Skanska — full event log
Every event we have on file across every reporting year. The Data-by-year tab summarises the top 10 per year; this page shows them all.
← back to Data by year2024· 28 events
In 2024, 99% (vs 93% in 2023) of electricity consumed came from renewable sources. Skanska is transitioning towards electrification of own production. 37% of total sales volume from quarry sites in Sweden produced with a partly electrified production line. Increased Group-wide use of renewable electricity has been a key factor in reducing scope 2 emissions. Renewable energy (excluding heating/cooling) reached 42% in 2024 vs 21% in 2020.
sustainability_report p.53
Diesel accounts for ~75% of Skanska's own fuel-related emissions (scope 1), used primarily for on-site machinery and electric generators. Key levers: efficiency improvements, increased electrification of production lines (quarries, asphalt plants), and increased use of biofuels. Fuel-derived renewables share increased from 15% (2020) to 26% (2024).
sustainability_report p.53
Use of sold products is the dominant single scope 3 category for the Project Development streams (380 ktCO2e in 2024, down from 890 ktCO2e in 2020). Calculated using 50-year expected lifetime for buildings and 100-year for infrastructure, recognized upon divestment. Office buildings divested by commercial development units delivered 25% expected energy reduction vs national NZEB market standards. 100% of divested office value was LEED Platinum/Gold, BREEAM Excellent or WELL certified.
sustainability_report p.52
Skanska promotes sustainable water usage by integrating water efficiency solutions: greywater systems, flow control taps, rainwater harvesting, smart irrigation. Specific demand seen in Central Europe due to increased drought frequency. Modřanský Cukrovar project will save residents ~50% drinking water (97,000 liters/day) via greywater + rainwater systems.
sustainability_report p.64
Annual expected energy reduction of 25% in divested office buildings developed by commercial development business units in Nordics, Europe and USA compared to market standards (NZEB/ASHRAE benchmarks). Use of sold products (scope 3 category 11) is the largest lifecycle emission category at 380,000 tCO2e in 2024. 100% of divested commercial offices in 2024 certified LEED Platinum/Gold, BREEAM Excellent, or WELL.
sustainability_report p.52
Purchased goods and services (scope 3 cat 1, limited to cement, concrete, steel, bitumen, asphalt) account for 775,000 tCO2e in 2024 — the largest scope 3 category by far. Materials represent ~54% of Skanska's average value-chain emissions footprint (2020-2024). Decarbonisation depends on supplier transition (low-carbon cement substitutes, recycled asphalt, green steel).
sustainability_report p.53
Skanska actively supports the UN Sustainable Development Goals, with the greatest impact on goal 11: Sustainable cities and communities. Identified sub-targets where business contributes: 5.1, 5.5, 8.4, 8.7, 8.8, 9.1, 9.4, 11.1, 11.2, 11.3, 11.6, 11.7, 12.2, 12.4, 12.5, 13.1, 16.5.
sustainability_report p.46
8% of Group revenue in 2024 came from renovation of existing buildings. Skanska sees a growing market segment driven by regulations targeting energy efficiency in properties. Building reuse and refurbishment optimizes resource use and avoids embodied carbon of new construction.
sustainability_report p.52
Skanska's climate transition plan focuses primarily on absolute emission reductions (design for efficiency, low-carbon materials, energy) rather than offsets or removals. The SBTi-approved targets cover scope 1, 2, and 3 reductions toward net-zero by 2045. The report does not mention purchase of durable removal credits (DAC, BECCS, biochar) nor offset retirements as part of the inventory. Carbon intensity in own operations (scope 1+2) reduced from 2.60 in 2015 to 0.88 tCO2e/SEK M revenue in 2024.
sustainability_report p.53
Skanska's near-term science-based emission reduction targets are approved by the Science Based Targets initiative. Net-zero carbon emissions in own operations and value chain by 2045. Interim targets: 70% reduction scope 1+2 by 2030 (vs 2015 baseline); 50% reduction scope 3 by 2030 in development streams (vs 2020 baseline).
sustainability_report p.50
Engaging in early phases of projects to reduce material use and emissions through smarter design. Project efficiency tools (Takta, Ditio) optimize planning, fuel and energy usage. Digital twins improve building performance. PlanIt AI tool used in USA for safety planning. EC3 carbon calculator integrated into commercial development for material selection.
sustainability_report p.51
Largest scope 3 category at 775 ktCO2e in 2024 (down from 987 ktCO2e in 2020). Limited to the five key construction inputs: cement, concrete, steel, bitumen, asphalt. Strategy includes EC3 (Embodied Carbon in Construction Calculator) used by 5,000 companies in 78 countries, supplier engagement, and shift to low-carbon variants. Skanska cofounded Building Transparency to provide EC3 to the US market.
sustainability_report p.51
Diesel accounts for ~75% of scope 1+2 emissions from fuel use, primarily for on-site machinery and electric generators. Key reduction levers are operational efficiency, increased electrification of plant and equipment, and increased use of biofuels. Renewable share of fuel rose to 26% in 2024 (15% in 2020). Energy intensity for fuels and electricity has reduced 38% from 2015 to 2024.
sustainability_report p.53
In Sweden, 32% (vs 16% in 2023) of own concrete production was low-carbon concrete with lower climate impact. Average reused asphalt content reached 26% (23%). Vällsta asphalt plant near Stockholm can reduce carbon emissions by up to 50% via recycled asphalt. Focus areas include cement-free concrete, biochar in concrete and future cement-replacing binders.
sustainability_report p.52
In November 2024, Skanska launched updated Code of Conduct and Supplier Code of Conduct. Continues to build on values, with mandatory training every two years (99% completion rate). 134 reports received via Code of Conduct Hotline in 2024 with breaches found in 13 cases.
sustainability_report p.63
Listed on FTSE4Good Sustainability Index and recognized by Financial Times as a Climate Leader in Europe for the third year in a row. Holds CDP Climate B rating and MSCI A.
