Olav Thon Gruppen Sustainability Profile
Olav Thon Gruppen, a prominent player in the Norwegian real estate and hospitality sectors, is headquartered in Oslo, Norway. Founded in 1951, the company has established itself as a leader in property management and development, with a diverse portfolio that includes shopping centres, hotels, and residential properties across Norway and Sweden. The group is renowned for its commitment to sustainability and innovation, offering unique services that enhance customer experiences in both retail and accommodation. With a strong market position, Olav Thon Gruppen has achieved significant milestones, including the development of some of Norway's largest shopping centres. Its dedication to quality and community engagement has solidified its reputation as a trusted name in the industry.
DitchCarbon Score
How does Olav Thon Gruppen's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Business Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Olav Thon Gruppen's score of 63 is higher than 79% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Olav Thon Gruppen's reported carbon emissions
In 2024, Olav Thon Gruppen reported total carbon emissions of approximately 144,649,000 kg CO2e. This figure includes Scope 1 emissions of about 3,989,000 kg CO2e, primarily from stationary combustion (approximately 3,730,000 kg CO2e), and Scope 2 emissions of about 106,767,000 kg CO2e, with the majority stemming from purchased electricity. Additionally, Scope 3 emissions were reported at approximately 33,893,000 kg CO2e, with significant contributions from upstream leased assets (about 18,969,000 kg CO2e) and waste generated in operations (approximately 7,585,000 kg CO2e). Comparatively, in 2023, the company’s total emissions were about 322,687,000 kg CO2e, indicating a substantial reduction in emissions year-on-year. The breakdown for 2023 included Scope 1 emissions of approximately 4,887,000 kg CO2e, Scope 2 emissions of about 9,328,000 kg CO2e, and Scope 3 emissions of approximately 308,473,000 kg CO2e. Olav Thon Gruppen has committed to achieving net-zero emissions across all scopes by 2050, as part of their Science Based Targets initiative (SBTi) commitments. This long-term target reflects their dedication to sustainability and climate action within the real estate sector. The company is currently on track with its near-term targets, demonstrating a proactive approach to reducing its carbon footprint. The emissions data is cascaded from the parent company, Olav Thon Gruppen AS, ensuring consistency and transparency in reporting.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 8,617,000 | 00,000,000 | 0,000,000 | 00,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 67,971,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 000,000,000 |
| Scope 3 | 45,429,000 | 00,000,000 | 0,000,000 | 000,000,000 | 000,000,000 | 00,000,000 |
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Olav Thon Gruppen's Scope 3 Categories Breakdown
Olav Thon Gruppen's Scope 3 emissions, which decreased by 89% last year and decreased by approximately 25% since 2019, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 23% of total emissions under the GHG Protocol, with "Upstream Leased Assets" being the largest emissions source at 56% of Scope 3 emissions.
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Olav Thon Gruppen's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Olav Thon Gruppen has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Olav Thon Gruppen's sustainability data and climate commitments