Climate neutral by 2040 – at the latest

Towards climate neutrality by 2040

Sweco’s goal is to achieve climate neutrality in its own operations  by 2040 and halve the company’s emissions by 2030. Sweco’s base year for climate reporting is 2020, with all emissions reductions being measured against 2020 levels.

2023 in brief

1. In 2023, an inventory of Scope 3 emissions was conducted to identify material scope 3 categories across the Group. As a consequence, additional emission categories were added during 2023. All entities within Sweco are now required to report on all material emission categories decided by Group. Due to the expanded Scope 3 coverage and growth due to aquisitions since 2020, a recalculation of prior years 2020-2023 was conducted. This means that the total emissions are higher compared to previously reported emissions.
2. 66,449 tonnes CO2e in Scopes 1, 2 and 3 in the Greenhouse Gas Protocol (64,692)
3. Sweco’s operations have grown both organically and through acquisitions since base year 2020, which has also led to increased emission levels. However, Sweco’s emission intensity of 3.3 tonnes CO2e per FTE decreased by 4 per cent in 2023 compared to 2020. The reduction is mainly due to measures taken in Scope 1 and 2.
4. Scope 1 and 2 emissions decreased with 3 per cent compared to previous year.
5. The share of electric and hybrid vehicles increased to 59 per cent in 2022 compared to 42 per cent in 2022.

Climate targets aligned with Paris Agreement

Sweco adheres to the “Business Ambition for 1.5°C” and has set climate targets aligned with what is required to limit global warming to 1.5°C. In 2022, Sweco submitted climate targets for validation and approval by the Science Based Targets initiative (SBTi). In 2023, Sweco decided to conduct a review of the company’s group-wide climate neutrality goal, with targets and measures to be developed to accelerate the transition in areas such as mobility and offices. In dialogue with SBTi, Sweco plans to update its application with new climate targets and revised emission levels during spring 2024.

Sweco’s climate neutrality is to be achieved primarily through emissions reductions in our own operations, with no more than 15 per cent to be achieved through carbon sinks, emissions offsets, or climate compensation through established and third-party verified mechanisms.