sustainability_report p.43
Skanska identifies sub-targets where business contributes: 5.1, 5.5 (gender equality), 8.4, 8.7, 8.8 (decent work), 9.1, 9.4 (infrastructure), 11.1, 11.2, 11.3, 11.6, 11.7 (sustainable cities - most impact), 12.2, 12.4, 12.5 (responsible consumption), 13.1 (climate action), 16.5 (anti-corruption).
sustainability_report p.46
Skanska committed to reaching net-zero carbon emissions across scopes 1, 2 and 3 by 2045, with interim 2030 targets of -70% in own operations (vs 2015 baseline) and -50% in value chain emissions for Development streams (vs 2020 baseline). Targets approved by SBTi as on 1.5°C trajectory.
sustainability_report p.50
Ernst & Young AB provided limited assurance on Skanska's greenhouse gas emissions (Scope 1, 2, 3), health and safety, energy, and waste reporting for 2024.
sustainability_report p.22
Ernst & Young AB provides limited assurance on greenhouse gas (Scope 1, 2, 3), health and safety, energy, and waste reporting per ISAE 3000.
sustainability_report p.22
In November 2024 Skanska launched an updated Code of Conduct and an updated Supplier Code of Conduct. 97% completion rate for first-month Code of Conduct training; 99% completion rate for biennial refresher training. Skanska continues preparation for EU Corporate Sustainability Due Diligence Directive (CSDDD).
sustainability_report p.63
In 2024, 99% (vs 93% in 2023) of the electricity Skanska consumed came from renewable sources. The Group reports 42% of total energy (excluding heating/cooling) as renewable, up from 21% in 2020. Industrial solutions in Sweden are transitioning to electrified production lines for quarries and asphalt plants; 37% of quarry sales volume in 2024 came from partly electrified production. Increased renewable share has been the primary driver of scope 2 emissions reductions.
sustainability_report p.53
Skanska's net-zero pathway focuses on direct emission reductions rather than removals or offsets. The 2045 net-zero commitment relies on decarbonization across the value chain (design for efficiency, low-carbon materials, energy efficiency). The report does not disclose volumes of removals (DAC, BECCS, biochar) or offset retirements. Biogenic CO2 from biofuel combustion is tracked separately as 'Outside of scope' (55,000 tCO2e in 2024) and included in SBTi target.
sustainability_report p.50
Skanska conducted a Group-wide biodiversity assessment based on ENCORE, WWF and SBTN tools. In the UK, applying Biodiversity Net Gain (BNG) on projects since 2020; became a legal requirement in 2024 for most UK construction projects to achieve a 10% net gain. Skanska developed the CLIMB tool in partnership with other Swedish companies to assign values to nature and species. Participating in WBCSD's nature-positive workstream.
sustainability_report p.64
In Sweden, 32% of concrete production in 2024 was low-carbon concrete (vs 16% in 2023), substituting limestone cement. Focus on cement-free concrete, biochar in concrete, future cement-replacing binders. One asphalt plant in Vällsta designed for recycling asphalt — can reduce carbon emissions by up to 50%. Average reused asphalt in Sweden's mixes reached 26% (vs 23% in 2023).
sustainability_report p.52
During 2024, Investment Properties acquired Citygate in Gothenburg (SEK 2.5 billion, June 2024) and Oas in Malmö (total acquisitions SEK 3.0 billion). Both LEED Platinum certified. Portfolio now consists of 7 office properties totaling SEK 8.2 billion.
sustainability_report p.39
Listed on FTSE4Good Sustainability Index. Recognized by Financial Times as a Climate Leader in Europe for the third year in a row. CDP Climate rating B. MSCI rating A.
sustainability_report p.43
Skanska cofounded Building Transparency, owner of the Embodied Carbon in Construction Calculator (EC3) — a database-driven tool with ~150,000 EPDs used by 5,000 companies in 78 countries. Applied across US projects (e.g., Norton Rose Fulbright Tower, Houston — reduced embodied carbon in aluminum, roofing, carpeting, ceiling tiles). Digital twins used in commercial development. Project efficiency tools (Takta, Ditio) for monitoring fuel/energy/material usage. UK building-services business has a real-time data platform for tenant building management.
sustainability_report p.51
2023· 33 events
93 percent of electricity consumed comes from renewable sources, up from 87% in 2022. Key factors in fuel emission reduction include efficiency improvements, increased electrification and increased use of biofuels (renewable fuels share of fuel rose from 16% to 24% in 2023). 35% of Swedish quarry sites have replaced diesel with electricity in the production line. Hyllie Terrass sources 100% renewable electricity from E.ON supplemented by rooftop solar + battery. Powerhouse Lade in Norway uses heat pumps, thermal wells, solar and solar-hybrid panels to be energy-positive over the building lifetime.
sustainability_report p.49
Skanska's near-term science-based emission reduction targets are approved by SBTi. Targets: -70% scope 1+2 by 2030 (vs 2015), -50% scope 3 by 2030 (vs 2020), net-zero by 2045.
sustainability_report p.47
Starting 2023, a carbon emission reduction target is included in the Skanska Employee Ownership Program (Seop 6). For top 400 leaders, up to 15% of performance shares linked to climate target and 7% annual carbon emission reduction in scope 1 and 2.
sustainability_report p.41
Skanska's net-zero 2045 strategy focuses on direct emission reductions across own operations and value chain via low-carbon materials, electrification, renewable energy, circularity and refurbishment, rather than carbon credit offsets or durable removals. The Group does not disclose any carbon removal or offset volumes in 2023. NollCO2 certification (Sweden Green Building Council) requires that the climate impact of a building's entire life cycle be accounted for and balanced with production of renewable energy over the building's lifetime — Hyllie Terrass is aiming for this.
sustainability_report p.47
Purchased materials account for ~52% of value chain emissions (2020-2023 average). Skanska focuses on engaging suppliers for low-carbon concrete, mass timber substitution (Portland International Airport reduced embodied carbon by 3,900 tonnes by using mass timber vs steel), and concrete admixture innovations. At Hyllie Terrass, working with concrete provider UPB enabled low-carbon precast concrete façade saving ~3,000 tonnes CO2.
