GlobalData offers a comprehensive analysis of Granite Construction, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Granite Construction‘s ESG performance. GlobalData’s company profile on Granite Construction offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Granite Construction, a US-based construction company, has prioritized reducing greenhouse gas emissions and minimizing greenhouse gas (GHG) emissions as much as possible, to industry-leading levels. The company's current priority target is to reduce total Scope 1 GHG emissions by 25% by 2030 from its 2020 baseline. Granite Construction has acknowledged that policy changes, including increasingly stringent emissions regulations, could increase project costs and potentially reduce demand for its services. The company has also recognized the physical, transition, and regulatory risks related to climate change that could have a material adverse impact on its business, financial condition, and results of operations. Granite Construction’s latest filings mentioned the keywords ‘Emissions’ and ‘Recycled’ most number of times in relation to ‘Climate Change’.
Granite Construction has reported its gross global Scope 1 emissions, percentage covered under emissions limiting regulations, and gross direct (Scope 1) GHG emissions. The company has disclosed its current carbon emission/GHG emissions (Scope 1, 2, and 3) and their trends compared to the previous year. In FY2022, the company’s Scope 1 emissions amounted to 205,993 mtCO2e, Scope 2 emissions amounted to 22,868 mtCO2e, and Scope 3 emissions from employee business travel amounted to 10,530 mtCO2e. The company has also reported air emissions of pollutants such as NOx, SOx, particulate matter, dioxins/furans, volatile organic compounds, polycyclic aromatic hydrocarbons, and heavy metals.
Granite Construction has taken steps such as assessing reporting improvements, assessing the reporting of products that reduce energy, water, and/or material impacts during usage and/or production, and assessing the impact of climate-related risks and opportunities on the organization's businesses, strategy, and financial planning. The company has also disclosed its plan to continue pursue zero-emission asset solutions for operations. Granite Construction has invested in reducing emissions and has prioritized reducing waste generated, hazardous waste, and potential biodiversity impacts. Granite invested approximately $6.1 million company-wide in projects aimed to reduce emissions and improve energy efficiency at plants in 2022.
In conclusion, Granite Construction has prioritized reducing greenhouse gas emissions by focusing its efforts on more fully assessing opportunities and building a decarbonization plan for reaching its priority target. The company has focused on implementing technologies that improve fuel economy and help decrease reliance on energy sources that emit GHGs.