Iceland

“The tar­get of at least 55% net reduc­tion by 2030 is inten­ded to be achieved through domest­ic meas­ures, in the con­text of act­ing jointly with the European Uni­on and its Mem­ber States and with Nor­way, without con­tri­bu­tion from inter­na­tion­al credits.”

Ice­land seeks to ful­fil the NDC through cli­mate action cooper­a­tion with the European Uni­on. Final account­ing towards the tar­get at the end of the NDC imple­ment­a­tion peri­od may depend on fur­ther arrange­ments under Iceland’s cooper­a­tion with the EU. Any use of inter­na­tion­ally trans­ferred mit­ig­a­tion out­comes will be included in Iceland’s account­ing, con­sist­ent with the approach used by the EU and accoun­ted for in a way that avoids double count­ing. This approach is yet to be fully defined and agreed upon by all involved parties. A decision on the use of vol­un­tary cooper­a­tion under Art­icle 6 of the Par­is Agree­ment is pending