AFRY
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Overview
AFRY's Leadership in the Exponential Framework
Where AFRY Can Have the Biggest Impact: Pillar 3: Build & Scale Solutions (50%)
As an engineering consultancy, AFRY's climate impact comes primarily from enabling others' climate transformation. Their own operational footprint (P1: 5%) is minimal compared to the gigawatt-scale clean energy projects they design and advise on.
Highlighted areas show where AFRY demonstrates climate leadership
Click any highlighted category to see evidence
Cross-Cutting Categories
Professional Services
Consultancies, engineering firms
Build & Scale Solutions
Climate solutions, avoided emissions, product innovation
Mobilize Finance & Investment
Green bonds, climate finance, capital allocation
Why These Weights?
As an engineering consultancy, AFRY's climate impact is primarily through enabling client decarbonization at gigawatt scale (P3: 75%). Their 90 GW solar advisory creates an impact ratio of ~127x compared to their own operational footprint (using conservative IFI methodology with role-based attribution). Secondary impact comes through innovative climate financing mechanisms like Pay-As-You-Save and green bond advisory (P4: 15%).
Adjustments Applied
Five Pillars
Pillar 1: Cut Operational Emissions
Reduce Direct Impact Through Efficiency
Operational emissions (Scope 1 & 2) represent a company's direct climate footprint from facilities, fleet, and purchased energy. While often a smaller portion of total impact for service companies, leading on operations builds credibility and demonstrates commitment.
Learn about Pillar 1AFRY's Operational Emissions Assessment
Commitment
50% emissions reduction by 2030, Net Zero by 2040 - SBTi validated targets
Progress & Evidence
Total GHG 2024: ~44,085 tCO₂e (Scope 1-3) - expanded reporting now includes purchased goods & commuting
Deep Dive: Emissions Breakdown
Detailed analysis of Scope 1 & 2 emissions by category
Office energy, heating, cooling
Company vehicles, fuel consumption
Electricity, steam, heat
Manufacturing, fugitive emissions
Detailed emissions breakdown charts and trend analysis will be displayed here when connected to emissions data sources (CDP, TPI, company reports).
View Emissions DashboardPillar 2: Decarbonize Value Chain
Transform Supply Chains for Net Zero
Value chain emissions (Scope 3) often represent the largest portion of a company's carbon footprint. Engaging suppliers, setting science-based targets, and driving upstream decarbonization creates systemic change across entire industries.
Learn about Pillar 2AFRY's Value Chain Assessment
Commitment
Supplier engagement: 79% of suppliers with SBTi targets, targeting 87% by 2027
Progress & Evidence
Professional Services Matrix: Systematic supplier climate assessment framework
Deep Dive: Supply Chain Engagement
Scope 3 categories and supplier engagement programs
Raw materials, components, services
Upstream & downstream logistics
SBTi targets, CDP disclosure
Product use emissions
Detailed Scope 3 breakdown and supplier engagement metrics will be displayed here when connected to data sources (CDP Supply Chain, SBTi, company reports).
View SBTi DataAFRY's Climate Solutions Assessment
Commitment
Core business: Engineering climate solutions - 70% of revenue from 'Transforming Segments'
- Coal exit: No new coal CAPEX projects since January 1, 2021
- 42% EU Taxonomy-eligible revenue (Q3 2023)
- Energy Division organic growth 11.9% (Q3 2023)
- Focus: renewables, hydrogen, BECCS, industrial decarbonization
- Professional Services Matrix: Assessing customer/project 1.5°C alignmentInnovation
Progress & Evidence
Impact Ratio: Individual projects achieve multipliers from ~1.8x to ~127x when accounting for AFRY's documented role (using role-based attribution methodology)
- Global Solar: 90 GW advised (~39.8 MtCO₂e/yr gross, 14% AFRY attribution) = ~127x project multiplier
- Batoka Gorge Hydro: 2,400 MW (~7.9 MtCO₂e/yr gross, 4% AFRY attribution) = ~7x project multiplier
- Norcem Brevik CCS: 400,000 tCO₂/yr captured (20% AFRY attribution) = ~1.8x project multiplier
- St1 Gothenburg: 200,000 t SAF/yr (~0.5 MtCO₂e/yr gross, 25% AFRY attribution) = ~2.8x project multiplier
- OX2 Neptunus: 3.1 GW offshore wind (~3.6 MtCO₂e/yr gross, 20% AFRY attribution) = ~16x project multiplier
Status: Note: Multipliers are project-specific (attributed avoided emissions ÷ AFRY's total footprint), reflecting AFRY's documented role in each project using role-based attribution aligned with GHG Protocol and WBCSD standards.