sustainability_report p.49
Skanska divested its 32% ownership of LaGuardia Terminal B in New York for USD 115 M (~SEK 1.2 billion) to existing partners MI LaGuardia CTB, LLC and Vantage Airport Group.
sustainability_report p.7
Benchmark changed from ASHRAE to NZEB for the KPI 'Energy reduction in new office buildings'.
sustainability_report p.78
16% (15) of Swedish concrete production in 2023 was low-carbon concrete. Internal expert forum scales solutions including cement-free concrete, biochar in concrete and cement-replacing binders. New Vällsta asphalt plant outside Stockholm, operational from 2023, can produce 100% recycled asphalt and cuts CO2 per tonne of asphalt by up to 50% vs similar plants. Average reused asphalt content in new mixes was 23% (Sweden).
sustainability_report p.52
Reports alignment with SDGs 5 (Gender Equality), 8 (Decent Work), 9 (Industry/Infrastructure), 11 (Sustainable Cities — primary focus), 12 (Responsible Consumption), 13 (Climate Action), 16 (Peace and Justice).
sustainability_report p.44
Increased use of electric machinery and biofuels is a key driver of scope 1+2 reductions, contributing to 60% reduction vs 2015. Recent trials of electric excavators in the USA followed successful use in the Nordics. In Stockholm's Slakthusområdet (largest fossil-free project in Nordics), 10% of on-site machines are electric and remainder runs on HVO renewable fuel.
sustainability_report p.50
Skanska's net-zero by 2045 pathway is built on absolute emissions reductions across scope 1, 2 and 3 rather than offsets or removals. The company experiments with biochar in concrete as a partial decarbonization lever and uses biochar in rainwater management features (Hyllie Terrass). At Portland International Airport, mass timber substituted steel and reduced embodied carbon by 3,900 metric tons. Skanska does not disclose a removal credits programme and does not retire offsets at material scale.
sustainability_report p.50
Fuels (mostly diesel for on-site machinery and generators) account for ~90% of own emissions. Key reduction lever is increased electrification (e.g., electric excavators trialed in USA after Nordic success; 35% of Swedish quarry sites use electricity instead of diesel in production line) and switching to biofuels including HVO renewable fuel. Carbon intensity (scope 1+2) improved to 1.03 from 2.60 tonnes/SEK M since 2015.
sustainability_report p.49
Concrete, cement, bitumen, asphalt and steel are the main contributors to scope 3 emissions. 16% of Swedish concrete production in 2023 was low-carbon concrete. The Vällsta asphalt plant (one of the most modern in the world) can produce 100% recycled asphalt and reduces CO2/tonne by up to 50%. Average reused asphalt in Sweden reached 23%. Internal expert forum shares knowledge on cement-free concrete, biochar concrete, and binder replacements.
sustainability_report p.52
For developed properties, lifetime energy use over 50 years (buildings) or 100 years (infrastructure) is the dominant scope 3 category 11 driver. Strategy includes energy-positive Powerhouse buildings, NollCO2 certification (Hyllie Terrass), LEED Platinum across Investment Properties portfolio, and a 27% energy reduction vs NZEB thresholds in newly divested offices. 100% of divested commercial offices in 2023 (SEK 3.5 bn value) certified with LEED Platinum/Gold, BREEAM Excellent or WELL.
sustainability_report p.51
In 2023, Skanska conducted a biodiversity assessment of operations and value chain using ENCORE tool, complemented by WWF Biodiversity Risk Filter and SBTN Sectoral Materiality Tool. Co-developed CLIMB tool with Swedish industry partners. Applies biodiversity net gain methodology in UK.
sustainability_report p.56
Self-generated waste to landfill reduced to 5.4% (target <5%); 79% recycled, 3% prepared for reuse. Material reuse examples include the Merkuria project in Prague (14,000 tonnes recovered, 80% target reuse/recycle), 100,000 m³ excavated soil reused at the Ängelholm-Helsingborg railway project for butterfly habitats, and on-site stone crushing/reuse at Slussen and Slakthusområdet projects.
sustainability_report p.52
Issued SEK 4.6 billion in green bonds with maturities of 2, 3 and 5 years. Updated Green Bond Framework to include EU taxonomy criteria; rated Medium Green by S&P Global Ratings.
sustainability_report p.20
Use of sold products is the largest dependent scope 3 category, accounting for ~36% of value chain emissions on average 2020-2023. Skanska designs buildings with energy performance well below NZEB thresholds; divested offices delivered 27% annual expected energy reduction vs benchmark in 2023. 100% of divested commercial properties in 2023 (SEK 3.5 bn value) were certified LEED Platinum/Gold, BREEAM Excellent or WELL. Lifetime energy use is calculated over 50 years for buildings and 100 years for infrastructure.
sustainability_report p.51
10% of revenue for building projects comes from renovation. Internal Swedish circularity council launched in 2023 covering circular materials, design, use and waste. In Prague, Merkuria redevelopment recovered ~14,000 tonnes of materials with 80% target for reuse/recycle. In Oslo, established a reuse center for excavated stone masses. Skanska is contributing to WBCSD Built Environment Pathway circularity protocol.
sustainability_report p.51
Nearly 500 supplier audits annually by Skanska staff and independent third parties. Supplier Code of Conduct flowed through all tiers. 2023 special assessment for aluminum and steel commodities to map supply chain risks. Working on alignment with EU Corporate Sustainability Due Diligence Directive.
sustainability_report p.64
In 2023 Skanska conducted Group-wide biodiversity assessment of operations and value chain, based on tools from ENCORE, WWF and the Science Based Targets Network. UK projects required to achieve 10% Biodiversity Net Gain as of 2024. Skanska contributes to TNFD and CSRD nature-related disclosure development through WBCSD.
sustainability_report p.64
Skanska's near-term science-based emission reduction targets have been approved by SBTi. Group targets: net-zero emissions by 2045; -70% scope 1+2 by 2030 vs 2015 baseline; -50% scope 3 by 2030 vs 2020 baseline for Development streams
sustainability_report p.47
For 2023, a carbon emission reduction target is included in the Skanska Employee Ownership Program (Seop 6). For top 400 leaders, up to 15% of performance shares is linked to the Group's climate target and a 7% annual carbon emission reduction in scope 1 and 2.
