Denmark and Iceland Lead the charge towards a green transition
At the last day of COP26, Ambassador Kirsten Geelan in collaboration with Sigurður Hannesson, Managing Director of Federation of Icelandic Industries and Pétur Þ. Óskarsson, CEO at Business Iceland on how Denmark has committed to reduce its emissions by 70% by 2030 and Iceland aims to be carbon neutral in 2040 and how Danish and Icelandic companies can play a key role in our efforts to reach these reduction targets.
By Kirsten Geelan, Ambassador of Denmark to Iceland, Sigurður Hannesson, Managing Director of Federation of Icelandic Industries and Pétur Þ. Óskarsson, CEO at Business Iceland.
As world leaders meet in Glasgow for COP26, the findings from the latest report from the Intergovernmental Panel on Climate Change spell the urgency for immediate action to fight the challenges ahead. No country can fully realise the transition to a green future on its own. We must collaborate and learn from each other.
This is why His Royal Highness The Crown Prince of Denmark, The Danish Minister for Foreign Affairs and 10 companies from Denmark and Greenland, specialising in green tech and innovation, visited Iceland last month to share knowledge and to learn from Icelandic companies that have specialised in solutions for a green energy for the future. Our common vision for a sustainable future demand that we unite our ideas to move forward. This is exactly what Denmark and Iceland are doing, as the two countries lead the charge towards a green transition and showing as well how innovative solutions can pave the way to a sustainable future.
We must reduce emissions. We need all countries to set more ambitious emission reduction targets. If we fail, we will face higher temperatures, rising sea levels, more frequent and severe droughts, and more heatwaves and storms across the world. The Artic Region is already seeing glaciers melting faster than ever and in Iceland, mudslides are becoming a serious problem.
Denmark has committed to reduce its emissions by 70% by 2030 and Iceland aims to be carbon neutral in 2040. We believe that these goals are not only necessary, but also entirely possible. Danish and Icelandic companies will play a key role in our efforts to reach these reduction targets. The business sector presents the mind-set to change the world through innovation in green technologies. Danish and Icelandic businesses offer a variety of cutting-edge energy solutions, such as geothermal power, solar power, wind power, waterpower, district heating, bioenergy and hydropower. Not because they are required to, but because sustainability offers a good business model and goes hand in hand with a green transition in both our countries and for that matter - in the rest of the world.
We need to build houses and infrastructure that can survive extreme weather, plant new crops that can withstand the heat, improve weather forecasting to predict storms and floods. These opportunities create both revenue and jobs for local communities. At the same time, they contribute to the implementation of national and international climate goals.
Public-private partnerships are the key to a green transition. Successful partnerships between decision makers and an innovative private sector deliver solutions for the much-needed climate adaptation and we can see that in action in both State of Green (in Denmark) and Green by Iceland. Such a partnership is vital to frame the common tasks but different responsibility in the green transition.
Time is of the essence if we are to make a difference and secure a sustainable environment for future generations. The recent business delegation from Denmark visiting Iceland was a good first step. We look forward to seeing the initial contacts develop into a more continuous dialogue at the level of decision makers and amongst private sector companies to build an even stronger network and cooperation between Iceland and Denmark, with our shared and long history.