Landsvirkjun works systematically to reduce the environmental impact of its operations and we work hard to fully understand the impact of our operations on nature and society.

One aspect of this is monitoring utilisation and the potential impact of operations. The Company's green accounts show the results of monitoring in 2018 and a comparison with previous years.

The year’s carbon footprint can be seen below and we encourage readers to view all the results of the report (accessed at the bottom of the page).

Direct emissions from Landsvirkjun's electricity generation have decreased by 26% over the past 10 years

Emissions from the Company’s operations are calculated according to the international Greenhouse Gas Protocol.  Emissions are divided into three categories, depending on where they occur in the value chain. Scope 1 covers direct emissions from the Company's operations, Scopes 2 and 3 cover indirect emissions that arise from products and services purchased by Landsvirkjun and from the transmission of electricity to customers.

Carbon sequestration measures are disclosed separately and used in the calculation of our carbon footprint. The release of organic CO2 from reservoirs and the consumption of biofuels are specified separately.

Emissions by Scope

The Figure below shows the various categories used to calculate emissions by Scope.

Carbon footprint 2018

Landsvirkjun’s net carbon footprint in 2018 was approx. 28 thousand tonnes CO₂ –eq which is equal to 1.94g CO₂ eq/KWh.

Landsvirkjun‘s total GHG emissions in 2018 amounted to 53, 000 tonnes CO₂ –eq. Organic CO₂ emissions from reservoirs amounted to 6.5 thousand tonnes.

Landsvirkjun’s carbon footprint = total GHG emissions + organic

CO₂ emissions from reservoirs -carbon sequestration

Landsvirkjun’s geothermal power stations produce 77% of the Company’s GHG emissions. The reservoirs at the Company’s hydropower stations account for 14%. Landsvirkjun works in cooperation with Kolviður to implement carbon sequestration measures that offset fossil fuel consumption, landfill waste and employee air travel. Total sequestration measures offset 53% of emission from operations.

We divided emissions according to where they occurred within the value chain and found that almost 49 thousand tonnes of CO₂ eq or 93% of total emissions occur in Scope 1, which can be attributed to direct emissions from the Company's operations. Emissions resulting from goods and services purchased by Landsvirkjun and the transmission of electricity to customers in Scopes 2 and 3 amounted to approx. 4 thousand tonnes of CO₂ eq.

Scopes 2 and 3 – indirect emissions

The Figure above shows Landsvirkjun’s indirect emissions or emissions that occur within the value chain.

These emissions amounted to 4 thousand tonnes CO₂ -eq or approx. 7% of total emissions. The greatest quantity of emissions in Scope 3 was directly attributed to air travel, purchasing and fertiliser production.

Carbon sequestration

Landsvirkjun actively supports carbon sequestration with various re-forestation and land-reclamation projects. Sequestration measures amounted to nearly 31,300 tonnes CO₂ -eq in 2018, 90% of which was due to land-reclamation.

Carbon sequestration has increased by 9% since 2017.

Organic CO₂ emissions

Organic CO₂ emissions from reservoirs and the consumption of biodiesel amounted to 6,500 tonnes in 2018.

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 is 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.

No environmental incidents this year

Operations without environmental incidents

One of Landsvirkjun’s objectives is to operate without environmental incident.

Incidents have varied between years but there were no environmental incidents during Landsvirkjun’s operations in 2018. However, one of our contractors recorded a hydraulic leak during construction.