Our long-term target is to achieve net-zero carbon emissions in our own operations and in the value chain by 2045. This is in line with the Paris Agreement, and has been approved as a Science Based Target. To reduce emissions in the value chain and to achieve our climate target we build partnerships for innovation. We participate to develop sustainability standards for buildings and infrastructure. Certification and measurement are important drivers to make sustainability a part of the customer offering. Third-party certifications of projects are a way to meet investor and customer expectations. For Skanska, the EU Taxonomy entails a potential foundation on which future sustainability performance and strategies can be set and measured. In line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), we make use of climate-based scenario analysis to identify and address potential business risks and opportunities associated both with a transition to a low-carbon economy and with the physical consequences of climate change.
Skanska has measured and reported carbon emissions since 2008. We use 2015 as the base year for our own emissions (scope 1 and 2). In recent years, we have expanded and improved the quality of our value chain data, with 2020 serving as the base year for value chain (scope 3) emissions. Most of Skanska’s carbon emissions, 90 percent, stem from the value chain, calculated as scope 3. The carbon emissions originate from the sourcing of materials, construction operations and the operational phase of our buildings and infrastructure. Performance is followed up on a quarterly basis by the Group Leadership Team and the Board of Directors.