Environment
Waste-Free Society (Sustainable Development Goals 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, as well as 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 (Sustainable Development Goals 7 + 12 + 15)
Responsible utilization of renewable resources is the foundation of HS Orka’s long-term success. Active resource monitoring is essential to deepen our understanding of the resources our operations rely on. Through extensive research, we base our production decisions on the best possible data and in line with the company’s goals for sustainable and efficient resource utilization.
Climate Issues (Sustainable Development Goals 7 + 13)
HS Orka has set a goal of achieving carbon neutrality in its operations by 2040. Concurrently, there is an emphasis on targeted actions to reduce greenhouse gas emissions in the supply chain. In addition to the carbon neutrality goal, we have set a target for the company’s emission intensity to be a maximum of 26 gCO2-eq/kWh by 2030.
HS Orka aligns its climate goals with development projects aimed at emission reduction. 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 reinjection or sequestration of carbon dioxide into the ground are being explored. Furthermore, HS Orka is working, in collaboration with other stakeholders, to increase knowledge about the natural emission of carbon dioxide in geothermal areas to better understand the overall climate impact of its operations.
Energy Transition (Sustainable Development Goals 7 + 9 + 13)
The core activity of HS Orka involves utilizing renewable energy to produce hot water and electricity. Electricity production from renewable energy sources is a fundamental aspect of the energy transition both domestically and globally. We are actively working on developing current operations as well as advancing new projects to ensure sufficient energy for a more sustainable society in the future. We support the energy transition among developers and other suppliers, as well as customers, in line with HS Orka’s climate policy.
Biodiversity (Sustainable Development Goals 12 + 15)
We work 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 both to its ecological significance and the diverse economic values inherent in ecosystem services. HS Orka takes appropriate measures and effective mitigation actions, in line with the company’s operations, to protect the health and diversity of ecosystems.
Community
Human Resources and Equality (Sustainable Development Goal 5)
The values of HS Orka are responsibility, progressiveness, agility, and teamwork. These values guide all company operations and workplace culture. 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 (Sustainable Development Goal 12)
We aim to lead in safety culture and occupational health. We set clear and demanding goals and emphasize safety awareness and cooperation among all parties to ensure safety at the company’s operational sites. All safety deviations are clearly addressed, and procedures are regularly reviewed to ensure professionalism, reliability, and progress. Education, transparency, information sharing, and preventive measures are key to ensuring the effectiveness of safety rules among employees, contractors, and service providers.
Information and Communication (Sustainable Development Goal 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 (Sustainable Development Goals 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 (Sustainable Development Goals 5 + 7 + 9 + 12 + 13 + 15)
The main policy of HS Orka serves as a guiding light for the company’s overall operations. In addition, supporting policies are continuously developed to ensure the company meets external requirements and best practices. To ensure that HS Orka’s supporting policies serve their purpose and carry weight, they are regularly updated to align with the development of operations, requirements, and commitments, as well as to meet societal expectations. Updated policies are introduced to employees and published on the company’s website as appropriate.
Governance System (Sustainable Development Goal 12)
HS Orka’s governance system is called Gangverkið and is intended to ensure that the company operates according to clear and efficient processes across all areas of operation. We work according to the idea of continuous improvement and constantly seek ways to enhance procedures and oversight. We take pride in robust documentation of deviations and suggestions, ensuring they receive clear and proper handling. For all major processes of the company, risk factors are systematically identified, and measures are taken to minimize or eliminate them. To verify the quality of procedures and ensure accountability and credibility, we use appropriate quality certifications.
HS Orka’s Quality Certifications: ISO 9001, ISO 14001, ISO 45001, ÍST 85:2012
Procurement and Outsourced Services (Sustainable Development Goals 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 factors, 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 action if their operations do not meet our requirements.