig and electric mobile excavators.

sustainability_report p.45

Because scope 3 emissions far outweigh BAM's scope 1 and 2 footprint, BAM is collaborating with clients and supply-chain partners to reduce carbon in the value chain, for example through 3D-printed concrete components that cut concrete volumes by 50 per cent (Sighthill Bridge) and zero-energy 'NOM' housing (over 2,000 dwellings delivered since 2014). BAM targets a 50 per cent absolute reduction in scope 3 emissions by 2030 versus 2019.

sustainability_report p.46

A growing share of BAM's business depends on client specification of sustainable buildings; in 2021, 25 per cent of revenue (approx. €1.8 billion) came from projects registered with third-party green-building rating schemes such as LEED, BREEAM and Passivhaus, up from €1.3 billion in 2020.

sustainability_report p.45

BAM replaced its Construction and Property / Civil Engineering business-line structure with two new divisions (Netherlands; United Kingdom and Ireland) for growth markets, while Germany and Belgium are managed for value.

sustainability_report p.9

BAM announced it will release new, broader sustainability targets in Q2 2022, and is exploring accelerating its Science Based CO2 reduction target from 2030 to 2023.

sustainability_report p.45

BAM identifies 'purchased goods and services' and 'use of sold products' as the largest contributors to its Scope 3 footprint and engages suppliers to explore reduction measures in these categories; full Scope 3 performance against its SBTi target is disclosed via BAM's annual CDP submission.

sustainability_report p.42

BAM launched a new three-year strategic plan focused on profitability, de-risking, and sustainability, including a strengthened sustainability agenda with decarbonisation, circularity, digitalisation, and safety targets.

sustainability_report p.11

BAM has a Science Based Target verified by SBTi, targeting a 50% reduction in scope 1&2 CO2 intensity by 2030 (vs 2015) and 20% reduction in scope 3 emissions (vs 2017), aligned with a long-term climate-positive ambition.

sustainability_report p.40

BAM sold BAM Swiss AG (subsidiary of BAM Deutschland AG, ~€45m revenue, 45 employees) to Implenia AG, transaction closed May 2021.

sustainability_report p.13

BAM sold its German operating company BAM Deutschland AG (~€500m annual revenue, 750 employees) to Zech Group SE and Gustav Zech Foundation, completed mid-October 2021, as part of the 'manage for value' de-risking strategy.

sustainability_report p.13

BAM targets 100 per cent recycling/reuse of construction and office waste by 2025 (77 per cent achieved in 2021) and is scaling use of secondary materials, including a pilot asphalt mix with 60 per cent recycled PA-Stone content and steel with 68 per cent recycled content.

sustainability_report p.42

BAM agreed to sell BAM Galère (~€200m revenue, 650 employees) to Thomas & Piron Group (completed 3 Feb 2022) and announced the divestment of BAM Contractors bv in Belgium (15 Feb 2022), exiting the Belgian civil engineering market.

sustainability_report p.13

BAM's key figures now include only scope 1 and 2 CO2 emissions, excluding CO2 emissions related to employee travel, which are now reported under scope 3 emissions. 2021 figures were restated accordingly.

sustainability_report p.4

BAM restated the values of 1,050,000 tonnes and 46 per cent asphalt consumption/recycled content disclosed in its 2021 annual report, since BAM's share of asphalt production was reported instead of the actual share applied in BAM's projects.

sustainability_report p.48

BAM has set the ambition to completely recycle or re-use its construction and office waste by 2025; 77% was achieved in 2021 (76% in 2020).

sustainability_report p.40

BAM's asphalt plants were deconsolidated following formation of new JV companies (AsfaltNu) for asphalt production in the Netherlands and Belgium. CO2 emissions from asphalt plants moved from scope 1/2 to scope 3, and BAM restated its 2015 baseline (230→203 kt) and 2020 figures (136→114 kt) to allow 'fair comparison'.

