Remaining Well Below our Emissions Threshold

Greenhouse gas emissions from Landsvirkjun’s operations were 3.1 gCO₂e/kWh in the first half of 2024, an increase of 23% year over year. The increase is due to a surge in geothermal electricity generation. The hydropower stations’ reservoir levels were low during the period, resulting in the highest geothermal electricity generation in Landsvirkjun's history.

The Company’s emissions remained below the emissions threshold of 4 gCO₂e/kWh, the defined benchmark in our Climate and Environment Policy, and among the lowest in the energy sector. The EU defines hydropower and geothermal electricity generation as climate change mitigation when emissions are below 100 g per kWh.

Key figures in the semi-annual Climate Accounts 2024

Landsvirkjun’s GHG emissions for the first half were approximately 21,400 tCO₂e, an increase of 16% year on year. The carbon footprint, i.e., emissions less carbon sequestration, was 3,200 CO₂e. Net carbon intensity was 0.46 gCO₂e/kWh.

Landsvirkjun publishes the Climate Accounts annually. It includes statistical analyses of emissions from the company’s operations. We adhere to the Greenhouse Gas Protocol (GHGP) methodology, an international corporate standard for GHG emissions disclosure.

Since 2018, our Climate Accounts have been audited and verified by Bureau Veritas, an international audit firm. This ensures that the findings in our Climate Accounts accurately correspond with the emissions from our operations.