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AFRY
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Exponential Framework
Standing firm in uncertain times - delivering world-leading results in climate solutions enablement
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
Exponential Leadership Criteria
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
Climate Performance Across Five Pillars
Detailed assessment of commitment and reporting across each transformation pillar
Cut Operational Emissions
Commitment
50% emissions reduction by 2030, Net Zero by 2040 - SBTi validated targets
- 50% CO2 reduction by 2030 (base year 2019)
- Net Zero by 2040 across all operations
- Fossil-free fleet: -90% Scope 1 targetLeading
- Digital-first meeting policy to reduce business travel
- EV fleet transition for company vehicles
- Commuting emissions: -64% reduction achieved (2024 vs 2023)
Progress & Evidence
Total GHG 2024: ~44,085 tCO₂e (Scope 1-3) - expanded reporting now includes purchased goods & commuting
- Scope 1: ~1,305 tCO₂e (company vehicles)
- Scope 2: ~2,944 tCO₂e (office energy)
- Scope 3: ~39,836 tCO₂e (travel, purchased goods, commuting)
- Emissions intensity: 833 kg CO₂/employee (-37% vs 2019)
- Commuting emissions: -64% reduction (2024 vs 2023) - hybrid work policy impact
Decarbonize Value Chain
Commitment
Supplier engagement: 79% of suppliers with SBTi targets, targeting 87% by 2027
- 79% of suppliers with SBTi-validated targets (2024)
- Target: 87% supplier SBTi coverage by 2027
- Pioneer of Carbon Handprint methodology (with VTT & LUT University)
- Based on ISO 14040/14044 Life Cycle Assessment principles
- Aligned with EU Green Claims Directive requirements
Progress & Evidence
Professional Services Matrix: Systematic supplier climate assessment framework
- 79% suppliers with SBTi targets → 87% target by 2027
- Professional Services Matrix pilot (CPR 2025) - first of its kind
- Cloudberry 2023: 121,836 tCO2e avoided (doubled YoY)
- Methodology scientifically published (Int'l Journal of Sustainable Engineering)
Build & Scale Solutions
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
Mobilize Finance & Investment
Commitment
Innovative Climate Finance: Pay-As-You-Save building investments + green bonds advisory
- Pay-As-You-Save model: Building energy upgrades funded by guaranteed savings
- Green bond structuring and issuance advisory for clients
- Impact investing alignment with ESG principles
- Carbon market modelling for investors and financiers
- Climate and transition risk assessments and stress tests
Progress & Evidence
Dual approach: Direct innovative financing (Pay-As-You-Save) + advisory enabling others to deploy climate capital
- AFRY Buildings: Pay-As-You-Save program removing upfront cost barriers for energy efficiency
- Energy Cooperation: Shared planning, implementation & monitoring with property owners
- LTA for 344.5 MW Finland wind project financing
- Green Bond Framework advisory for Aker Horizons (hydrogen, CCS)
- Technical validation enabling green loan classification
- Cash holdings climate impact: ~11,700 tCO₂e/yr ≈ equal to business travel emissions
Shape Policy & Narrative
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
Reporting & 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
Climate Policy Engagement Assessment
Independent analysis by InfluenceMap/LobbyMap · Last updated Q4 2025
Assessment Overview
AFRY AB's climate policy engagement is aligned with policy pathways that can deliver the temperature goals of the Paris Agreement. AFRY is actively engaged on climate policy, including EU level renewable energy and energy efficiency policies. The company has also engaged positively on the energy transition, particularly the decarbonization of industry and the development of renewable energies.
Strengths
- •Paris Agreement aligned policy engagement
- •Active advocacy for EU renewable energy and energy efficiency policies
- •COP30 advocacy for clear fossil fuel transition roadmap
- •CEO public statements supporting low-carbon transition
- •Support for COP28 targets (doubling efficiency, tripling renewables)
- •Published Fossil Detox Progress Report as thought leadership
Gaps & Weaknesses
- •Industry association membership list not disclosed (-2 score)
- •Fossil gas position lacks IPCC-aligned phase-out timeline
- •No public position on carbon tax or emissions trading
Policy Position Scoring Matrix
| Policy Area | Web | Media | CDP | Gov | News | CEO | Fin |
|---|---|---|---|---|---|---|---|
Communication of Climate Science Highly positive communication on climate science | +2 | +2 | NS | NS | NS | NS | NS |
Alignment with IPCC on Climate Action Supports 1.5°C aligned action | +2 | +1 | NS | NS | NS | NS | NS |
Supporting the Need for Regulations Positive support for climate regulations | +1 | +1 | NS | NS | NS | NS | NS |
Support of UN Climate Process Supports UN climate processes including COP30 advocacy | +1 | +1 | NS | NS | NS | NS | NS |
Transparency on Legislation Neutral on legislative transparency | 0 | NS | NS | NS | NS | NS | NS |
Carbon Tax No public statement | NS | NS | NS | NS | NS | NS | NS |
Emissions Trading No public statement | NS | NS | NS | NS | NS | NS | NS |
Energy and Resource Efficiency Strongly supports energy efficiency policies including EU EED | +2 | +2 | NS | NS | NS | NS | NS |
Renewable Energy Strongly supports renewable energy expansion | +2 | +1 | NS | NS | NS | NS | NS |
Energy Transition & Zero Carbon Technologies Supports energy transition, hydropower, green hydrogen | +1 | +1 | NS | NS | NS | +1 | NS |
GHG Emission Regulation Positive on GHG regulations | +1 | NS | NS | NS | NS | NS | NS |
Disclosure on Relationships Industry association memberships not disclosed | -2 | NS | NS | NS | NS | NS | NS |
Land Use Neutral position | NS | 0 | NS | NS | NS | NS | NS |
Key Evidence
Supported EU Clean Industrial Deal and increasing ambition of COP28 targets
Advocated for COP30 policymakers to establish clear fossil fuel transition roadmap
Supported EU Renewable Energy Directive streamlined permitting processes
Advocated for more ambitious energy efficiency targets under EU EED
Linda Pålsson gave statement supporting transition to low carbon economy and transitioning away from fossil fuels
Supports fossil gas as "low-carbon" without IPCC-aligned phase-out timeline (gap identified)
Data sourced from LobbyMap by InfluenceMap · Assessment methodology available at influencemap.org/methodology
Climate Solutions
AFRY enables climate solutions through engineering expertise and advisory services
AFRY's largest projects achieve ~127x multiplier when accounting for AFRY's documented role (avoided emissions vs. AFRY's own footprint). Using conservative IFI methodology with role-based attribution, verified project multipliers range from 1.8x to ~127x depending on project scale and AFRY's role.
Climate Solutions Services
Design and advisory for renewable energy projects
Engineering solutions for heavy industry transition
Low-carbon transport and building systems
Quantifying avoided emissions for clients
Featured Climate Projects Enabled
View all in Impact RatioCarbon Handprint Methodology with Role-Based Attribution
AFRY pioneered the Carbon Handprint methodology with VTT & LUT University, measuring positive climate impact beyond footprint reduction. Based on ISO 14040/14044 Life Cycle Assessment principles and adopted by the Climate Leadership Coalition. Impact multipliers use role-based attribution aligned with GHG Protocol and WBCSD standards to prevent double-counting.
Learn more about the methodologyEmissions 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.
Company Details
Legal entity information and industry classification
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 and documentation supporting this profile
External Climate Data Sources
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