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Governance

Carbfix is a part of the Reykjavik Energy Group (OR). OR provides Carbfix with support and services e.g. procurement, accounting, financial and risk management and analysis, legal services, communications and marketing, HR, IT and customer services.

Carbfix follows strategic corporate governance based on OR’s ownership strategy and the subsequent corporate strategy of OR. The Board of Directors (BoD) works in accordance with the company’s code of conduct and the working rules of the OR Group. The BoD appoints the CEO with responsibility for the company’s day-to-day operations. The function of the Internal Audit Division is to confirm that corporate governance, risk management and management supervision are cost-effective and efficient.

 

Our values

Carbfix upholds the same three values as OR, which provide the guiding principles for how we work and create our working environment and company culture. Our values are:

  • foresight – climate action through permanent mineral storage of CO2 involves long-term vision, goals and services
  • efficiency – vital for cost-effective day-to-day management and cost-effective implementation of CO2 mineral storage
  • integrity - key to a positive perception as well as effective and transparent engagement

 

Strategy

Carbfix has formulated an overall business strategy and key supporting policies which are based on OR’s corporate strategy:

Core operations: International consultancy and services on emissions reductions and permanent mineral storage of CO2 in basalts as well as further technology development.

Role: To ensure further development, implementation and scale-up of carbon capture and mineral storage with the goal of significantly reducing greenhouse gas emissions and combat climate change.

Vision: That the Carbfix technology and brand is recognized as a label of quality which plays a significant role in climate action.

Policy Emphases:

  • Global leader in providing services for environmentally friendly, economic and permanent CO2 disposal in rocks.
  • Efficient and cost-effective operations.
  • Effective and progressive research and innovation and efficient knowledge distribution.
  • Desirable, knowledge-based company with an ambitious and driven team.

Key supporting policies determine priorities in our activities and guide us in our decisions, conduct and implementation:

Code of conduct

Carbfix is a partner to The United Nations’ Global Compact through OR and requires its partners to adhere to its Ten Principles of responsible practices. The Ten Principles of the United Nations Global Compact are derived from: the Universal Declaration of Human Rights, the International Labor Organization’s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention Against Corruption. With reference to Carbfix’ purpose, Carbfix adds and particularly emphasizes the United Nations Framework Convention on Climate Change and requires partners to have implemented climate goals in line with the Paris Agreement and report regularly on their progress.

Certified management systems

Carbfix is certified for the following management systems: 

  • ISO 9001 – Quality Management
  • ISO 14001 – Environmental Management
  • ISO/IEC 27001 – Information Security Management 
  • ISO 45001 – Occupational Health and Safety Management 
  • ÍST 85 – Equal Pay Standard