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 guide how we work and create our working environment and company culture. Our values are:

• Initiative reflects our commitment to driving positive change.

• Foresight primarily revolves around Reykjavik Energy's function, since utility management is by its nature quite a long-term issue and residents’ needs for the services of utility companies remain ever-present.

• Efficiency is vital for cost-effective day-to-day management so that customers can obtain services at a fair price.

• Integrity is about how employees are perceived by customers and by each other, how they work and guarantee transparency in management.

Corporate strategy

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

Core Business: Permanent CO2 mineral storage in underground rock formations worldwide through project development and operation, technical development, and consulting

Role: To combat climate change with scaling and further development of underground CO2 mineral storage

Vision: The Carbfix technology plays an important role in the fight against climate change and the brand is a recognized seal of quality

Policy Emphases

• At the forefront of environmentally friendly, cost-effective, and permanent CO2 mineral storage.

• Solid financial standing.

• Successful and progressive innovation and efficient dissemination of knowledge

• An attractive climate tech company with an ambitious and driven team that cares for one another.

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