Received the 2023 Carnegie Sustainability Award

Since 2019 Carnegie has awarded companies for their sustainability work with the purpose of shining a light on sustainability metrics that create shareholder value and presenting good examples to inspire companies and investors.
This is the first time AF Gruppen has been awarded this prize. Other winners of this year's award are Novo Nordisk and Kempower. Carnegie states that the winners of the 2023 award are good examples of companies that are not only successful in integrating sustainability in their business model, but they have also shown a high ambition to make a positive impact and reduce their environmental footprint.
Beneficial business opportunities
Climate and environment is a separate initiative in AF's corporate strategy to reduce the company’s eco-footprint and be a leader in creating socially beneficial business opportunities. The goal is to halve greenhouse gas emissions and waste volumes that cannot be reused or recycled for the service types construction, building and demolition by 2030, taking into account turnover.
"Climate and the environment are an important part of our work when we clean up the past and build for the future. We know that our industry impacts the environment and it is our responsibility to ensure that the impact is as small as possible. The importance of good reporting and transparency is increasingly emphasised by investors, and it is a very nice recognition to be awarded this prize," says Eirik Wraal, EVP of AF Gruppen.
The jury's justification for the award to AF Gruppen
The construction sector contends with daunting sustainability challenges, such as emissions, waste generation and adverse biodiversity impacts. AF Gruppen is at the forefront of the industry with its sustainability work, having its own recycling and recovery centres. CO2 savings from its environmental centres and demolition activities correspond to ~150% of its own climate emissions. The company has ambitious sustainability targets and it leads the industry in recycling, with waste source separation rates of 88% in its construction operations, 90% in its rehabilitation business and 96% in its demolition business. This compares with the EU’s recycling target rate of 70% for construction and demolition waste, and the current EU average rate of 50%.
Contacts
Eirik WraalEVP Energy & Environment and Building Norway and Corporate Social Responsibility
Tel:+47 905 73 975Eirik.Wraal@afgruppen.noImages

About AF Gruppen ASA
AF Gruppen is a leading contracting and industrial group that was formed by an entrepreneurial spirit and execution capabilities. The group has 6,000 employees and revenue reached NOK 30,6 billion in 2024. AF Gruppen is listed on Oslo Stock Exchange (AFG).
We provide a broad range of services with seven operational business areas: Civil Engineering, Building, Betonmast, Property, Energy and Environment, Sweden and Offshore.
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Latest releases from AF Gruppen ASA
To build apartments in Southern Sweden25.4.2025 08:00:00 CEST | Press release
AF Gruppen has been selected as the contractor by LKF, Lunds Kommun Fastighets AB, to build 117 new apartments in the Råbykungen district in Lund. The contract value will be approximately SEK 189 million excluding VAT.
Rehabilitating student housing in Bergen14.4.2025 09:09:24 CEST | Press release
LAB Entreprenør, a company within AF Gruppen, has signed an agreement with Sammen, the Student Welfare Organization of Vestland, to rehabilitate a residential building in Hatleberg, Bergen. The agreement is a turnkey contract valued at NOK 146 million excluding VAT.
Building more homes for OBOS at Fornebu10.4.2025 13:59:39 CEST | Press release
AF Gruppen has entered into an agreement with Storøykilen Utvikling AS, a wholly owned subsidiary of OBOS Fornebu AS, to build blocks 5 and 6 in the residential project Storøykilen at Fornebu in Bærum. The project will be carried out as a turnkey contract, and the contract is valued at NOK 412 million excluding VAT.
Awarded contract for Aker hospital heating plant31.3.2025 13:17:09 CEST | Press release
AF Gruppen has been awarded a contract by Hafslund Celsio for electromechanical work at the Aker Hospital heating plant. The contract is valued at approximately NOK 100 million, excluding VAT.
Assignment on the Ofoten Line for Bane NOR21.3.2025 15:39:39 CET | Press release
Consolvo, a company in AF Gruppen, has today signed a contract with Bane NOR SF for the upgrade of the Linbanen Snow Shelter on the Ofoten Line. The contract is a construction contract with a value of NOK 122 million excluding VAT.
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