Climate Change Data

Veidekke ASA

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:958000 tCO2e/year (Scope 3)
Scope 1 Emissions:60149 tCO2e/year
Scope 2 Emissions:45951 tCO2e/year (market-based)
Scope 3 Emissions:958349 tCO2e/year
Renewable Energy Share:43%
Total Energy Consumption:434152 MWh/year
Carbon Intensity:0.00000143 tCO2e/NOK (Scope 1 & 2 combined)

ESG Focus Areas

  • Climate Change
  • Forests
  • Biodiversity

Environmental Achievements

  • Reduced Scope 1 and 2 emissions by 5.6% due to increased biofuel use.
  • Increased renewable energy share to 43% in 2023.

Social Achievements

  • Established Veidekke Circular and Veidekke Green Incubator initiatives.
  • Maintained open dialogue with investors on climate risk and strategy.

Governance Achievements

  • Board-level oversight of environmental issues.
  • 11.6% of total C-suite and board-level monetary incentives linked to climate change management.

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2045
Medium-term Goals:
  • Achieve 25% EU taxonomy operating revenue alignment by 2030
  • Reduce greenhouse gas emissions by 50% by 2030
Short-term Goals:
  • Reduce water consumption by 10% by 2025
  • Achieve 100% certified timber in supply chain by 2025
  • Achieve 8% EU taxonomy operating revenue alignment by 2025

Environmental Challenges

  • Chronic physical climate risks (landslides, floods, storms) impacting asphalt and aggregate production.
  • Lack of comprehensive data from suppliers on timber sourcing.
  • Challenges in allocating emissions to different customers.
Mitigation Strategies
  • Improved monitoring of direct operations and relocation of production sites.
  • Increased traceability of commodities and engagement with suppliers.
  • Early project involvement for embodied carbon emission assessments.

Supply Chain Management

Responsible Procurement
  • Supplier code of conduct; requirements for FSC/PEFC certified timber; EPDs for all products.

Climate-Related Risks & Opportunities

Physical Risks
  • Landslides
  • Floods
  • Storms
Transition Risks
  • Increased carbon prices
  • Stricter environmental regulations
Opportunities
  • Increased demand for green buildings and renewable energy projects.

Reporting Standards

Frameworks Used: GRI, SBTi

Certifications: ISO 14001

Third-party Assurance: EY

UN Sustainable Development Goals

  • Goal 7
  • Goal 13
  • Goal 12
  • Goal 15

Initiatives contribute to renewable energy, climate action, responsible consumption and production, and life on land.

Sustainable Products & Innovation

  • Low-temperature asphalt; plant-based binding agent for asphalt; 3D concrete printing.

Awards & Recognition

  • Scandinavian environmental award (2021) for environmentally friendly asphalt.