We intend to become carbon neutral in 2025.

We have prepared an action plan to achieve our target, based on comprehensive data on the Company’s carbon footprint. We intend to prevent new emissions and find new ways to reduce emissions and increase sequestration. Information on the Company's carbon emissions is published in our Climate Accounting.


Direct emissions 2019

We will become carbon neutral in 2025. We intend to reduce direct emissions from our operations by 50% by 2030 (when compared with the 2008 baseline). Direct emissions had already been reduced by 36% by year-end 2019, or 23.400 tonnes CO2 eq.

More information on our action plan on climate change


Carbon footprint 2019

Landsvirkjun's carbon footprint shows annual greenhouse gas emissions from the Company's operations, as well as organic carbon emissions from reservoirs, less estimated carbon sequestration.

Landsvirkjun’s net carbon footprint in 2019 was approx. 22 thousand tonnes CO2 –eq, which is equal to 1.6 CO2- eq/KWh or a decrease of 26% when compared with 2018. This can mostly be attributed to a good water year which resulted in less geothermal utilisation.

Landsvirkjun‘s total GHG emissions in 2019 amounted to 54 thousand tonnes CO2 –eq. Organic CO2 emissions from reservoirs amounted to 7.7 thousand tonnes. Landsvirkjun’s geothermal power stations produce 60% of the Company’s GHG emissions, whereas the reservoirs at the Company’s hydropower stations account for 31%.

Other emissions (fossil fuel consumption, SF6, the purchase of electricity, heating and use of fertiliser) amounted to 9%.

Carbon sequestration amounted to nearly 31,900 tonnes CO2-eq in 2019, or 59% of total company emissions.


Landsvirkjun's carbon footprint = greenhouse gas emissions * + organic CO2 emissions from reservoirs - carbon sequestration.


Landsvirkjun’s total emissions, sequestration and carbon footprint in 2019


Emissions by scope

Emissions are categorised as either direct or indirect emissions, according to where they occur within the value chain.

Direct emissions are categorised as emissions from equipment or resources that we either own or are responsible for. Indirect emissions arise from products and services purchased by Landsvirkjun.

Emissions are divided into three categories: Scope 1, Scope 2 and Scope 3. These categories are designed to prevent the double registration of emissions. The release of organic greenhouse gases is registered separately.

Scope 1

Most of Landsvirkjun’s emissions fall into Scope 1 and can be attributed to emissions from geothermal stations, hydropower reservoirs, fossil fuel consumption and leakage of the insulating agent SF6 from electrical equipment.

Geothermal emissions

Geothermal emissions decreased by 21% between years. This can mostly be attributed to a good water year, as most of Landsvirkjun’s reservoirs reached fill-point, thereby reducing the need for geothermal utilization. Emissions from the Krafla geothermal area have also decreased due to natural causes.

Emission levels from Landsvirkjun’s reservoirs increased by 17% between years. This can be attributed to a mild winter and more ice-free days, as greenhouse gases are not emitted when reservoirs are covered in ice.

Fuel consumption & SF6 emissions

Fossil fuel emissions decreased by 15% between years. This can mostly be attributed to the increased use of biodiesel in company vehicles. Landsvirkjun’s fossil fuel consumption has been reduced by 7% since 2018 and biodiesel consumption has increased by 24%. Emissions from SF6: from electrical equipment has decreased by 33% between years.

Scopes 2 & 3

Indirect emissions from ‘purchased electricity and heating’ (Scope 2) decreased by 25% between years. Other indirect emissions that can be traced to the value chain (Scope 3) decreased by 17%.

A more detailed account of Landsvirkjun’s emissions by scope can be found in the Company’s Climate Accounting.

Greenhouse gas emissions by Scope- 2019

Greenhouse gas emissions from Landsvirkjun's operations in 2019, defined by scope, were approx. 46 thousand tonnes of CO2 eq. Emissions were highest in Scope 1 (90%), followed by emissions in Scope 3 (10%). Scope 2 emissions were negligible.


Organic CO2 emissions

Organic CO2 emissions from reservoirs and the consumption of biodiesel amounted to 7.8 thousand tonnes in 2019.

CH4 and N2O emissions from reservoirs and the consumption of biodiesel are categorised as direct emissions (Scope 1) whereas CO2 emissions are considered natural carbon emissions and are therefore not included in calculations on total emissions. The organic CO2 emissions are accounted for separately and included in calculations on the Company‘s carbon footprint.


Carbon sequestration

Sequestration measures amounted to nearly 31,900 tonnes CO2-eq in 2019 or 59% of total company emissions. Carbon sequestration has increased by 2% since 2018 and 60% since 2008.

Landsvirkjun has been involved in land-reclamation and re-forestation for decades and has now also launched various wetland reclamation projects. Carbon sequestration has been the main focus of land reclamation projects in recent years and will continue to be important in the future. 

Landsvirkjun intends to sequester 60 thousand tonnes of CO2 eq by 2030, or three times the amount sequestered in 2008.


Green transformation

The proportion of clean energy vehicles at Landsvirkjun was 31% in 2019. Clean energy vehicles are electric, plug-in hybrid or methane. Landsvirkjun has gone above and beyond its initial target of replacing 25% of its fossil fuel vehicles by 2020.

Over 21% of our vehicles use electricity as their only fuel source. An additional 8% of our fleet is plug-in hybrid, and we also have a single hydrogen power car.


Climate Accounting 2019

Empirical analyses on environmental aspects are a powerful tool in environmental management.

Greenhouse gas calculations are based on the Greenhouse Gas Protocol, an internationally recognised standard. The Accounts reflect Landsvirkjun’s action on climate change.
The GRI Sustainability Report contains further information on Landsvirkjun’s environmental policy. Published research and monitoring reports are also available on our website and at gegnir.isWe have published an environmental report, outlining our objectives and performance, since 2006. The environmental report has been part of our Annual report since 2016.

More on environmental monitoring

Environmental reports: 2006-2015


Climate accounts

Here you can download Landsvirkjun's Climate accounts for 2019.

Climate accounts 2019.pdf
2.00 MB PDF File