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ISK 500 Million to New Climate Fund

A new government climate fund intended to support projects in the field of climate change was officially launched today. The fund was introduced in a presentation at the Nordic House, where Environment Minister Guðmundur Ingi Guðbrandsson addressed those attending. The fund’s starting budget amounts to ISK 140 million ($1.1 million/€1 million).

“In my opinion this is a happy day,” Guðmundur stated, adding that he hoped the fund would help make progress in the “biggest challenge of the 21st century.”

The fund is a new initiative to support innovative projects in the field of climate issues and informational and educational projects related to climate issues and the effects of climate change. The grants are intended to strengthen research and development work in connection to the implementation of new climate-friendly technologies and design solutions.

While the government’s 2019 and 2020 contributions to the fund will amount to ISK 140 million, the fund will amount to a total of ISK 500 million ($4.1 million/€3.7 million) over its first five years.

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