First tree planting at Geitasandur for the Iceland Carbon Fund
On June 14, 2007, the first trees were planted in the inaugural Kolviðarskógur – Iceland Carbon Fund Forest, at Geitasandur in the south of Iceland. The planting marks a milestone, as this is the first forest in Iceland specifically planted to sequester carbon and thus help to combat the growing challenge of climate change.
Participating in the planting were representatives of the fund’s sponsors – Ingólfur Helgason, president of Kaupthing Bank, Einar K. Guðfinnson, Minister of Agriculture, on behalf of the government of Iceland, and Brynjar Stefánsson of Reykjavík, as well as the board of the Iceland Carbon Fund and other representatives.
On this occasion Guðfinna S. Bjarnadóttir, chairman of the board of the Iceland Carbon Fund, and Sigríður Heiðmundardóttir, chairman of the Rangæingar Forestry Associations, sealed a contract between the fund and the forestry association with a handshake, but the forestry association will supervise the plantings at Geitasandur.
The planting in this first round consists of around 50.000 plants and the plan is to use up to six different tree species. Using a number of different species will increase the diversity of the prospective forest and make it more attractive for recreation and more resilient to stress factors, like pests or extreme weather events. This resilience is also an important distribution of risk for the future, as carbon sequestration in the Forest is a long-term commitment. The carbon sequestration in the Iceland Carbon Fund Forest will be evaluated by experts every five years. KPMG Iceland is responsible for the certification and auditing of the overall offset process.
The website of the Iceland Carbon Fund – www.kolvidur.is – was launched last May. On the website companies and individuals can offset their transportation-related emissions and numerous companies and individuals have already offset their vehicles for this year. Plans are also underway to enable offsetting flights with the major airlines flying to Iceland, allowing travellers to make a contribution to actions combating climate change.
Go back
