Landsvirkjun’s future vision is to be a progressive, international energy company in the field of renewable energy. We want to be amongst the best in generating and selling energy.

Our values are prudence, progressiveness and reliability.


Landsvirkjun’s role

Landsvirkjun is a state-owned company and our role is to consistently endeavour to maximise the potential yield and value of the natural resources we have been entrusted with, in a sustainable, responsible and efficient manner.

Landsvirkjun's role is
to maximise the potential yield and value
of the natural resources it has been entrusted
with in a sustainable, responsible and efficient manner
Efficient electricity production and development
Operations are built on a solid infrastructure, characterised by efficiency, economy and effective risk management in operations and investments. This is reflected by the Company's certified management system designed to ensure that the Company fulfils declared overall plans and commitments.
A diverse client base
We create value by fulfilling the needs of our diverse client base. Our relationship with our clients is based on a solid foundation and regular, mutual communication.
Connecting with the European energy market
We see the European energy market as our competitive market. We strive to attract investment from energy intensive industries and services and take an active part in assessing the opportunities offered by connecting to the European electrical network.
Inspiring and promoting expertise and talent in the LV workforce
We guarantee our employees a good working environment that promotes safety, health, knowledge dissemination and the development of individual expertise and talent. We discuss the results of our performance fairly and openly and seek out ways to continuously improve our performance.
Encouraging unity & support from stakeholders via open and clear communication
We are committed to achieving widespread consensus on the balance between environmental, social and profitability issues in our operations. The Company wants to contribute to the sustainable development of society; it is a leader in environmental matters and is committed to social responsibility. The Company fulfils external requirements, government, laws and regulations, and other requirements made with regard to its operations.

The Company wishes to contribute to the sustainable development of society. It is a leader in the handling of environmental issues and is committed to its social responsibility.


Main policies


Social responsibility policies

Social responsibility is about creating value for our owners, treating the environment and all natural resources with respect and ensuring that knowledge dissemination and the positive effects of our operations reach society.

Landsvirkjun ensures that its policy on social responsibility is enforced by setting goals and by placing an emphasis on the following aspects in the operations of the Company:

  1. Landsvirkjun operates in accordance with responsible corporate governance standards.
  2. Landsvirkjun is committed to having a positive effect on its value chain.
  3. Landsvirkjun is committed to being at the forefront of environmental matters.
  4. Landsvirkjun endeavours to work in consensus with society.
  5. Landsvirkjun places an emphasis on leading the way in health and safety as well as in HR matters.
  6. Landsvirkjun shares its expertise to support innovation and to help the development of the economy and society.

More on social responsibility

Landsvirkjun is a member of the UN Global Compact which creates a global standard for social responsibility. We have committed to implementing the principles outlined by the UN in the areas of human rights, labour, the environment and anti-corruption.

More information can be found on the UN Global Compact website.


Environmental policy

Landsvirkjun’s operations have an inevitable impact on the environment and the Company has therefore developed a clear environmental policy. Landsvirkjun’s Environmental Policy is as follows:

Landsvirkjun is at the forefront of environmental issues and supports sustainable development within society. The Company is committed to acquiring knowledge on the environmental impact of its operations and to reducing any impact.

The Policy includes five policy targets which can be seen in the table below.

Work began on the quantitative targets of these policies this year with the exception of carbon neutrality and operations without environmental incidents.

More information on environmental matters

Better utilisation
of natural resources
  • The most efficient use of natural resources should be considered in the design process for new power projects and in any changes to power stations or their operation.
  • The development, design and operation of energy generation should be supported by the Hydropower Sustainability Assessment Protocol.
  • The Life Cycle Assessment (LCA) methodology should be used to improve efficiency in the utilisation of natural resources and to reduce any impact on the environment.
  • Green procurement measures should be used and environmental requirements should be set out in contracts with suppliers and service providers.
  • Waste should be sorted, reused and/or recycled.
Carbon neutral

Landsvirkjun should:

  • Consistently work towards reducing GHG emissions and implementing carbon sequestration measures via vegetation and soil.

  • Support energy exchange measures in transportation and follow the Company Transport Policy.

Operate in harmony with nature and
the physical landscape
  • Support and maintain natural diversity and minimise any disturbance.
  • Support the restoration of ecosystems and follow the Company Ecosystem Restoration Policy.
  • Follow Company policy pertaining to structure design and landscaping.

Landsvirkjun should:

  • Work in accordance with sustainable development protocols including active stakeholder engagement and active involvement in cooperative projects with stakeholders
  • Support open and constructive discussion and account for Landsvirkjun’s achievements in environmental matters
Operations without
environmental incident
  • Landsvirkjun's operations are certified according to the Environmental Management System ISO 14001.
  • Environmental aspects in operations should be defined, managed and monitored for success.
  • All legal requirements pertaining to environmental aspects should be fulfilled and more stringent requirements should be implemented where appropriate.
  • Preventive measures and improvements should be actively developed through research, by outlining objectives and via registration and processing recommendations.
  • Landsvirkjun’s employees and those working for the Company should have the appropriate knowledge and competence to implement the Company’s Environmental Policy.

Safety Policy

The Occupational Health and Safety Policy (ÖHV in Icelandic) is at the core of Landsvirkjun’s operations. Safety matters and appropriate employee facilities are a priority in Company operations. The Occupational Health and Safety Policy is interwoven with Company operations and various tools including standards, procedures and implementation documents are used to ensure adherence to the policy. Risk assessment is a key factor in identifying and assessing risk, improving employee conditions and reducing the risk of accident. Employee education and training on the policy is also an important factor.

No serious incidents in three years

There have been no serious accidents involving Landsvirkjun employees in the last three years. The Company follows a ‘zero accident policy’ with the goal of achieving no accident related absences in the workplace.


Landsvirkjun’s Management System

Landsvirkjun operates a management system that keeps track of Company policy and procedures by integrating the management of the Company at its headquarters and power stations into one coherent, cross-functional system. Landsvirkjun’s Management System is certified according to international standards and all employees are expected to adhere to the system.

Our policy objectives provide support in operations and in fulfilling our commitments to our clients, employees and other stakeholders as well as contributing to environmental protection matters. The objective is to ensure the reliability of operations in an efficient and secure manner as well as ensuring that both internal and external demands are met and to support continuous improvement via a systematic review and re-evaluation of the performance of the Company.