Landsvirkjun Named the Environmental Company of the Year 2023

“Landsvirkjun is a climate- and environmental leader. The Company’s measures and procedures reflect hard work and dedication; other companies could take a leaf out of Landsvirkjun’s book. Therefore, Landsvirkjun deserves the title the “Environmental Company of 2023”,” says the opinion of the selection committee, which awarded Landsvirkjun this year’s Environmental Awards.

The Federation of Icelandic Employers gives these awards annually, and this year, numerous nominations were received, demonstrating that environmental issues are an ever-growing part of Icelandic companies’ daily operations and decision-making, as noted in the selection committee's opinion.

The committee’s opinion further states, “Landsvirkjun utilises the country’s essential natural resources responsibly and respectfully. The focus is on knowing the environmental impact of operations, reducing them as much as possible, and avoiding deviation. The Company has worked with a certified environmental management system for almost 20 years and has exhibited vision and leadership when publishing and displaying environmental information and measures.

Landsvirkjun’s objective is to maximise the value of the renewable energy resources it is entrusted with sustainably and efficiently. Thereby, the Company has systematically introduced sustainable utilisation in operations, maximising efficiency, meanwhile reducing waste and emissions from operations.”

Jóna Bjarnadóttir, Executive Vice President of Community and Environment at Landsvirkjun, received the awards on behalf of the Company. She expressed gratitude for the honour that the Company was shown with the awards. “It is gratifying to receive this recognition for the comprehensive work on environmental- and climate issues at Landsvirkjun. The Company’s focus and objectives are clear and firmly followed through,” says Jóna.

The selection committee further points out that Landsvirkjun embraces its role and importance in the community and goes further than law and regulations stipulate. Landsvirkjun is focused on supporting the total value chain on its climate path.

“Landsvirkjun looks beyond its operations regarding reducing the community’s greenhouse gas emissions and the effect the Company can have on Iceland’s total emissions. Landsvirkjun was the first Icelandic company awarded the highest rating by the international organisation CDP for managing its climate impact. The Company has set a carbon neutrality target by 2025 and was one of the first companies in the country to announce its action plan publicly. Landsvirkjun has systematically worked on reducing the carbon intensity from electricity generation with an ambitious action plan with precise, quantitative, and scheduled objectives, accessible to everyone.”

Furthermore, the selection committee points out that Landsvirkjun has utilised outstanding success in environmental issues for financing by issuing green bonds, the first Icelandic company to do so.

“This initiative was duly noted in Iceland and internationally, and many Icelandic companies have followed Landvirkjun’s path by issuing green bonds.”