Kolviður – the Iceland Carbon Fund
The Iceland Carbon Fund (ICF) offers carbon offsets 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 the Iceland Forest Service Research Station Mógilsá, based on research on sequestration in Iceland. The work is audited by KPMG Iceland and the planting sites are reviewed by the Iceland Forest Service Research Station Mógilsá. The ICF also submits its financial statements to the Icelandic National Audit Office. Planting has thus far been carried out at Geitasandur in S-Iceland, Úlfljótsvatn in SW-Iceland and near Húsavík in N-Iceland.
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/
Kolviður – Iceland Carbon Fund
Tel: +354 551 8150
Bank 0301 Type 26 Account # 8228 ID 560606 1170