Sustainability is a prerequisite for the welfare of HS Orka, and we emphasize being at the forefront of energy companies in this field. We set clear goals and implement methodologies that align with the best international standards while being appropriate for our operations. The sustainability policy is an umbrella policy that frames the company’s overall vision and focus on sustainability and provides an overview of related support policies.
ENVIRONMENT Zero Waste Society (UN SDGs 9 + 12)
HS Orka seeks all ways to eliminate waste in its operations. It is our priority that the energy harnessed is used sustainably and delivers diverse societal values. By fully utilizing resource streams and any by-products generated in our operations, we minimize waste and promote innovation and job creation. Within the Resource Park, we work to make the concepts of the circular economy a reality.
Responsible Resource Utilization (UN SDGs 7 + 12 + 15)
Responsible utilization of renewable resources is the foundation of HS Orka’s long-term success. Active resource monitoring is crucial for deepening our understanding of the resources our operations rely on. Through detailed research, we base production decisions on the best possible data, considering the company’s goals for sustainable and efficient resource use.
Climate Issues (UN SDGs 7 + 13)
HS Orka has set a goal of carbon neutrality for its operations by 2040. Concurrently, we focus on targeted actions to reduce greenhouse gas emissions in the supply chain. In addition to the carbon neutrality goal, we aim for the company’s emission intensity to be a maximum of 26 gCO2e/kWh by 2030.
HS Orka aligns its climate goals with development projects aimed at emission reductions. The main focus is on projects involving the utilization (CCU) of carbon dioxide from the company’s operations. Alongside the progress of such projects, solutions involving the re-injection or sequestration of carbon dioxide in the ground are explored. Furthermore, HS Orka works with other stakeholders to increase knowledge of natural carbon dioxide emissions in geothermal areas to better understand the overall climate impact of its operations.
Energy Transition (UN SDGs 7 + 9 + 13)
The core activity of HS Orka is to utilize renewable energy for the production of hot water and electricity. Electricity generation from renewable energy sources is fundamental to the energy transition both domestically and globally. We actively work on developing current operations and advancing new projects to ensure sufficient energy for a more sustainable society in the future. We support the energy transition among contractors and other suppliers, as well as customers, in line with HS Orka’s climate policy.
Biodiversity (UN SDGs 12 + 15)
We collaborate with the scientific community and enhance research and monitoring to measure and understand the impact of HS Orka’s operations on nature. We understand the value of biodiversity and its importance to society. This applies to both its ecological significance and the diverse economic values embedded in ecosystem services. HS Orka takes appropriate measures and effective mitigation actions, considering the company’s operations, to protect the health and diversity of ecosystems.
SOCIETY Human Resources and Equality (UN SDG 5)
HS Orka’s values are responsibility, progressiveness, agility, and teamwork. These values guide all company activities and the workplace. We set clear goals for success in equality, diversity, career development, and job satisfaction. HS Orka’s operations comply with the European Convention on Human Rights and the United Nations Universal Declaration of Human Rights.
Safety and Work Environment (UN SDG 12)
We aim to lead in safety culture and occupational health. We set clear and challenging goals and emphasize safety awareness and collaboration among all parties to ensure safety at the company’s sites. All deviations in safety matters are clearly handled, and procedures are regularly reviewed to ensure professionalism, reliability, and progress. Education, transparency, information sharing, and preventive measures are key factors to ensure the effectiveness of safety rules among employees, contractors, and service providers.
Information and Communication (UN SDG 12)
We strive to understand the expectations and attitudes of various stakeholders towards the company’s operations. This involves maintaining quality communication with the local community and the public, authorities and regulators, NGOs, and customers. By understanding the company’s operating environment, we improve decision-making quality and identify opportunities for progress. HS Orka regularly communicates information about governance and the company’s impact on the environment, society, and the economy.
Community Participation (UN SDGs 5 + 12)
HS Orka strives to have various positive impacts on the local communities of its power plants and to be a driving force for Icelandic society and the economy. The HS Orka Community Fund provides grants twice a year for socially positive projects, and the company also supports sports and youth organizations and other associations with long-term agreements. The HS Orka Research Fund supports academic projects and research to increase scientific knowledge about the environment and the external impacts of its operations and to promote progress.
GOVERNANCE Policies (UN SDGs 5 + 7 + 9 + 12 + 13 + 15)
HS Orka’s main policy is a guiding light for the company’s overall operations. In addition, support policies are continuously developed to ensure the company meets external requirements and best practices. To ensure that HS Orka’s support policies serve their purpose and have weight, they are regularly updated to align with the development of operations, requirements, and commitments, as well as societal expectations. Updated policies are introduced to employees and published on the company’s website as appropriate.
Management System (UN SDG 12)
HS Orka’s management system, called Gangverkið, is intended to ensure the company operates according to clear and efficient processes across all areas. We work according to the idea of continuous improvement and constantly seek ways to improve procedures and oversight. We are committed to robust recording of deviations and suggestions and ensure they are clearly and correctly handled. For all major company processes, risk factors are systematically analyzed, and measures are taken to minimize or eliminate them. To verify the quality of work practices and ensure accountability and credibility, we use appropriate quality certifications.
HS Orka’s Quality Certifications: ISO 9001, ISO 14001, ISO 45001, ÍST 85:2012
Supplies and Outsourced Services (UN SDGs 12 + 13)
In general, suppliers must meet the same requirements and ensure the same rights as apply to HS Orka employees. Accordingly, we set clear requirements regarding environmental issues, safety, social aspects, and governance. Requirements are made of suppliers and contractors in line with HS Orka’s Climate Policy and considering the company’s responsibility in human rights and occupational health. We conduct supplier evaluations of our key suppliers and take appropriate actions if their operations do not meet our requirements.