Landsvirkjun has been recognized for leadership in corporate transparency and performance on climate change by global environmental non-profit CDP, securing a place on its annual ‘A List’.
Based on data reported through CDP’s 2022 Climate Change questionnaire, Landsvirkjun is one of a small number of companies that achieved an ‘A’ - out of more than 15,000 companies scored.
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2022, over 680 investors with over US$130 trillion in assets and 280 major purchasers with US$6.4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks, and opportunities through CDP’s platform. A record-breaking 18,700 companies responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are scored an F.
Hörður Arnarson, CEO, Landsvirkjun
“We at Landsvirkjun are resolute in actively contributing to the international fight against climate change, and it is encouraging to receive the CDP verification for the Company’s achievement. Landsvirkjun generates energy from renewables, it has set a goal to become carbon neutral by 2025, and decisive mitigation measures have been implemented to reduce emissions. Furthermore, Landsvirkjun’s environmental targets are reflected in the Company’s policy and in communication to the supply chain and other stakeholders. Landsvirkjun will continue to insist on high standards, as the Company is steadfast in being a leader in the fight against climate change globally.”
Maxfield Weiss, Executive Director, CDP Europe
“CDP saw nearly 20,000 companies disclose environmental data this year, including 70% of European companies by market value. COP27 showed the need for transformational change is more critical than ever if we are to limit warming to 1.5 °C. I’m therefore delighted that European companies make up nearly half of all A List companies around the world. We must cut emissions by half and eliminate deforestation by 2030, alongside achieving water security on the same timescale – there is no route to 1.5°C without nature.
With the EU’s ground-breaking new reporting regulation, the CSRD, now agreed, CDP A List companies are showing they are ahead of the game – taking clear action to reduce emissions and to address environmental impacts throughout their value chains. This is the type of environmental transparency and action we need economy-wide to prevent ecological collapse’’.