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Thursday, 29 October 2026 Icelandic stories. Global audience.
Business & Politics

Iceland businesses split on 2040 climate target as environment summit opens in Reykjavík

Gallup survey shows companies evenly divided over carbon neutrality goals. The Umhverfisdagur conference highlights unique challenges and innovations in Icelandic industry.

Coast Guard vessel moored in the harbour (Reykjavík)
Image: Diego Delso / Wikimedia Commons (CC BY-SA 4.0) · licence, original (resized) Illustrative image.

The 11th annual Umhverfisdagur atvinnulífsins conference began today at Hotel Reykjavík Grand, with a live broadcast highlighting the event’s theme: ‘Sérstaða Íslands’ (Iceland’s Distinctiveness). The event runs from 13:00 to 15:15 and spotlights how the country’s unique circumstances influence its push towards sustainability, according to Vísir and mbl.is.

A key focus of this year’s summit is the division among Icelandic companies over the national climate neutrality goal set for 2040. A Gallup survey commissioned by the Confederation of Icelandic Enterprise found businesses are almost evenly split between those supporting and opposing the target, mbl.is reported.

The annual event also nominates companies across different industries that have set clear targets and implemented practical measures to reduce their environmental impacts. This year, three companies received notable mentions, including Elkem Ísland.

Iceland’s business sector has developed around renewable energy, natural resources, and innovation, but faces distinct challenges linked to the nation’s small economic size, geographic location, and distance from major markets. These factors make Iceland’s approach to sustainability different from elsewhere in Europe, according to Vísir.

Background

Reykjavík, where the conference is held, is the capital and largest city of Iceland. It is located on the southern shore of Faxaflói bay in the southwest of the country, and was officially founded as a trading town in 1786. The city is governed by its municipal council and, as of 2026, has a population of about 140,000.

Sources

Image: Diego Delso / Wikimedia Commons (CC BY-SA 4.0) · licence, original (resized) Illustrative image.