Concrete Targets, Measurable Results

Construction generates roughly 40% of global CO2 emissions and runs on carbon-intensive materials, fragmented multi-tier supply chains, and safety-critical sites. Skanska AB, a Swedish construction and property developer with SEK 177 billion in 2023 net revenue, treats this as a structural problem requiring operational change, not disclosure.

Skanska converted equipment fleets to renewable diesel, co-developed the open-source EC3 tool to standardise embodied carbon measurement industry-wide, wrote binding ESG standards into its Tier 1 supplier contracts, and linked Board-level remuneration to ESG performance starting in 2021.

Scope 1 and 2 emissions fell 61% against the 2015 baseline by 2023, seven years ahead of the 2030 target, while over 98% of Tier 1 supplier spend is now covered by audited standards and Lost Time Injury Rate dropped to 1.4.