Reykjavik Energy Or
Reykjavik Energy, also known as Orkuveita Reykjavikur, is a leading utility company headquartered in Reykjavik, Iceland. Established in 1999, the company has made significant strides in the energy sector, focusing on sustainable solutions for electricity, hot water, and geothermal energy. Operating primarily in the Greater Reykjavik area, Reykjavik Energy is renowned for its commitment to renewable energy sources, harnessing Iceland's abundant geothermal and hydroelectric resources. The company’s unique approach to energy production not only supports local communities but also positions it as a pioneer in the Nordic energy market. With a strong emphasis on innovation and environmental responsibility, Reykjavik Energy has achieved notable milestones, including advancements in energy efficiency and customer service. Its dedication to sustainability and community engagement solidifies its reputation as a trusted leader in the energy industry.
DitchCarbon Score
How does Reykjavik Energy Or's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Electricity from Other Sources industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Reykjavik Energy Or's score of 44 is higher than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Reykjavik Energy Or's reported carbon emissions
In 2022, Reykjavik Energy (OR) reported total greenhouse gas emissions of approximately 51,100,000 kg CO2e, with Scope 1 emissions accounting for about 49,200,000 kg CO2e and Scope 3 emissions at approximately 1,900,000 kg CO2e. The company has set ambitious climate commitments, aiming for net-zero greenhouse gas emissions across its value chain by 2040. For near-term targets, Reykjavik Energy plans to reduce its absolute Scope 1 emissions by 90.0% and Scope 1 emissions per TWh of energy produced by 90.1% by 2030, using 2016 as the base year. Additionally, the company aims to cut its absolute Scope 3 emissions by 40.0% by 2030 and reduce emissions from fuel and energy-related activities by 5% per MWh of sold electricity. Reykjavik Energy is committed to sourcing 100% renewable electricity annually through 2030. The long-term targets include maintaining a minimum of 90.1% reductions in Scope 1 and 2 emissions per TWh produced from 2030 to 2040 and achieving a 90.0% reduction in all remaining Scope 1, 2, and 3 emissions by 2040. All emissions data and targets are sourced from Orkuveita Reykjavíkur, the parent organization, ensuring consistency in reporting and commitment to climate action.
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| 2015 | 2016 | 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 49,900,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 18,800,000 | - | - | - | - | - | - |
| Scope 3 | 1,065,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Reykjavik Energy Or is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