sustainability_report p.41
Skanska recognised in CDP A-list for leadership in transparent climate reporting. Also named 'Climate Leader in Europe' by Financial Times for second consecutive year.
sustainability_report p.41
Divested ownership (32%) of LaGuardia Terminal B in New York for USD 115 M (about SEK 1.2 billion). The buyers are existing partners MI LaGuardia CTB, LLC and Vantage Airport Group.
sustainability_report p.7
In 2023, Skanska updated its Green Bond Framework to include EU taxonomy criteria and issued new green bonds worth SEK 4.6 billion to finance sustainable commercial real estate projects. S&P Global Ratings provided a second opinion with Medium Green shading.
sustainability_report p.20
Skanska supports the UN Sustainable Development Goals with focus on seven relevant SDGs: 5 (Gender Equality), 8 (Decent Work and Economic Growth), 9 (Industry, Innovation and Infrastructure), 11 (Sustainable Cities and Communities - main focus), 12 (Responsible Consumption and Production), 13 (Climate Action), 16 (Peace, Justice and Strong Institutions). Signatory to UN Global Compact since 2001.
sustainability_report p.44
In 2023, Skanska conducted a biodiversity assessment of operations and value chain using ENCORE tool, WWF Biodiversity Risk Filter and SBTN Sectoral Materiality Tool. Co-developed the CLIMB tool with Swedish industry partners to measure biodiversity impact - named Sustainability Performance of the Year 2023 by NMC.
sustainability_report p.56
Scope 2 Location-based emissions for 2022 has been adjusted due to updated emission factors. Scope 3 Use of Sold Products emissions for 2022 has also been adjusted due to updated emission factors.
sustainability_report p.78
Starting 2023, all residential rental projects are reported in the Commercial Property Development stream. Comparable figures for 2021-2022 have been restated to reflect this reallocation.
sustainability_report p.29
As a result of a review of the consolidated cash flow statements, changes have been made to the presentation and classification of items from the fourth quarter of 2023. Interest and dividends received now reported under investing activities; interest paid (including capitalized) under financing activities; all taxes paid under operating activities only. Comparative periods restated.
sustainability_report p.110
Skanska sources 93% (up from 87% in 2022) of its electricity from renewables. Strategy includes power purchase agreements (e.g., E.ON 100% renewable energy contract for Hyllie Terrass), on-site solar PV combined with battery storage, and the Powerhouse concept of energy-positive buildings (which produce more energy than they consume over a 60-year lifetime). 38% of total energy (excluding heating/cooling) is renewable. Increased use of biofuels (HVO) and electric machinery on construction sites is key to scope 1 reductions.
sustainability_report p.49
10% of construction revenue comes from building renovation projects. Skanska Norway has an expert team for renovation of office buildings, including the Norwegian Parliament in Oslo. Using existing buildings longer optimizes resource use and avoids embodied carbon of new construction.
sustainability_report p.51
2022· 36 events
Skanska reduced operational energy intensity 36% between 2015 and 2022 (6.33 MWh/SEK M vs 9.94 MWh/SEK M). New office buildings divested in 2022 use 39% less energy than the LEED baseline. 100% of office divestments (SEK 8.3bn) were LEED Platinum/Gold, BREEAM Excellent or WELL-certified. Tools include digital twin (Intellekt in UK delivering 35% energy reduction in one project).
sustainability_report p.78
Skanska is deploying electric heavy machinery on fossil fuel-free building sites in Sweden and Norway, with Norway most advanced — 17 electric excavators plus other electrical machinery in use. Quarries in Sweden replaced diesel with electricity for the production line at 30% of sites in 2022 (collaboration with Volvo).
sustainability_report p.79
Concrete has among the highest embodied carbon. Skanska Betong launched a collection of low-carbon concrete mixes in 2019 that replace cement with slag or fly ash, reducing climate impact by up to 50%. 15% of concrete produced by Skanska Betong in 2022 was low-carbon (up from 5% in 2021). 41% of this was used within Skanska in Sweden.
sustainability_report p.80
Skanska in the UK started applying the biodiversity net gain (BNG) approach to civil works projects starting in 2020. BNG will be mandatory in UK legislation from November 2023. Examples include Mindenhurst army base redevelopment improving non-linear habitats by 3%, linear by 6%, river by 19%.
sustainability_report p.91
External auditors EY performed limited assurance on Skanska AB's greenhouse gases, health and safety, energy and waste reporting for 2022.
sustainability_report p.214
Fuel usage (mainly diesel in on-site machinery and electric generators) accounts for ~90% of Skanska's own emissions. Norway runs 17 electric excavators plus other electric machinery on fossil-fuel-free building sites. In Sweden, 30% of quarry sites have replaced diesel with electricity on the production line (partnership with Volvo). Construction projects such as Gottorps Hage in Sweden fueled all on-site equipment with HVO100 renewable diesel. Business units set fuel/vehicle targets in their climate plans.
sustainability_report p.79
Investment Properties business stream launched in 2022 with aim of building portfolio of high-quality Swedish office properties valued at SEK 12-18 billion. Portfolio at year-end 2023 totaled SEK 5.1 billion across 5 properties.
sustainability_report p.37
Skanska introduces a new business stream within the Group, Investment Properties, starting 2022. This will build a portfolio of Swedish office properties to generate rental income and stable cash flows. Includes revised financial targets including new ROCE ≥6% target for Investment Properties.
sustainability_report p.13
Skanska supports the UN SDGs and lists subtargets for seven relevant SDGs: 5 (Gender equality), 8 (Decent work), 9 (Industry, innovation, infrastructure), 11 (Sustainable cities — primary focus), 12 (Responsible consumption), 13 (Climate action), 16 (Peace, justice, strong institutions).
