The Forestry and YGG have signed a Memorandum of Understanding on the proposed cooperation regarding carbon sequestration forestry projects. Forestry manager says there is a great need for knowledge companies in this field in Iceland.
Yggdrasill Carbon ehf. (YGG) has in recent years been working on projects in the field of carbon bonding with a focus on actual carbon binding that is measurable and in accordance with recognized standards. The Company has three types of pilot projects under way in the field of forestry which are based on different standards which, in the opinion of the Company, already have or are likely to gain recognition at home and internationally. The company thus works on carbon sequestration through the Forest Carbon Standard of Forestry, but also cooperates with the international standards VERRA and Gold Standard. In addition to the focus on cooperation on forest carbon and other standards in the field of new forestry, Forestry and YGG are looking for ways to responsibly use carbon generated in older forests if and when opportunities arise. Then the parties aim for cooperation in the field of education and consulting so that the great interest that exists in certified carbon sequestration projects can be used for the benefit of Icelandic interests. The Managing Director of YGG is Björgvin Stefán Pétursson, who also employs experienced experts in the field of forestry, environmental education and land use.
Forestry is a powerful knowledge organization in the field of forestry and carbon sequestration that oversees and implements the laws on forests and forestry in Iceland and has, among other things, the task of guiding the protection, restoration, cultivation, treatment and sustainable use of forests, working with and encouraging participation in forestry, acquiring and disseminating information on forests and forestry and having an overview and monitoring of plans and projects in forestry. Forestry took the initiative to develop the Icelandic Forest Carbon Certification Standard a few years ago and has been working on its development.
Þröstur Eysteinsson, forestry manager, said it was a pleasure to sign this Memorandum of Understanding and thus formalize the cooperation of Forestry with YGG. “We have had a lot of interaction with YGG over the last few years, first the owners and now the last lost staff, and see that the company is focusing on long-term thinking and quality work practices. There is a great need for knowledge companies in this field in Iceland and the opportunities are exciting,” says Þröstur.
This is led by Björgvin Stefán Pétursson, Managing Director of YGG. We are very pleased with the development of the good cooperation that the company has had with Forestry and the powerful people who work for the organization all over the country. “YGG intends to be a leading company when it comes to carbon sequestration projects, whether in the field of land use, technological progress or otherwise,” says Björgvin. “Forestry occupies a very large niche there, as the opportunities in this field are great in Iceland and the side effects of such activities are generally very positive.”