sustainability_report p.40

BAM assessed its priority themes against the UN Sustainable Development Goals and identified 8 goals to which it contributes most: SDG 7 (clean energy), 8 (decent work), 9 (industry/infrastructure), 10 (reduced inequality), 11 (sustainable cities), 12 (responsible consumption), 13 (climate action), 15 (life on land).

sustainability_report p.15

BAM sold its German business BAM Deutschland AG and its direct holder to Zech Group SE and Gustav Zech Foundation, completed 15 October 2021.

sustainability_report p.162

The Supervisory Board established a new permanent Health, Safety and Sustainability Committee in 2021 to increase oversight of safety and sustainability performance, policies and strategy.

sustainability_report p.71

BAM introduced a more stringent Group-wide Alcohol and Drugs Policy in March 2021, prohibiting employees, subcontractors and others from working under the influence, with disciplinary measures for violations.

sustainability_report p.33

BAM's decarbonisation approach includes procuring 100 per cent renewable electricity in all offices, facilities and project sites. In 2021 the green electricity share was 60 per cent (2020: 63 per cent); the decrease reflects deconsolidation of the fully renewable-powered Dutch asphalt plants, and the share is expected to rise again as German and Belgian operations (which use more non-green electricity) are divested.

sustainability_report p.41

BAM was included in CDP's Climate Change A List for the third consecutive year, recognising its carbon reduction actions, transparent reporting, and climate risk/opportunity assessment.

sustainability_report p.40

BAM's vehicle fleet accounts for around 35 per cent of the Group's total CO2 emissions. BAM increased fully electric vehicles in its lease fleet from 269 (Dec 2020) to 354 (Dec 2021), a 7 per cent share of the total lease fleet, and continues optimising travel distances and deploying more energy-efficient vehicles.

sustainability_report p.41

BAM reduces diesel use on project sites by establishing early-stage grid connections, electrifying equipment, and switching to alternative fuels. More than one million litres of Hydrotreated Vegetable Oil (HVO) were used in 2021 versus over 17 million litres of diesel, and BAM Infra Nederland introduced a hybrid CPT truck, hybrid asphalt spreader, and an electric road roller.

sustainability_report p.41

BAM has committed to FSC Netherlands to exclusively use certified sustainable timber for its projects, engaging suppliers to improve identification and reporting of certified timber; coverage reached 81% of operations (by revenue) with 99% of covered timber certified sustainable in 2020.

sustainability_report p.41

BAM's CO2 reduction strategy includes reducing energy consumption by digitalising business operations and improving overall operational efficiency, alongside its digital construction agenda.

sustainability_report p.37

BAM's inclusion in CDP's Climate A List (announced January 2021, based on 2020 disclosure) recognised the Company's efforts to reduce carbon emissions and assess climate change risk in its business strategy.

sustainability_report p.7

BAM's new strategic plan 'Building a sustainable tomorrow' (2021-2023) sets mid-term financial targets: Adjusted EBITDA margin to approx. 5%, revenue to decrease to approx. €5.5 billion, ROCE >10%, trade working capital efficiency <-10%, capital ratio growing to 20%, and dividend pay-out of 30-50% of net result.

sustainability_report p.12

BAM's CO2 reduction strategy includes working towards procurement of 100 per cent renewable electricity across all offices, facilities and project sites. In 2020, the share of green electricity used increased to 63 per cent, up from 53 per cent in 2019, contributing materially to the Group's CO2 footprint reduction. No specific PPA, REC or on-site generation details are disclosed; the approach is framed as an ongoing operational priority within the broader 'climate positive' strategy.

sustainability_report p.38

BAM has identified seven UN Sustainable Development Goals that fit its strategy and impact best: SDG 3 (Good health and well-being), SDG 4 (Quality education), SDG 8 (Decent work and economic growth), SDG 9 (Industry, innovation and infrastructure), SDG 11 (Sustainable cities and communities), SDG 12 (Responsible production and consumption) and SDG 13 (Climate action). BAM does not currently monitor quantitative impact against these SDGs.

