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The world agrees that climate change is one of the most urgent issues of today

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In December 2015 one hundred and ninety-five countries reached a historical agreement to curb global greenhouse gas emissions at the Paris Climate Change Summit. The goal is to keep global warming well within 2°C and to endeavour to prevent it from exceeding 1.5°C if possible.

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Caring for Climate

Hörður Arnarson, Landsvirkjun’s CEO, attended the Paris conference and signed the “Caring for Climate” declaration. The declaration outlines the fact that climate change requires immediate and extensive action from the government, business community and worldwide citizens. Inaction could adversely affect prosperity, sustainable development and worldwide security. The business world would commit to increasing energy efficiency, reducing the carbon footprint of its products, services and processes, setting objectives and releasing annual reports on the success rate of these measures.

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Landsvirkjun's statement on the ‘Caring for Climate’ initiative outlines one of the Company’s policy objectives: To be a carbon neutral company by 2030.

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A plan has been developed to achieve this goal by outlining future emissions, potential emission reduction and carbon sequestration in vegetation and soil.

Climate change brings risk for companies of all sizes and in all sectors worldwide and is accompanied by the challenge of developing environmentally friendly technologies to counter the effects and to respond to the consequences. The development of technologies, the utilisation of renewable energy sources and the reduction of greenhouse gas emissions would play a large role in helping society adapt to the unavoidable threat of climate change.

Section #Landsvirkjun’sobjectives
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Landsvirkjun’s objectives

Landsvirkjun has kept Green Accounts, outlining its carbon emissions, since 2006.

Landsvirkjun also registered these intentions in Nazca (Non-State Actor Zone for Climate Action), an international forum in which companies, cities, regions, organisations and investors are given the opportunity to report their goals in the fight against climate change. 

Landsvirkjun’s NAZCA goals:

  • To be a carbon neutral company by 2030
  • To invest in renewable energy: geothermal, hydropower and wind power
  • To ensure that 25% of the Company’s vehicles are powered by electricity by 2020
  • To introduce various measures to reduce the impact on the climate including the initiative to create action plans on energy efficiency at the national level