Veidekke rated A by CDP for third consecutive year
Veidekke has once again received the top rating A for its reporting on greenhouse gas emissions and climate risk. The construction group sees the recognition from CDP as inspiration to sharpen its efforts.
“For the third consecutive year, Veidekke has been awarded CDP’s top rating, confirming that we are on a steady course towards reducing our greenhouse gas emissions and climate risk. Since agreeing to the Paris Agreement's climate goals five years ago, we have worked to reduce emissions from our operations. From 2021 onwards, we confirm our commitment by setting a carbon budget, which will be reviewed in line with financial targets and HSE targets,” says Lars Erik Lund, EVP Strategy and Sustainability at Veidekke.
Construction accounts for 40% of global greenhouse gas emissions. In 2017 Veidekke set targets, based on the Paris Agreement, to reduce greenhouse gas emissions from its own operations by 50% by 2030 and 90% by 2050.
“By reducing the climate footprint from the houses we build or the asphalt we lay, we contribute to attaining Veidekke's own goals. But 2020 has shown us that to overcome great global challenges, we need to go beyond putting our own house in order. We need the entire construction industry to stand behind global climate targets, learn from each other, and constantly push for improvement. When that is what we do, we can enkindle significant impacts that reach far beyond our scopes as individual companies,” says Lars Erik Lund.
Veidekke is working to cut emissions from asphalt production through such measures as renewable energy carriers in asphalt production, transition to low-temperature asphalt, increased reuse in asphalt production and electrification of aggregates production lines. In construction, the company focuses on increasing the share of green construction projects, using more sustainable materials, increased recycling, and transition to electric machinery and vehicles.
CDP Climate Change (formerly the Climate Disclosure Project) is an international NGO that supports companies and authorities in measuring and managing risks related to climate change, water resources and deforestation. More than 9,600 companies representing over 50% of global market capitalisation disclosed environmental data through CDP in 2020. To achieve A rating, companies are expected to meet increasingly stringent requirements with regard to e.g. comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership. The 2020 A-list comprises 270 companies, of which nine are Norwegian companies.
The CDP A-list: https://www.cdp.net/en/companies/companies-scores.
For more information, contact:
Lars Erik Lund, EVP Strategy and Sustainability Veidekke ASA, +47 413 31 369
Catharina Bjerke, Director Sustainability Veidekke ASA, +47 400 11 410
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Veidekke is one of Scandinavia's largest contractors. In addition to undertaking all types of building and civil engineering assignments, the group also maintains roads and produces asphalt and aggregates. Veidekke emphasises stakeholder involvement and local experience. Its annual turnover is approximately NOK 37 billion, and half of its 8,200 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange, and has posted a profit every year since its inception in 1936.