sustainability_report p.15

Construction sites are BAM's largest source of carbon emissions. Key reduction measures include improving energy efficiency at project sites and asphalt plants, reducing reliance on diesel and gasoil, and establishing early-stage grid connections on projects to reduce use of diesel generators.

sustainability_report p.37

BAM's vehicle fleet accounts for approximately 30-31 per cent of the Group's direct CO2 emissions. In line with its science-based target, BAM aims to increase the share of electric vehicles in its lease fleet; the number of fully electric vehicles almost doubled from 143 (December 2019) to 269 (December 2020), representing about 5 per cent of the total lease fleet.

sustainability_report p.33

BAM produces low-energy asphalt concrete (LEAB) at its Dutch asphalt plants, reducing CO2 emissions and environmental cost versus conventional asphalt (certified by CROW in 2020). In 2020, BAM applied 56,706 tonnes of LEAB (5% of total Dutch asphalt production, up from 32,500 tonnes/3% in 2019), with over 680,000 tonnes applied cumulatively; the method is being extended to the UK following a successful trial with Highways England.

sustainability_report p.41

BAM discloses Scope 3 value-chain emissions annually via its CDP submission, noting that 'purchased goods and services' and 'use of sold products' contribute most to its Scope 3 footprint. The Group engages with suppliers to explore reduction measures focused on these categories and requires suppliers/subcontractors to comply with general purchasing conditions covering safety, human rights and environmental commitments.

sustainability_report p.39

BAM transferred 50% of the shares of BAM PPP to PGGM, forming a 50:50 joint venture; BAM PPP was reclassified as a discontinued operation with a €118 million gain recognised on the transaction in 2020.

sustainability_report p.9

BAM announced a major restructuring programme to mitigate lower revenue caused by Covid-19 and more selective tendering, targeting cost savings of at least €100 million annually, mostly from headcount reductions (approx. 1,000 FTEs).

sustainability_report p.19

In July 2020 BAM decided to wind down operating company BAM International, active outside BAM's European home markets, due to continued losses, deteriorating oil & gas market conditions and unbalanced risk/reward on projects. This reduces the Group's international operational footprint and future emissions/revenue base.

sustainability_report p.7

BAM transferred 50 per cent of the shares of its wholly-owned subsidiary BAM PPP to PGGM Infrastructure Fund, resulting in loss of control and deconsolidation; BAM PPP results are now reported as discontinued operations and the retained 50% interest is accounted for as a joint venture at fair value (€117m).

sustainability_report p.20

BAM obtained leadership status (score A-) on the CDP forest/timber benchmark, recognised for its strategy of using only certified sustainable timber, transparent reporting, and progress toward its sustainable timber target.

sustainability_report p.41

BAM has a longer-term science-based target for 2030: reduce Scope 1 and Scope 2 CO2 intensity by 50% compared to 2015, and reduce Scope 3 CO2 emissions by 20% compared to 2017 (first full Scope 3 assessment year), superseding the shorter-term 2016-2020 target of 25% reduction.

sustainability_report p.37

BAM initiated a major restructuring programme in September 2020 to create a sustainable, profitable business; the €120 million savings target was reached by April 2021.

sustainability_report p.33

BAM has set an objective to completely recycle or re-use its construction and office waste by 2025; in 2020, 76% was recycled or re-used (2019: 75%), with 15 kilotonnes landfilled or incinerated without energy recovery.

sustainability_report p.36

BAM's strategic agenda target to deliver at least one circular project/product/service per operating company by 2020; the Group delivered 16 circular projects in 2020 (2019: 14), including two new circular projects in Construction and Property in the Netherlands and UK.

sustainability_report p.36

BAM estimates that Covid-19 impacts (site closures, reduced travel, working from home) accounted for approximately 60% of the Group's CO2 footprint reduction in 2020. Without Covid-19 impacts, CO2 intensity is estimated to have been ~22.0 tonnes/€m revenue versus the actual 20.0, still meeting the 2020 target of a 25% reduction versus 2015.

sustainability_report p.37