Veidekke

Earnings Release • Dec 8, 2020

Veidekke rated A by CDP for third consecutive year

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

Veidekke press photos  (https://veidekke.fotoware.cloud/fotoweb/archives/5028

-Pressebilder-Veidekke/)

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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.