Memorandum to the carbon market working group

From the Surefni archive. This article records the announcement and context at the time of publication.

Aríel Jóhann Árnason published the memorandum Surefni had submitted to an Icelandic working group reviewing carbon markets. It welcomed greater government interest and distinguished voluntary carbon markets from compliance markets, explaining that Surefni’s experience and comments concerned the voluntary market.

The memorandum drew on work with Icelandic Standards on ÍST TS 92 and on carbon and plastic projects. It argued that voluntary markets could widen participation in climate action and direct finance to smaller projects, start-ups and sustainable industry. Plastic credits were presented as a possible financing tool for additional collection and recycling activity.

Its main policy argument was for clearer incentives for private organisations and individuals to address their emissions. Incentives, it proposed, should be linked to credible emissions calculations and certified outcomes, helping both buyers and project developers.

The memorandum also argued that a clearer public framework could improve confidence in projects and support access to finance during development. It connected this proposal to Iceland’s stated 2040 carbon neutrality ambition. This entry records Surefni’s policy position in October 2024; the proposals should not be read as enacted rules or current entitlements.