RARIK's Climate Action Plan
RARIK - Iceland State Electricity - has adopted a Climate Action Plan to reduce the emission of greenhouse gases from its operations. The goal is to halve emissions by 2030 compared to emissions in 2019.
SDGs related to the project
Project description
RARIK's strategy is to be a reliable and socially responsible company that is exemplary in environmental issues. A Climate Action Plan has been drawn up to systematically reduce the emission of greenhouse gases (GHG) from operations and to mitigate the impact that these emissions have. By doing so, the company contributes to achieving the common goals of the Paris Agreement. In defining RARIK's carbon footprint, the Greenhouse Gas Protocol standard (GGP) is used and emphasis is placed on reducing direct emissions of GHG in stages through infrastructure development and energy conversion. The remainder is offset by purchasing carbon emission units so that the company will be considered carbon neutral. Information about the success of these actions is regularly presented to the board and senior management, who also approve the changes needed to achieve the planned results. RARIK's Climate Action Plan is revised and republished annually and can be accessed on RARIK's website.
Objectives of the project
RARIK has set itself the goal of halving its carbon footprint by the year 2030, based on the scope of reference emissions of the year 2019, according to Scope 1 under the Greenhouse Gas Protocol (GGP) standard. In other words, emissions are to decrease from 2,348 tCO2e (tonnes (t) of carbon dioxide (CO2) equivalent (e)) to 1,103 tCO2e in 2030, with a 35% reduction in emissions already by 2025. Furthermore, to carbon offset all direct emissions in Scope 1 from the year 2020.
When is the target expected to be achieved?
In 2025, a reduction in carbon emissions of 35% compared to the benchmark emissions of 2019 In 2030, halving of carbon emissions compared to the benchmark emissions of 2019
Measurement of performance
RARIK's annual carbon emissions in tonnes of CO2e are monitored and this information is published in RARIK's annual report and on the company's website.