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As host of most of the world's most famous direct air capture (#DAC) operations, Iceland is in the international spotlight for carbon dioxide removals (#CDR). Blessed with a unique mix of cheap geothermal energy coupled with ample geological storage potential, this small country is playing a leading role in the scale-up of CDR globally.
What is the state of climate policy in Iceland?
🎯Iceland’s Long-Term Strategy (#LTS) sets a #netzero objective of 2040 at the latest. Iceland’s 2020 Climate Action Plan is the country’s main instrument to reach its Paris Agreement commitments, including its goals for emissions reductions by 2030.
🇨🇭Iceland has signed a Declaration of Intent with Switzerland to cooperate on CDR and carbon capture and storage (#CCS).
💼 Government and industry actors are supporting innovation in CDR, for example through a letter of intent to investigate the extent to which Carbfix’s mineralisation method can be scaled up in Iceland.
Which CDR technologies hold the most potential in Iceland?
🌳 Iceland’s LTS shows that the Land-Use, Land-Use Change and Forestry (#LULUCF) sector is currently a net emitter. This sector is therefore a priority in the LTS.
🏭 Carbon capture and storage (#CCS) will be important to decarbonise hard-to-abate industrial sectors. CCS is seen as a big economic opportunity for Iceland to leverage its storage capacities, geological conditions, and technologies.
☁️Direct air carbon capture and storage (#DACCS) is being supported by both private and state entities. The national power provider Landsvirkjun is involved in several CCS and DAC projects and Climeworks' Orca project is still the largest active DAC project in the world.
Overall, Iceland has everything needed to be a leader for CDR globally: broad political support across the three main parties, unique geological conditions, cheap renewable energy, ambitious climate targets, and an ever-growing ecosystem of innovative companies.
📢 Shout out to these companies and organisations leading amazing CDR work in Iceland in particular: Climeworks, Carbon Recycling International, Blue Lagoon Iceland, Green by Iceland, Running Tide, Carbon Iceland, International Carbon Registry, Carbfix, Icelandic Forest Service. And to some of the individuals pioneering CDR in Iceland: Christoph Gebald, Jan Wurzbacher, Björk Kristjánsdóttir, Marty Odlin, Gudmundur Sigbergsson, Edda Aradottir, Joel Sugars, Vivien Koutcheroff, Ingolfur Gudmundsson, Hordur Arnarson, Jóhanna Hlín Auðunsdóttir, Nott Thorberg.
What do you think about the state of CDR in Iceland? Where will we see the biggest shifts?
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