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 42 is higher than 66% 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 2021, Reykjavik Energy (OR) reported total greenhouse gas emissions of approximately 48,600,000 kg CO2e, with 47,500,000 kg CO2e classified as Scope 1 emissions and 1,122,000 kg CO2e as Scope 3 emissions. The company has set ambitious climate commitments, aiming for net-zero 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 3 emissions by 40.0% by 2030, both from a 2016 baseline. Additionally, the company commits to sourcing 100% renewable electricity annually through 2030. Long-term, Reykjavik Energy aims to maintain a minimum of 90.1% reduction in Scope 1 and 2 emissions per TWh of energy produced from 2030 to 2040, while also reducing all remaining Scope 1, 2, and 3 emissions by 90.0% by 2040. These targets are aligned with the Science Based Targets initiative (SBTi) and reflect the company's commitment to sustainable energy practices. Reykjavik Energy's emissions data and climate targets are sourced from its parent organization, Orkuveita Reykjavíkur, ensuring a consistent approach to environmental accountability.
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| 2015 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Scope 1 | 49,900,000 | 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 |
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.
