Kolviður – the Iceland Carbon Fund

The Iceland Carbon Fund (ICF) offers carbon sequestration through tree planting. The ICF was founded in 2007 by the Icelandic Forestry Association and the Icelandic Environment Association, but the ICF has its own independent board.

The concept of the ICF is based on sequestering carbon from the atmosphere through tree planting, as trees sequester carbon and release oxygen. The ICF encourages reducing carbon emissions as much as possible and offsetting unavoidable emissions through carbon sequestration. The overall goal is thus to sequester carbon in forests, in order to decrease the level of carbon dioxide in the atmosphere and combat soil erosion, to increase public awareness of carbon emissions and their impact and provide education on related topics.

Planting under the banner of the ICF is done in Iceland, in designated areas under a long-term contract with the ICF and carried out by local forestry associations or other contractors. The sequestration values used by the ICF are derived in collaboration with Land and Forest, based on research on sequestration in Iceland. The work is audited by KPMG Iceland and the planting sites are reviewed by Land and Forest. The ICF also submits its financial statements to the Icelandic National Audit Office. The ICF has received a ISO 14064-2 validation.

For one-off or small-scale carbon release, carbon offsetting through the ICF is done through a direct money transfer. For longer-term or greater carbon release the ICF usually signs a contract with the company/institution/individual in question. A contract template is available here.

Individuals can calculate their transportation related emissions on a calculator (Reiknivél) on the website – https://kolvidur.is/carbon-calculator/

Contact info:
Kolviður – Iceland Carbon Fund
Þórunnartún 6
105 Reykjavík

Tel: +354 551 8150
E-mail: [email protected]

Banking info:
Bank 0301  Type 26 Account # 8228   ID 560606  1170

IBAN: IS500301260082285606061170
Swift: ESJAISRE