Deep Dive: Flagship Projects
Detailed analysis of AFRY's climate solutions portfolio
Flagship Projects
Global Solar Advisory Portfolio
Technical advisory for utility-scale solar projects across 500+ installations worldwide
- Largest solar advisory portfolio globally
- 14% role-based attribution per IFI methodology
- Projects span Europe, Africa, Asia, Americas
Batoka Gorge Hydropower
Major hydropower development on the Zambezi River providing clean energy for Southern Africa
- One of Africa's largest hydropower projects
- Will power millions of homes
- AFRY providing feasibility and design services
Norcem Brevik CCS
World's first full-scale carbon capture at a cement plant
- Breakthrough technology for hard-to-abate sector
- Part of Northern Lights CCS value chain
- AFRY provided engineering and project management
St1 Gothenburg SAF Refinery
Large-scale sustainable aviation fuel production facility
- One of Europe's largest SAF facilities
- Using waste and residue feedstocks
- AFRY providing process engineering
OX2 Neptunus Offshore Wind
Major offshore wind development in Swedish waters
- Will be one of world's largest offshore wind farms
- Enough power for 3 million homes
- AFRY providing environmental and technical studies
Attribution Methodology
Avoided emissions are calculated using role-based attribution aligned with GHG Protocol and WBCSD standards. Attribution percentages reflect the company's documented contribution to each project based on scope of work and influence on project outcomes.
Pillar 4: Mobilize Finance & Investment
Align Capital with Climate Goals
Climate finance mobilizes capital toward decarbonization through green bonds, sustainable investment, and innovative financing mechanisms. Companies can accelerate their own transition and enable others through strategic capital allocation.
Learn about Pillar 4AFRY's Climate Finance Assessment
Commitment
Innovative Climate Finance: Pay-As-You-Save building investments + green bonds advisory
Progress & Evidence
Dual approach: Direct innovative financing (Pay-As-You-Save) + advisory enabling others to deploy climate capital
Deep Dive: Climate Finance Activities
Green bonds, sustainable investment, and financing mechanisms
Climate-aligned debt instruments
ESG-aligned capital allocation
Project finance, blended finance
Shadow pricing, carbon funds
Detailed climate finance activities and metrics will be displayed here when connected to data sources (CDP, company sustainability reports).
View CDP DataAFRY's Policy & Advocacy Assessment
Commitment
Active policy advocacy through thought leadership and strategic partnerships
- Published Fossil Detox Report with carbon pricing recommendations
- Publish policy recommendations through AFRY Insights
- Participate in WEF Davos sharing industrial decarbonization roadmaps
Progress & Evidence
Fossil Detox Report and energy transition thought leadership
- Fossil Detox Report: carbon pricing, permitting reform recommendations
- AFRY Insights publications on grid stability and Zero Carbon Gas
- WEF Davos participation sharing industrial decarbonization roadmaps
- Financial Times Europe's Climate Leaders list 2024
Status: Using technical authority to advocate for science-based policy
LobbyMap Assessment Not Available
AFRY is not currently covered by InfluenceMap's LobbyMap assessment. The Pillar 5 summary above is based on ERI's Climate Performance Review data.
Learn more about LobbyMap coverageHorizontals
Commitments
Climate Targets & Pledges
Net zero commitments, science-based targets, and Race to Zero membership demonstrate a company's ambition and accountability for climate action.
Learn about CommitmentsCommitments
Climate targets and ambitions aligned with 1.5°C | Updated 2024
Near-term Targets
SBTi validated targets36% absolute reduction in Scope 1+2 GHG emissions
vs baseline (2019)
SBTi: Targets Set36% absolute reduction in Scope 3 business travel emissions
vs baseline (2019)
SBTi: Targets Set87% of suppliers by spend with SBTi targets
vs baseline (2022)
SBTi: Targets SetNet Zero Target
Scope 1+2+3
Originally validated 2020-11-26
Note: Expired commitment
Also: Race to Zero
Commitments by Pillar
P1
Operational Emissions
Halve Scope 1+2 emissions by 2030, achieve net zero by 2040
37% intensity reduction achieved
P2
Value Chain
87% of suppliers with SBTi targets by 2027
79% suppliers with SBTi targets
P3
Climate Solutions
Scale advisory services enabling client decarbonization
90 GW solar portfolio, ~127x multiplier
P4
Climate Finance
Expand Pay-As-You-Save financing for building efficiency
3M+ m² under management
P5
Policy & Advocacy
Publish annual Fossil Detox Report, engage in industry associations
Fossil Detox Report author
Race to Zero Alignment
Meeting allPledge
Net zero commitment
Plan
Transition plan
Proceed
Taking action
Publish
Progress reporting
Persuade
Advocacy & influence
Governance Body
Group Management Team
Executive Accountability
CEO and CFO
Board Oversight
Board of Directors reviews climate strategy annually
Transition Plan
Roadmap to Net Zero
A credible transition plan outlines the specific actions, milestones, and investments needed to achieve climate targets.
