Terms of Business

General information

These terms apply to the sale of products by Súrefni kolefnisjöfnun ehf. to legal entities and individuals.

These terms, accepted through confirmation of a purchase, form the basis of the transaction.

The Terms of Business of Súrefni kolefnisjöfnun ehf. are also available in English.

1. Seller

The seller is Súrefni kolefnisjöfnun ehf., company identification number 410422-0850, Suðurhraun 10, 210 Garðabær (referred to in these terms as ‘Surefni’ or the ‘seller’). The VAT number is 144424.

2. Surefni’s projects

Surefni’s projects are varied, but they all share the objective of offering certified carbon credits used for responsible carbon offsetting in accordance with the requirements of ISO 14064 and ÍST TS 92 on responsible carbon offsetting.

3. Purchase of carbon credits

Legal entities may purchase carbon credits. Requests for advice on the purchase of carbon credits shall be directed to Surefni through the company’s website, https://www.surefni.is/. Prices are determined by Súrefni kolefnisjöfnun ehf., and a service fee is charged for certain services.

4. Orders

An order for carbon credits by subscription is binding when it is recorded on Surefni’s server or when the order is confirmed by email or telephone.

Surefni sends the buyer confirmation when the order is recorded, but only if the buyer has provided an email address at the time of purchase.

The binding effect of agreements for the purchase of carbon credits or entitlements to carbon credits is governed by the applicable agreement.

5. Subscription cancellation and the right of return and refund

Individuals and legal entities with a Surefni subscription may cancel their subscription with 90 days’ notice.

6. Pricing

The buyer of carbon credits becomes the owner of the credits and determines whether they are retired or transferred to another carbon credit account. Surefni does not, however, guarantee that the buyer already has access to a carbon credit account. If the buyer does not, they must obtain such an account themselves. Surefni may arrange the setup of such an account for a service fee. Surefni acts as an intermediary in the purchase and sale of other credits from other carbon registries.

7. Payment and place of payment

Subscription payments may be made by bank transfer, payment card or a debit to a customer account.

Where an agreement concerns the purchase of carbon credits or an entitlement to carbon credits, payment is governed by the provisions of the applicable agreement.

8. Certification

Corporate projects that sequester their own emissions through Surefni are placed in the most stringent certification process currently available in Iceland. Carbon sequestration is certified in cooperation with Skógræktin, a recognised certification body and Loftslagsskrá Íslands, depending on the individual project.

Súrefni kolefnisjöfnun may confirm companies’ carbon offsetting. For this purpose, Surefni accepts only reliable carbon footprint calculations, such as audited environmental accounts, a certified EPD calculation or equivalent.

9. Carbon credits

The carbon credits of Súrefni kolefnisjöfnun are varied. They may be credits based on the Skógarkolefni methodology, which involves carbon sequestration through afforestation, or credits originating from other projects abroad. Surefni is committed to brokering only reliable, certified carbon credits from reliable organisations such as Gold Standard, Verra and other comparable professional bodies.

One carbon credit represents evidence that the emission of one tonne of carbon dioxide equivalent into the atmosphere has been avoided compared with the unchanged situation.

Validation, certification and registration of carbon credits follow ISO 14064-2:2019, the technical specification on responsible carbon offsetting, ÍST TS 92:2022, and the requirements that Loftslagsskrá sets for the methodology used when registering the product sold. Carbon credits are certified by recognised certification bodies in accordance with the requirements of Loftslagsskrá Íslands, the best available data and carbon calculations at the relevant time.

Surefni’s projects are also certified by an international certification body, and the carbon credits are registered in Loftslagsskrá Íslands or a comparable climate registry.

10. Information

Surefni provides information on products to the best of its knowledge and in accordance with the latest research at the relevant time.

Surefni reserves the right to cancel all or part of a buyer’s subscription order if the product is found to be sold out. In these circumstances, Surefni will notify the buyer using the information provided.

11. Liability and exemption from liability

If new research and criteria concerning carbon offsetting lead to changes in the conditions for registration in Loftslagsskrá, Surefni is not liable if the extent of carbon offsetting under this agreement does not meet the new conditions and criteria.

Surefni does not guarantee that trees or parts of a forest damaged by uncontrollable external events, such as forest fires or other natural forces, will be replanted.

The buyer of carbon credits or other green products is not entitled to damages from Surefni if non-performance is caused by unexpected and uncontrollable events that did not exist when the agreement was concluded (force majeure).

12. Privacy and confidentiality

All personal information received by Surefni is treated as strictly confidential and is used only to complete the transaction.

The buyer may elect to receive offers by email. In that case, Surefni will use only the personal information necessary, such as email addresses, identification numbers, account numbers and the names of buyers or representatives of legal entities. The processing of personal information is governed by the Privacy Policy of Súrefni kolefnisjöfnun ehf. and Act No. 90/2018 on data protection and the processing of personal data.

All publication concerning purchases of products from Súrefni kolefnisjöfnun ehf. is anonymous unless the buyer agrees to publication of their name.

13. Ownership

Súrefnisskógurinn: all certified carbon credits created through planting become the property of the buyer.

Other projects: carbon credits whose sale is brokered by Súrefni kolefnisjöfnun ehf. become the sole property of the buyer.

14. Dispute resolution and jurisdiction

Agreements for the purchase of products from Súrefni kolefnisjöfnun ehf. are governed in all respects by Icelandic law.

Every effort shall be made to resolve all matters as simply as possible. Disputes that the parties cannot resolve between themselves and that are referred to the courts shall be brought before the District Court of Reykjavík.