ICELAND CORBON FUND
We care about the nature and we want to take responsibility!
What is Kolviður – the Iceland Carbon Fund?
The Iceland Carbon Fund offers carbon sequestration through tree planting in order to reduce the concentration of carbon dioxide (CO₂) in the atmosphere and thus help to combat the impact of climate change.
Who is behind the Iceland Carbon Fund?
The Iceland Carbon Fund was founded by Skógræktarfélag Ísland (the Icelandic Forestry Association) and Landvernd (the Icelandic Environment Association), two of the largest and oldest environmental associations in Iceland. The Fund was launched in 2007.
What does the Iceland Carbon Fund do?
The money paid by the Iceland Carbon Fund customer goes toward tree planting and afforestation. The Fund makes notarised contracts for the lands it plants in to ensure that the forests stand sufficiently long to sequester the carbon.
How much carbon do the trees that the Iceland Carbon Fund plants sequester?
The Iceland Carbon Fund uses the benchmark of 10 tree sequestering 1 ton CO₂ per year. This benchmark is derived in collaboration with Skógræktin (the Iceland Forest Service) based on research on carbon sequestration in trees in Iceland. The Iceland Carbon Fund plants a certain composition of species – birch, pine, spruce, aspen and larch – and the benchmark is an average value, reflecting the composition.
Where does the Iceland Carbon Fund plant tree?
The first planting site was at Geitasandur in Rangárvellir. Planting has also been done at Úlfljótsvatn and plans are for planting sites all over Iceland.
Who monitors the Iceland Carbon Fund?
The Iceland Forest Service assesses the sequestration of the planting sites used by the Iceland Carbon Fund. The work is audited by KPMG Iceland and the Iceland Carbon Fund submits its financial statements to the Icelandic National Audit Office.
Read more about it at www.kolvidur.is