The International Carbon Registry (ICR) website's report confirms this. ICR has formalised its collaboration with Land and Forest Iceland on carbon project requirements; consequently, future work on methodologies for afforestation projects will utilise the Skógarkolefni Forest Carbon Code requirements and integrate within the ICR system. Furthermore, ICR is actively supporting the development of requirements for analogous wetland restoration projects.

The Álfabrekka project, now internationally Enviance-certified, encompasses 97 hectares of a newly created forest in the community Grímsnes- og Grafningshreppur in South Iceland, projected to sequester approximately 52,000 tonnes of carbon dioxide over the next 50 years. This certification validates the alignment of Icelandic climate projects with rigorous international standards, while simultaneously promoting sustainable land management and supporting the local community.

This report details the ongoing collaboration with Land and Forest Iceland to advance Skógarkolefni Forest Carbon requirements, adhering to ISO 14064-2 standards for carbon projects. ICR Director Guðmundur Sigbergsson notes this phase represents international recognition of the entrepreneurial achievements under the Skógarkolefni Forest Carbon label, initiated by Skógræktin (the former Icelandic Forest Service) in 2019.

This collaboration underscores the robust partnership between ICR and Land and Forest Iceland. Land and Forest Iceland's Director of Data, Communication, and Innovation, Gunnlaugur Guðjónsson, further emphasises that the Álfabrekka project demonstrates Icelandic projects' capacity to meet international standards and deliver quantifiable, transparent climate outcomes. He states that this marks a crucial step in integrating the Skógarkolefni Forest Carbon Code into the ICR system.

With the certification of the Álfabrekka project, Iceland has entered the global carbon market, paving the way for more climate projects that are covered by the ICR, “including innovative approaches such as wetlands restoration, which are already under development,” as stated in the ICR report. With the detailed review of the Álfabrekka project by Enviance Services, Pankaj Kumar, Managing Director of Enviance, stated that the project is confirmed to be in compliance with both the international standard ISO 14064-2:2019 and the Skógarkolefni Forest Carbon 2.0 requirements. This shows the ability of Icelandic forestry to make a real contribution to climate change.

Further information on the project Álfabrekka and the Icelandic carbon afforestation projects:

• www.skogalfar.is

• Skógálfar ICR