Our Carbon Intensity Remains Among the Lowest in the Energy Sector

Greenhouse gas emissions from Landsvirkjun’s operations in the first two quarters of 2022 were approximately 23,700 tonnes carbon dioxide equivalents, an increase of 12% year on year. Landsvirkjun’s carbon footprint was approximately 5,900 tonnes CO2e, an increase of 47% year on year. Carbon intensity was 3.3 gCO2e/kWh which is among the lowest in the energy sector and remains under the emissions threshold as defined in Landsvirkjun´s Climate and Environmental Policy.

Landsvirkjun’s emissions from fossil fuel combustion were reduced by 3% year on year. The Company will stop purchasing fossil fuel in 2030 and systematically replaces its vehicles and equipment with diesel or petrol engines with new ones fuelled by clean energy.

These facts are presented in Landsvirkjun’s semi-annual Climate Account for the first half of 2022. The publication of Landsvirkjun’s semi-annual Climate Account provides further information of the Company’s progress in executing its Climate Action Plan, and analyses how the Company is doing in meeting its ambitious targets of carbon neutrality and emissions reductions. Landsvirkjun’s semi-annual Climate Account provides insights on annual emissions, which are calculated at year end; inspected and verified by an independent certification body and published in Landsvirkjun’s annual Climate Account.

Increased emissions are mainly due to increased electricity generation at geothermal power stations, as emissions from geothermal energy are the single largest source of emissions in the Company’s operations. Low water levels in hydropower station’s reservoirs, as well as increased demand for electricity in the first two quarters of the year led to increased electricity generation from geothermal energy year on year.

These increased emissions will not affect Landsvirkjun’s target of carbon neutral operations by 2025. One of the actions towards achieving that goal is the project Koldís where Landsvirkjun will re-inject carbon dioxide from Þeistareykir geothermal power station to the geothermal reservoir and reduce CO2 emissions from Krafla geothermal power station by enhanced well management.