Learn about Transition PlanTransition Plan: Published
AFRY Sustainability Strategy 2030
Decarbonization Levers
P1: Operational Emissions
Renewable Energy Procurement
In progressTransition to 100% renewable electricity across all offices globally
Fleet Electrification
In progress90% fossil-free company vehicle fleet
Business Travel Reduction
ImplementedReduce business travel emissions through hybrid work and virtual meetings
P2: Value Chain
Supplier Engagement Program
In progressEngage top 100 suppliers to set SBTi-aligned targets
Purchased Goods Optimization
In progressPrioritize low-carbon suppliers and sustainable procurement
P3: Climate Solutions
Advisory Portfolio Expansion
ImplementedScale renewable energy, hydrogen, and CCS advisory services
Carbon Handprint Methodology
ImplementedQuantify and report avoided emissions from client projects
P4: Climate Finance
Pay-As-You-Save Financing
ImplementedExpand building efficiency financing to remove upfront cost barriers
P5: Policy & Advocacy
Industry Engagement
ImplementedActive participation in ERI, trade associations, and policy forums
Key Milestones
Ceased advisory services for new coal power projects
Near-term targets validated by Science Based Targets initiative
Majority of key suppliers committed to science-based targets
All offices powered by renewable energy
Target for supplier engagement program
Halve Scope 1+2 emissions vs 2019 baseline
Achieve net zero across full value chain
Transition Risks
| Risk | Category | Likelihood | Impact | Mitigation |
|---|---|---|---|---|
Scope 3 data quality | Transition | Medium | Medium | Expanding Scope 3 reporting coverage, engaging suppliers on data sharing |
Client project pipeline volatility | Market | Medium | High | Diversified service portfolio across energy, infrastructure, and industry sectors |
Regulatory changes in key markets | Regulatory | Medium | Medium | Active monitoring and engagement with policy developments |
Key Assumptions
- Grid decarbonization continues in key markets (Sweden, Finland, Norway)
- Client demand for climate advisory services grows with regulatory pressure
- Technology costs for renewables and hydrogen continue to decline
Reporting & Transparency
Disclosure & Verification
Transparent reporting through CDP, TCFD alignment, and third-party verification builds trust and enables stakeholders to assess progress.
Learn about Reporting & TransparencyReporting & Transparency
Disclosure quality and verification status | 2024 Report
Disclosure Frameworks
Carbon Disclosure Project
Climate Change questionnaire
Task Force on Climate-related Financial Disclosures
Integrated in Annual Report
Global Reporting Initiative
GRI Standards referenced
Corporate Sustainability Reporting Directive
Preparing for ESRS compliance
Third-Party Verification
Scope 1+2
Limited assuranceVerified by Third-party auditor
Selected categories
Limited assuranceVerified by Third-party auditor
Data Quality & Coverage
Scope 1
100%
coverage
Scope 2
100%
coverage
Scope 3
80%
coverage
Scope 3 Categories Reported:
Scope 3 expanded in 2024 to include Cat 1, 6, 7. Carbon handprint not consolidated in corporate emissions.
Data Gaps:
- • Scope 3 Cat 11 (Use of sold products) - methodology under development
- • Carbon handprint not yet consolidated
Performance Trajectory
Scope 1+2 Emissions
tCO₂e
Baseline (2019)
21,550 tCO₂e
Current (2024)
14,841 tCO₂e
Target (2030)
10,775 tCO₂e
Emissions Intensity
kg CO₂/employee
Baseline (2019)
1,320 kg CO₂/employee
Current (2024)
833 kg CO₂/employee
Target (2030)
660 kg CO₂/employee
Renewable Electricity
%
Baseline (2019)
80 %
Current (2024)
95 %
Target (2025)
100 %
Supplier SBTi Coverage
%
Baseline (2022)
0 %
Current (2024)
79 %
Target (2027)
87 %
Key Strengths
- •CDP A- score demonstrates strong disclosure quality
- •Full TCFD alignment with scenario analysis
- •Third-party verification of emissions data
- •Transparent methodology for Carbon Handprint
Areas for Improvement
- •Expand Scope 3 coverage to additional categories
- •Move from limited to reasonable assurance
- •Consolidate carbon handprint in reporting
Metrics
Emissions Dashboard
Scope 1, 2, 3 Breakdown
Track historical emissions, target trajectories, and intensity metrics across all scopes.