sustainability_report p.72
Scope 2 Location-based emissions for 2022 and Scope 3 Use of Sold Products emissions for 2022 adjusted due to updated emission factors.
sustainability_report p.78
In 2022, Skanska launched a new fourth business stream, Investment Properties, to build a portfolio of high-quality sustainable office buildings in Sweden (targeting SEK 12-18bn total value). During the year acquired three properties (Epic, Aqua in Malmö, Sthlm 01) totalling SEK 3.7bn from Commercial Property Development.
sustainability_report p.34
Use of sold products is 46% of Skanska's scope 3, calculated assuming a 50-year lifetime for buildings (100 years for infrastructure). Skanska tackles this through energy-efficient design, smart energy solutions, digital twins (Intellekt), Powerhouse plus-energy buildings, and certifications (LEED Platinum/Gold, BREEAM Excellent, WELL, NollCO₂, Nordic Swan Ecolabel). 100% of 2022 commercial development office divestments were certified, with energy use 39% below LEED baseline.
sustainability_report p.75
In 2022 Skanska introduced a new sustainability reporting system that enables more granularity when collecting data for sustainability reporting. Scope 3 limited to cement/concrete/steel/bitumen/asphalt (cat 1) and air travel only (cat 6).
sustainability_report p.76
AGM 2022 decided to include a carbon emissions reduction target in the Skanska Employee Ownership Program (Seop). For the top 400 leaders, up to 15 percent of performance shares in Seop will be linked to achieving a 7% annual carbon emission reduction at Group level. Embeds climate goals in executive compensation.
sustainability_report p.69
Skanska's net-zero by 2045 target is approved as a science-based target on the 1.5°C alignment pathway. The strategy explicitly focuses on absolute reductions through the ACT on Climate plan (Awareness, Customer success, Transformation) rather than offsetting. Skanska does not disclose use of carbon credits or removals — emphasis is on low-carbon materials (concrete with up to 50% lower climate impact), circularity, renewable energy, electrification of machinery, and energy-efficient design.
sustainability_report p.77
Launched the Investment Properties business stream in 2022 with aim of building portfolio of high-quality Swedish office properties to SEK 12-18 billion. As of 2024, portfolio is 7 properties valued at SEK 8.2 billion.
sustainability_report p.40
Skanska scored A- on the CDP Climate rating in 2022, demonstrating leadership disclosure on climate.
sustainability_report p.69
Skanska is introducing a new business stream, Investment Properties, in 2022 to build a portfolio of Swedish office properties for rental income and value appreciation. New financial target: Return on capital employed ≥6%. Group adjusted net debt limit revised to SEK -10 bn (previously SEK -9 bn).
sustainability_report p.7
Purchased goods (limited to cement, concrete, steel, bitumen, asphalt) account for 864,000 tCO2e in 2022 — 51% of scope 3. Skanska Betong's low-carbon concrete mixes (slag/fly ash replacing cement) cut climate impact by up to 50%; low-carbon concrete reached 15% of production in 2022 (vs 5% in 2021). 23% reused asphalt in new mixes in Sweden. The EC3 tool was used at the 1550 on the Green project in Houston to cut embodied carbon ~34%. Mass timber roofs (e.g. Portland International Airport) cut emissions 6% vs steel.
sustainability_report p.80
AGM 2022 resolved to include an emission reduction target in own operations (scope 1 and scope 2) in Seop 6 long-term share saving program. Up to 15% of performance shares for top 400 leaders linked to annual 7% carbon emission reduction target.
sustainability_report p.12
100% of the total SEK 8.3bn of office divestments in Commercial Property Development in 2022 were certified to LEED Platinum or Gold, BREEAM Excellent or WELL. Energy use 39% below LEED baseline.
sustainability_report p.78
AGM 2022 resolved to include an emission reduction target in Skanska's own operations (Scope 1 and Scope 2) in the long-term share saving program Seop 6. For the top 400 leaders, up to 15% of performance shares are linked to an annual climate target of 7% carbon emission reduction in own operations.
sustainability_report p.12
Skanska actively supports the UN Sustainable Development Goals with focus on SDGs 5 (Gender equality), 8 (Decent work), 9 (Industry/Innovation), 11 (Sustainable cities – most material), 12 (Responsible consumption), 13 (Climate action) and 16 (Peace/Justice/Strong institutions).
sustainability_report p.72
Operational energy intensity (MWh per SEK M revenue) fell 36% between 2015 and 2022 to 6.33. Renewable electricity reached 87% (vs 40% in 2020). Combined with the Powerhouse concept and digital tools like Intellekt in the UK (35% reduced energy use in one building) Skanska is cutting energy demand and decarbonising both its own offices and divested projects, which average 39% below the LEED baseline.
sustainability_report p.80
In 2022, 87% of Skanska's electricity consumption came from renewable sources, up from 40% in 2020. Skanska installs conventional photovoltaic panels on almost all buildings across Commercial Development in the Nordics, and entered a partnership with Soltech Energy in 2022 to develop building-integrated solar cell façades, battery solutions and property technology. The Powerhouse concept in Norway (with Snøhetta, Entra and ZERO) has delivered energy-positive office and school buildings that generate more renewable energy than they consume (e.g. Brattørkaia produces 35 kWh/m² vs 28 kWh/m² consumption). All BoKlok standard apartment projects in Sweden are equipped with solar panels since 2020.
sustainability_report p.76
In 2022 Skanska launched Investment Properties, a fourth business stream targeting a portfolio of high-quality Swedish office properties (SEK 12–18bn target). Three properties (Epic, Aqua in Malmö, Sthlm 01 in Stockholm) acquired internally from Commercial Property Development for SEK 3.7bn. Reported under IAS 40 at fair value, introducing fair-value remeasurement income.
sustainability_report p.5
AGM 2022 resolved to include emission reduction target in own operations (scope 1 and 2) in long-term share saving program for 2023-2025. Up to 15% of performance shares for top 400 leaders linked to annual 7% carbon emission reduction at Group level.
sustainability_report p.70
Skanska's external auditors EY performed limited assurance on GHG (scope 1, 2 and 3), health and safety, energy and waste reporting for FY2022, with first year of GHG limited assurance being 2014.
