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 complies with all the statutory and regulatory provisions that apply to its activities.
The RE Group aims to reach carbon neutrality in 2030. The group fights and reacts to the impact of climate change on their operations. Each subsidiary operates according to its own goals and manages its own climate-related risk.
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.
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.
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.
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 with a low 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.
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.
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.
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: