A socially responsible project of importance to us all
The fund was established in 2018 around a socially responsible project aimed at having companies, associations and individuals finance the restoration of wetlands in Iceland.
The Fund‘s primary objective is to contribute to the reclamation of wetlands and reduce greenhouse gas emissions in Iceland, as well as to promote the recovery of biosphere, birdlife and improving aquatic resources. It has been estimated that the length of the drained trenches in Iceland is about 34,000 kilometres. The main focus is on cooperation with farmers, landowners, municipalities and the Icelandic state to restore the areas not used for cultivation or forestry. The restoration of wetlands is a relatively fast and cheap way to reduce greenhouse gas emissions in Iceland.
Wetland restoration is a recognized means under the terms of the Intergovernmental Panel on Climate Change (IPCC). An assessment of the impact is carried out by experts of the Soil Conservation Service of Iceland and reviewed by the scientists of the Agricultural University of Iceland and the University of Iceland, after which they will be submitted to the IPCC.
The President of Iceland, Mr. Gudni Th. Jóhannesson, is the guardian of the project.
The fund works closely with organizations, associations, and companies, such as the Soil Conservation Service of Iceland, the University of Iceland, the Agricultural University of Iceland, the Research Center of the University of Iceland in South Iceland, the Icelandic Road and Coastal Administration, BirdLife Iceland, the Icelandic Environment Association, Klappir Inc., the East Iceland Nature Research Centre, and the Icelandic Institute of Natural History.
The founding members of the Icelandic Wetland Fund are the Soil Conservation Service of Iceland, Samskip, Skeljungur, Íslandsbanki, EFLA Consulting Engineers, Reitir, Auðlind – Nature Fund, Þekkingarmiðlun and Elding Whale Watching Reykjavík.
Potential to achieve great results
It is estimated that up to two–thirds of all greenhouse gas emissions in Iceland are from drained wetlands. Therefore, it is essential to start the reclamation of wetlands as soon as possible. This cannot be solely on the shoulders of landowners or farmers. Instead, it is the responsibility of the whole society. The Fund assists landowners in recovering wetlands not used for cultivation or forestry by financing restoration projects and, depending on circumstances, providing education, personnel or equipment.
The Icelandic Wetland Fund also offers the possibility of fostering wetlands. The Fund ensures that the restoration is carried out professionally and in accordance with approved methods and under the supervision of specialists of the Soil Conservation Service of Iceland. Volunteers monitor the positive effects of wetland restoration on birds, plants and other wildlife in selected areas. The Icelandic wetlands are significant nesting sites for many bird species.
Record restoration results
The Icelandic Wetland Fund, along with approved institutions in Iceland, confirms emission figures and results in the restoration of wetlands. Those who pay a certain amount to the Wetland Fund and those who restore a similar amount receive confirmation from the Wetland Fund about their social responsibility and can use the Wetland Fund logo for marketing purposes.
Reliability and transparency
PwC, the multi-professional services network, monitor the financial side to ensure that all contributions to the Icelandic Wetland Fund are used to restore wetlands following approved standards.