sustainability_report p.214
AGM 2022 decided to include a carbon emissions reduction target in the Skanska Employee Ownership Program. For the top 400 leaders, up to 15% of performance shares in Seop 6 will be linked to achievement of the annual 7% carbon emission reduction target at Group level.
sustainability_report p.69
Skanska is piloting reuse of building frames (Oslo project starting 2023 with SINTEF, Contiga and Spenncon) and reuse of window frames in atrium façades (Epic, Malmö). 11% of revenue already comes from renovation projects. Suppliers are increasingly required to provide EPDs. Asphalt operations in Sweden reached an all-time-high 23% reused asphalt in new mixes. Self-generated waste to landfill was 6.8% in 2022 (target <5%, missed; 4.3% in 2021).
sustainability_report p.81
Skanska's climate plan ACT and SBTi-validated net-zero by 2045 trajectory focuses entirely on absolute emission reductions in its own operations and value chain through low-carbon materials, electrification, energy efficiency and circularity. The report does not disclose any use of carbon offsets or durable removals (DAC, BECCS, biochar) to meet interim targets. Avoided emissions / Scope 4 are not separately quantified.
sustainability_report p.75
Skanska has been a signatory to UN Global Compact since 2001 and supports its 10 principles on human rights, labor, environment and anti-corruption. Also developing supply chain due diligence in line with OECD Due Diligence Guidance for Responsible Business Conduct and preparing for EU CSDD directive.
sustainability_report p.72
Skanska collaborates closely with suppliers for circular and low-carbon solutions, encouraging delivery of Environmental Product Declarations (EPDs) on products to enable accurate emissions calculations. Strategic procurement secures lower-carbon concrete with fly-ash substitution (e.g. at 1550 on the Green in Houston, ~34% materials emissions reduction). Supplier Code of Conduct flows down requirements.
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All equipment at the Gottorps Hage project was fuelled with HVO100 (renewable diesel from waste). Renewable share of fuel usage rose to 16% in 2022 from 6% in 2018. Business units have set targets for renewable fuels in company vehicles and on site.
sustainability_report p.29
87% of Skanska's electricity consumption came from renewable sources in 2022 (up from 40% in 2020). Strategy includes solar PV on virtually all new Nordic commercial buildings, the Powerhouse concept (energy-positive buildings with Snøhetta, Entra, ZERO, Asplan Viak) where four projects to date deliver 2-8 kWh/m² surplus annually, and a partnership with Soltech Energy on building-integrated solar façades. Quarry operations in Sweden have replaced diesel with electricity on 30% of production sites.
sustainability_report p.76
Use of sold products (50-year lifetime for buildings, 100-year for infrastructure) is the largest single Scope 3 category at 770,000 tCO2e in 2022 (46% of Scope 3). Skanska influences this through smart design, energy-efficient building envelopes, on-site renewable generation (Powerhouse), and sustainability certifications. Annual expected energy reduction in new office divestments was 39% below LEED baseline in 2022.
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2021· 30 events
Scope 1 emissions account for ~90% of own emissions; diesel for on-site machinery is ~half of scope 1. Skanska is electrifying excavators (e.g. ZED project in Norway, eight electric machines in operation, reducing emissions up to 98% per machine when powered by renewable electricity) and switching diesel to HVO biofuel across UK sites for ~90% emissions reduction.
sustainability_report p.74
Climate targets validated by Science Based Targets initiative as in line with the Paris Agreement.
sustainability_report p.7
Skanska joined LeadIT, a partnership of companies and countries committed to the Paris Agreement, in 2021.
sustainability_report p.7
Skanska is applying climate-based scenario analysis aligned with TCFD recommendations, cooperating with WBCSD since 2019 to implement TCFD and business-centric climate scenario analysis.
sustainability_report p.72
Skanska has been a signatory of the United Nations Global Compact since 2001 and continues to support its ten principles relating to human rights, labor, environment, and anti-corruption.
sustainability_report p.84
Skanska increased its share of renewable electricity from 36% (2019) to 78% (2021). Renewable energy is 29% of total energy. The company invests in solar PV at sites (e.g. Scilla project: 1,400 sqm of solar cells covering 60% of property electricity needs; Karlskrona solar cell plant expansion). On UK sites, hydrotreated vegetable oil (HVO) replaces diesel across all projects, certified under International Sustainability and Carbon Certification scheme.
sustainability_report p.75
In the UK, Skanska is switching from high-emission fuels to hydrotreated vegetable oil (HVO) across all UK projects to power all site plant and equipment. Estimated 90% CO2e reduction. Trialled in HS2 Phase One — 100% diesel-free project replacing diesel with HVO, avoiding approximately 250 tonnes CO2e.
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Use of sold products accounts for 41% of scope 3 (695 ktCO2e in 2021), covering projects' energy use over their expected life cycle. Skanska achieved -30% expected annual energy reduction in divested office buildings developed by Commercial Property Development vs LEED baseline. Projects use WELL/LEED/BREEAM certifications; 84% of divested commercial buildings (SEK 6.1bn) were certified.
sustainability_report p.75
Operating income in Europe includes a gain of SEK 370 M related to divestment of the infrastructure services business in the UK.
sustainability_report p.25
Skanska has increased renewable electricity from 36% (2019) to 78% (2021). The Group is electrifying fleet (e.g. emission-free excavators in Norway via ZED project reducing emissions up to 98%), switching diesel to hydrotreated vegetable oil (HVO/Green D+) across UK sites for ~90% CO2e reduction, and integrating on-site solar on developments (Scilla, Täby Park solar generates 270 MWh covering 60%+ of property electricity needs). Total renewable energy share of consumption excluding heat/cooling is 29% in 2021.
sustainability_report p.75
Norway's Powerhouse Telemark is a plus-energy office building — produces more renewable energy than it consumes over its lifetime including embodied. Net energy consumption up to 66% lower than ordinary new buildings. Sweden's Scilla apartment building generates >60% of property electricity from rooftop solar (270 kWh/m² annual). BoKlok Grönhult: energy-plus building with solar cells, hybrid panels, wind turbines and electricity storage; total energy use ~90% below national regulations.
