Environmental and resource policy

The Environmental and Resources policy reflects OR and its subsidiaries’ commitment to continually improve in the field of environmental affairs. It serves as a guide to the company and forms the basis for good collaboration with stakeholders. The Environmental and Resources policy is founded on the values of the comprehensive policy of OR and its subsidiaries.

OR aims for carbon neutrality in 2030.

OR complies with all the statutory and regulatory provisions that apply to its activities.

The Environmental and Resources policy is established based on the following principles and implemented in detail through targeted management and improvements in significant environmental elements.

Responsible resource management

OR is entrusted with responsibility for the resources that it utilises. The responsibility entails working according to the ideology of sustainable development and therefore ensuring sustainable utilisation. This is so that future generations can enjoy the same opportunities as current generations to utilise the resources, and that it is possible to confirm OR’s commitment to that goal. OR undertakes to seek effective solutions in which the utilisation of resources for the public benefit is weighed and assessed in the context of other interests. OR shall protect the resources from threats and intrusions in line with the responsibility the company has been entrusted with.

Value of utility operations

Access to OR’s utilities promotes healthy living and opportunities for climate-friendly operations in the community. This positive environmental impact is a determining factor in decision-making regarding the development of power plants and utilities. Decisions are based on setting the bar high for quality, delivery security and efficiency, and it publishes detailed information on its activities and future plans.

Impact of emissions

OR’s operations inevitably result in substances and energy being released into the environment. OR takes the utmost precautions in its operations and aims for utilization and operations without footprint. Emissions are therefore only allowed to occur in a manner that has a negligible impact on health and an acceptable effect on the environment. OR strives to reduce the emission of greenhouse gasses and pollutants as much as possible and prioritise research and development to seek the best possible solutions for that purpose.

Impact on society

The OR Group is a big company in Iceland and its workforce possesses extensive knowledge and experience in the use of geothermal energy and other aspects of the company’s operations. The company passes on its know-how and influences the value chain, which encourages a responsible treatment of the environment and has a positive impact on the community.

Operations

OR’s operations are founded on the organised and disciplined working procedures of many employees in widespread work sites. Day-to-day tasks include, among other things, the responsible utilisation of energy, supplies, maintenance on constructions, tending to plot of land, handling waste responsibly and promoting climate-friendly transport. OR aims to run exemplary operations and to develop its personnel’s qualifications in this regard.

Significant environmental aspects

OR has defined the following environmental aspects as significant regarding the principles stated in the Environmental and Resource policy. OR sets goals regarding these environmental aspects and defines responsibilities:

Responsible resource management:

  • Managing production in high-temperature geothermal fields
  • Managing production in low-temperature geothermal fields
  • Developing areas by power plants and other premises
  • Conservation of potable water resources

Value of utility operations:

  • Access to a more diversified utilisation of high-temperature geothermal resources
  • Access to electricity utility
  • Access to hot water utility
  • Access to cold water utility
  • Access to sewerage system utility
  • Access to fibre network utility

Impact of emissions and discharge:

  • Discharge of disposal water and monitoring of groundwater
  • Hydrogen sulphide emissions
  • Greenhousegass emissions
  • Seismic activity induced by reinjection of disposal water
  • Discharge of wastewater from sewage treatment plants
  • Discharge of drainage through overflows

Impact on society:

  • Dissemination of knowledge on geothermal energy utilisation
  • and other aspects of operations
  • Procurement

Operations:

  • Waste
  • Transport
  • Structures and maintenance
  • Use of hazardous substance