G8 ESG Reporting

Promotes UN‘s
Sustainable Development Goals
Responsible consumption and production

In this integrated Annual Report for the OR Group, an account is given of the status and development of the sustainability factors that can be found in the ESG Reporting Guidelines of Nasdaq and the Chamber of Commerce, as well as factors that OR also considers important. OR therefore considers each year's Annual Report as the company's sustainability report.

This report is published alongside Reykjavík Energy's Consolidated Annual Financial Statements and both are published on the stock exchange. On the websites of the companies within the group, you can also find various information on environmental, financial and staff issues, which are updated more frequently than annually.

In addition to the Annual Report, OR submits a variety of data to public regulators in accordance with the operating licenses held by the companies in the group. There is the most extensive data on resource utilization for each year. By participating in various collaborations, OR also delivers public reports on various sustainability aspects of its operations. These include:

  • Impact Reports in connection with the issuance of green bonds
  • Reports to the Climate Disclosure Project
  • Interim reports on the Group's UN's SDGs, listed on sdgs.un.org/goals
  • Reports to the Global Compact

ESG risk assessment

Two rating companies evaluate the performance of Reykjavík Energy's ESG risks. Such an assessment is part of Moody's credit rating, and Icelandic investors have obtained the rating company Reitun to make such an assessment of the group's performance.

The result of Reitun's evaluation in 2022 was that "Orkuveita Reykjavík receives an excellent rating in Reitun's UFS evaluation with 86 points out of a possible 100, category A3."

There has been a continuous improvement in the overall rating of OR in Reitun's assessment since 2020. Between the years 2021 and 2022, ratings for environmental factors and governance factors increased, but decreased for social factors, and this can be attributed to increased employee turnover in 2021.

The 2022 evaluation report of Moody's is attached, but in 2022 only the previous assessment was confirmed by Moody's.