sustainability_report p.31
The interim climate targets were approved as science-based targets for the 1.5°C alignment pathway in 2021, tightening the trajectory.
sustainability_report p.75
Norway operates 8 electric machines including Zero Emission Digger (ZED) excavators developed with Research Council, Innovation Norway and ENOVA. When powered with renewable electricity these excavators reduce emissions up to 98% versus diesel-powered equivalents. Key lever to reduce scope 1, which accounts for ~90% of Skanska's own emissions and where diesel is ~50%.
sustainability_report p.74
Concrete structure reuse demonstrated at Oslo Storbylegevakt project — 39 concrete hollow decks reused from one project to another, reducing carbon emissions 93% per hollow deck and eliminating 98 tons of waste. Self-generated waste to landfill at 4.3% (below 5% target). Czech Republic concrete fully replaces natural aggregates with recycled concrete.
sustainability_report p.85
Skanska's climate strategy emphasises absolute emission reductions across the value chain (scope 1, 2, 3) rather than relying on removals or offsets. Net-zero by 2045 is to be achieved 'across our value chain' through low-carbon materials, electrification, renewable energy and circularity. Biochar soil conditioner is mentioned as an innovation pitched to the Sustainovation council showcasing climate-business opportunities, but no DAC/BECCS or large-scale durable removal programme is disclosed.
sustainability_report p.11
Purchased goods and services (limited to cement, concrete, steel, bitumen) accounts for 56% of scope 3 (950 ktCO2e in 2021). Skanska produces low-carbon concrete reducing emissions up to 52% vs standard concrete; in the Czech Republic concrete entirely replaces natural aggregates with recycled concrete. In Sweden produces BioZero, a near-zero carbon asphalt using bio binder, high-percentage reused asphalt and renewable energy. EC3 digital tool used in all new US development projects from 2021 to compare embodied carbon via EPDs.
sustainability_report p.74
Skanska sharpened its climate target. The 2030 interim target for own operations (scope 1 and 2) was raised from a 50% to 70% emissions decrease vs 2015 baseline. The target was validated by SBTi as in line with the Paris Agreement. Long-term target remains net-zero by 2045 across own operations and value chain.
sustainability_report p.71
For Skanska Development streams the interim target is set as a 50% decrease of value chain (scope 3) carbon emissions by 2030 vs 2020 base year. Validated as Science Based Target.
sustainability_report p.71
Skanska actively supports the United Nations Sustainable Development Goals and identified seven relevant SDGs: 5 (Gender Equality), 8 (Decent Work and Economic Growth), 9 (Industry, Innovation and Infrastructure), 11 (Sustainable Cities and Communities), 12 (Responsible Consumption and Production), 13 (Climate Action), and 16 (Peace, Justice and Strong Institutions).
sustainability_report p.68
Scope 3 reporting expanded to also include waste generated in operations. Scope 3 data for 2020 was updated with improved data quality.
sustainability_report p.94
CDP Climate score of A- received in 2021.
sustainability_report p.68
Skanska sharpened its climate target during 2021: by 2030 reduce own (scope 1 and 2) carbon emissions by 70% (previously 50%) vs 2015 baseline, and reduce project development value chain (scope 3) emissions by 50% by 2030 vs 2020 baseline, with net-zero across value chain by 2045. Target validated by Science Based Targets Initiative (SBTi). Skanska also joined the Leadership Group for Industry Transition (LeadIT).
sustainability_report p.71
Skanska produces low-carbon concrete reducing emissions up to 52% vs standard. In Czech Republic, concrete entirely replaces natural aggregates with recycled concrete. In Sweden, Skanska produces BioZero near-zero carbon asphalt using bio binder, high reused asphalt content, and renewable energy. Materials (concrete, cement, steel, bitumen) account for ~56% of scope 3 (purchased goods category 1).
sustainability_report p.74
During 2021 Skanska joined the Leadership Group for Industry Transition (LeadIT) in partnership with leading corporations and governments of Sweden, USA, UK, Finland, Germany and India. Skanska has also joined the UN-led Race to Zero campaign and continues partnership with Exponential Roadmap Initiative.
sustainability_report p.72
Use of sold products is 41% of scope 3 emissions, dominated by building operating energy. Skanska develops energy-positive Powerhouses (Telemark generates 248,000 kWh/yr from solar, net energy 66% lower than ordinary new buildings) and net-zero developments (Scilla in Sweden, NollCO2-certified Hyllie Terrass). 84% of total divestment value of commercial buildings is WELL/LEED Platinum-Gold/BREEAM Excellent certified. Annual expected energy reduction in divested office buildings is -30% vs LEED baseline.
sustainability_report p.71
In the 2021 reporting, scope 3 expanded to also include waste category; scope 3 use of sold products is now reported by total Commercial and Residential Development business streams. Scope 3 data for 2020 has been updated with improved data quality.
sustainability_report p.94
Operating income in Europe includes a gain of SEK 370 M related to divestment of the infrastructure services business in the UK. Strategic refocusing of construction operations.
sustainability_report p.97
Skanska developed the EC3 tool for the US market with Microsoft and partners, using Environmental Product Declarations (EPDs) to compare materials and measure embodied carbon. From 2021 all new US development projects use EC3. Skanska engages suppliers to deliver carbon data on products. Materials production accounts for 53% of value chain emissions per Skanska's lifecycle analysis.
sustainability_report p.71
Skanska's Sustainovation council piloted a Biochar soil conditioner concept as one example of compatibility between climate efforts and business opportunities. However, no quantified removals (DAC, BECCS) or offsets retired volumes are disclosed in 2021. The climate target relies primarily on direct emission reductions across scope 1, 2, and 3 to achieve net-zero by 2045, rather than removals.