Learn about Emissions DashboardEmissions Dashboard
2024 Data | Baseline: 2019 | Net Zero Target: 2040
!Scope 3 expanded in 2024 to include purchased goods (Cat 1), business travel (Cat 6), and commuting (Cat 7) - this methodology change explains the apparent emissions increase
Science-Based Targets
All targets measured against 2019 baseline (21,550 tCO₂e total emissions)
SBTi Net Zero Standard: Companies must reduce emissions by at least 90% from their baseline year and neutralize residual emissions (≤10% of baseline) through permanent carbon removal.Source: SBTi Corporate Net-Zero Standard
| Year | Scope 1 | Scope 2 | Scope 3 | Total | Revenue (MSEK) | Employees |
|---|---|---|---|---|---|---|
| 2019 | 3,259 | 3,835 | 14,456 | 21,550 | 19,792 | 16,348 |
| 2020 | 1,165 | 3,750 | 6,298 | 11,214 | 18,991 | 15,871 |
| 2021 | 1,626 | 3,283 | 5,718 | 10,627 | 20,104 | 16,000 |
| 2022 | 3,105 | 2,494 | 10,791 | 16,390 | 23,552 | 17,340 |
| 2023 | 4,040 | 3,114 | 10,999 | 18,153 | 26,978 | 18,984 |
| 2024 | 340 | 3,295 | 40,450 | 44,085 | 27,160 | 18,238 |
Data sources: 2022-2024 all data from Klimatkollen. 2019-2021 emissions from Klimatkollen, economic data (revenue, employees) from AFRY Annual Reports.
Impact Ratio
Avoided vs Own Emissions
For climate solutions companies, the impact ratio measures avoided emissions enabled by products and services relative to the company's own footprint.
Learn about Impact RatioThe Impact Ratio
AFRY's climate impact extends far beyond their own operations. Using conservative IFI methodology with role-based attribution, their solar portfolio achieves ~127x multiplier; verified projects range from 1.8x to ~127x when accounting for AFRY's documented role in each project.
AFRY's climate projects achieve multipliers ranging from 2x – 127x(project avoided emissions vs. AFRY's total operational footprint of ~44,000 tCO₂e (2024)).
Impact Ratio Formula: Handprint ÷ Footprint = Multiplier. The handprint is "the reduction of the carbon footprint of others" (VTT Guide, p.11). A 10x multiplier means for every tonne emitted, the company enables 10 tonnes avoided for customers.
View Full Methodology & Scientific ReferencesKPI Dashboard
Key Performance Indicators
Track progress across all five pillars with quantified metrics and trend analysis.
Learn about KPI DashboardKey Performance Indicators
5 Pillars + 2 Cross-Cutting Categories (Commitment & Reporting)
Cross-Cutting Categories
Data Quality Notes
- • Scope 3 expanded in 2024 to include purchased goods (Cat 1), business travel (Cat 6), and commuting (Cat 7)
- • Carbon handprint not consolidated across all projects
- • PERSUADE criteria (Race to Zero) not yet met - trade association disclosure pending
Crocodile Economics
Emissions & Economy Decoupling
The 'crocodile chart' shows whether a company is successfully decoupling economic growth from emissions - the jaws should be opening.
Learn about Crocodile EconomicsEmissions & Economy Decoupling
Tracking the relationship between AFRY's emissions and economic growth
Company Scope 1 & 2 from target base year
AFRY — Scope 1 & 2 emissions vs. revenue growth
Scope 1 & 2 trajectory
Gap between revenue and emissions
Business growth trajectory
Company Scope 1, 2 & 3 from target base year
AFRY — Scope 1, 2 & 3 emissions vs. revenue growth
Scope 1, 2 & 3 trajectory
Gap between revenue and emissions
Business growth trajectory
Total Emissions (Scope 1-3) per Employee from target base year
AFRY — Emissions intensity vs. workforce growth
tCO₂e per employee trajectory
Gap between workforce and emissions intensity
Workforce growth trajectory
References
Company Details
Legal Entity Information
Company identifiers, legal information, and industry classification hierarchy.
Company Details
Industry Classification (GICS)
Legal Entity Identifier (LEI)
Wikidata
LinkedInLinkedIn Profile
AFRY is a European leader in engineering, design, and advisory services, with a global reach. We accelerate the transition towards a sustainable society. We are 19,000 devoted experts in infrastructure, industry, energy and digitalisation, creating sustainable solutions for generations to come.
Sources & References
Data Sources & Documentation
External climate data sources and documentation supporting this profile.
External Climate Data Sources
External Climate Data Sources
Document Sources
No document sources available yet.
Sources will appear here as they are added.