In June 2020, the Icelandic Government launched its second version of the national Climate Action Plan, intended to boost efforts in cutting net emissions. Among new measures included in the Plan is the direct carbon capture of emissions from industrial processes, to be sequestered in the bedrock using the Carbfix method. The increased weight put on the Carbfix method reflects the authorities‘ confidence in the method becoming a key instrument in tackling climate change.

A memorandum of intent was signed in 2019, between the Icelandic government, Reykjavík Energy (parent company of Carbfix) and five of the largest industrial facilities in the country, stating that the parties would begin working towards the direct capturing of their carbon emissions in Iceland to be permanently stored in the bedrock using the Carbfix method. The project is wide-reaching and will span 5-10 years, with intense research and development ahead as to how best to adapt the technology already in use at the Hellisheiði Geothermal Power Plant to the aluminium and silica plants in question.

Further reflecting on the government’s faith in the Carbfix method is their effort in establishing the Carbfix method within the European Union’s Emissions Trading System (ETS), a cornerstone of the EU‘s policy to combat climate change.