sustainability_report p.11
In Norway's Oslo Storbylegevakt project, Skanska reused 39 concrete hollow decks from one project to another, reducing carbon emissions 93% per hollow deck and eliminating 98 tons of waste. Skanska is working with partners to develop standards and control systems for reused building structures, complementing reduction in waste to landfill (target <5%, achieved 4.3% in 2021).
sustainability_report p.85
2020· 17 events
Most emissions come from production of materials such as concrete, steel and asphalt (Scope 3 cat 1 = 986,777 tCO2e). Skanska partners with suppliers like Saint-Gobain on circularity and life-cycle analysis. Projects use Rebetong (100% recycled aggregate concrete with ~12% lower emissions), climate-improved concrete in Hyllie Terrass NollCO2 pilot.
sustainability_report p.71
Skanska has identified seven relevant SDGs: Goal 5 (Gender equality), Goal 8 (Decent work), Goal 9 (Industry/infrastructure), Goal 11 (Sustainable cities - particular relevance), Goal 12 (Responsible consumption), Goal 13 (Climate action), Goal 16 (Peace/justice).
sustainability_report p.58
In recent years Skanska expanded and improved value chain data quality, establishing 2020 as the base year for scope 3 emissions. Scope 1+2 base year remains 2015. New sustainability reporting system introduced in 2022 enables more granular data collection.
sustainability_report p.76
Skanska holds CDP Climate A- and CDP Water C ratings, and MSCI AAA rating. Listed in OMX Stockholm 30 ESG Responsible Index and FTSE4Good.
sustainability_report p.58
Skanska launched a biochar pilot in 2020 and purchased its first biochar equipment. Biochar is produced by pyrolysis of organic material from agricultural and forest residues, with estimated climate benefit of 2 tonnes CO2 per tonne biochar produced. First project: Skellefteå Site East in Hedensbyn to char land-development stumps. Skanska does not currently disclose explicit offset retirement volumes for inventory purposes.
sustainability_report p.50
Covid-19 negatively impacted operations particularly in Construction stream (Europe and USA disruptions, postponed projects). Production efficiency recovered to pre-Covid levels by second half 2020. Revenue declined ~7% but operating income increased due to PPP divestment gains.
sustainability_report p.6
Self-generated waste to landfill reduced to 4.4% (target 5%). ESS project achieved zero waste to landfill. Hyllie Terrass and Epic projects use upcycled materials (35,221m of reused window frames, 17t reused bricks). Biochar pilot turns wood waste into carbon-negative product with 2 tonnes CO2 climate benefit per tonne produced.
sustainability_report p.72
98% of divested commercial buildings (SEK 12.1 bn) were certified WELL, LEED (Platinum/Gold) or BREEAM (Excellent). Divested office buildings achieve 42% annual energy reduction vs LEED baseline. ~130 ongoing/completed projects under external certification in 2020.
sustainability_report p.70
40% of Skanska's electricity is renewable (vs 36% in 2019). Total renewable energy share 21% (excluding heat/cooling). Solar PV deployed in projects like Norra Vitsippan (net-zero energy). Industrial symbiosis (e.g., ESS using sugar mill beet sand) and PPA-style heat recovery agreements (ESS-E.ON cooling/recycled heat solution).
sustainability_report p.83
Skanska has set a target of achieving net-zero carbon emissions by 2045 including the value chain (scope 1, 2 and 3). Interim target is 50% reduction by 2030 vs 2015 baseline. Committed to having target SBTi-validated.
sustainability_report p.69
Divested 50 percent ownership stake in Elizabeth River Crossings, Virginia, USA, for USD 625 M (about SEK 5.4 billion), resulting in gain on sale of about SEK 4 billion. Major PPP portfolio divestment.
sustainability_report p.5
In 2020 Skanska rolled out the first close to climate-neutral asphalt in Ludvika, Sweden. The asphalt is manufactured in a plant using fossil-free fuel (gradually converting >25 asphalt plants in Sweden), contains up to 70% recycled asphalt, and uses a new renewable binder from forest raw material replacing fossil bitumen. Bitumen accounts for almost half of asphalt's climate footprint.
sustainability_report p.71
In 2020 Skanska obtained Group-wide limited assurance of health and safety data for the first time, in addition to existing limited assurance on GHG emissions.
sustainability_report p.62
Buildings designed for lower operational energy. Norra Vitsippan: net-zero energy rental housing with HYSS hybrid solar system reducing heating/hot water energy by 80%. Powerhouse Telemark - one of most energy-efficient buildings in world. ESS surplus heat will heat 10,000 detached houses via district heating.
sustainability_report p.27
Skanska has been a signatory of the United Nations Global Compact since 2001 and continues to support the Ten Principles relating to human rights, labor, environment and anti-corruption. Supports Paris Agreement and ILO conventions.
sustainability_report p.58
2020 is the first year in which all business units reported scope 3 data, and 2020 will serve as the base year for scope 3 emissions. Includes new categories: Purchased goods, Fuel/energy related, Business travel, Use of sold products.
sustainability_report p.85
Skanska uses biofuels for construction site equipment (e.g., Norra Vitsippan project, ESS project saved 2,383 tonnes of carbon emissions using renewable diesel in machinery). Transitioning fleet to electrification and renewable fuels.
sustainability_report p.18
2019· 3 events
In 2019 Skanska established a Group climate target to achieve net-zero emissions by 2045 both in own operations (scope 1 and 2) and across the value chain (scope 3). Interim 2030 targets: -70% scope 1+2 vs 2015 baseline; -50% scope 3 vs 2020 baseline. Approved by SBTi as science-based target on the 1.5°C alignment pathway in 2021.
sustainability_report p.75
Implementation of IFRS 16 added property, plant and equipment right-of-use assets, current-asset properties right-of-use assets and lease liabilities to the balance sheet. Impact on opening equity Jan 1 2019: SEK -67 M.
sustainability_report p.117
Group climate target established in 2019: net-zero by 2045 for own operations (scope 1+2, -70% by 2030 vs 2015 baseline) and value chain (scope 3, -50% by 2030 vs 2020 baseline). Targets validated as science-based on the 1.5°C pathway in 2021.
sustainability_report p.75