Icelandic company that permanently mineralises CO₂ by dissolving it in water and injecting it into basaltic rock, where it solidifies into stone within two years rather than millennia.
Green Score
- Greenwashing risk
- low
- Data confidence
- medium
- Method
- how it is calculated
Climate Impact & Solution35%88
Does the core business genuinely avoid or reduce emissions, or build climate resilience? Share of revenue that is actually 'green'. Fossil-dependent models score low.
Carbfix's core process permanently converts atmospheric and industrial CO₂ into stable carbonate minerals within two years, with research published in Science confirming >95% mineralisation; it currently injects ~12,000 tCO₂/yr at Hellisheiði and is scaling toward 36,000 t/yr with the Mammoth DAC plant, with the Silverstone project targeting near-zero geothermal power production — all of which constitutes genuine, measurable, durable carbon removal rather than avoidance accounting.
Decarbonization & Targets20%42
Credible, science-based targets (SBTi), a real net-zero plan with progress to date, and CDP disclosure — not just a dated press release.
No publicly confirmed SBTi-validated targets or CDP disclosure were found for Carbfix's own operational emissions; the company articulates a mission-level ambition to scale globally and contribute to climate recovery, but lacks the quantified, science-based near-term and net-zero corporate targets that institutional investors require for full credit.
ESG & Operations15%62
Operational footprint, labour and social practices, and governance quality across the company's own operations and supply chain.
Carbfix operates predominantly on renewable geothermal energy in Iceland, has a modest ~60-person workforce, and holds no identified labour or governance controversies; however, the process consumes ~25 tonnes of freshwater per tonne of CO₂ injected (a known operational footprint concern the company is actively researching via seawater substitution), and no standalone public sustainability or GRI report was identified.
Transparency & Verification15%68
Quality of disclosure, independent third-party verification, and how much hard data backs the company's claims.
Carbfix's methodology received first-of-kind DNV validation and is backed by over 100 peer-reviewed publications; the University of Edinburgh published an independent isotopic MRV study confirming successful mineralisation at Carbfix's site; however, no public annual sustainability report, quantified Scope 1/2/3 emissions inventory, or CDP questionnaire response was identified, limiting the overall disclosure score.
Integrity15%90
Controversies, litigation, pollution, fossil-fuel lobbying, conflict-zone involvement and governance scandals. Higher means cleaner.
No material controversies, litigation, pollution incidents, fossil-fuel lobbying ties, conflict-zone involvement, or governance scandals were identified in any source reviewed; Carbfix's founding and funding trail is publicly documented, its science is peer-reviewed, and it operates under EU regulatory frameworks.
Why it's on ClimateTicker
Carbfix is a genuine deep-decarbonisation infrastructure company whose core product — permanently mineralising CO₂ into stone inside basaltic rock — is one of the most durable and scientifically credible carbon removal pathways in existence, validated by peer-reviewed science and independently certified by DNV. The technology directly removes or sequesters CO₂ rather than merely offsetting it, giving it a materially higher integrity profile than most carbon-market players. The key honest caveat is that current injection volumes remain modest relative to global needs, SBTi/CDP disclosures for Carbfix's own operational footprint are not publicly confirmed, and the company is still scaling from pilot to commercial megaton-class operations.
Commitments & Certifications
Controversy & Greenwashing Watch
The process requires approximately 25 tonnes of freshwater per tonne of CO₂ injected, raising sustainability concerns about water use at scale, though Carbfix is actively researching seawater substitution.en.wikipedia.org
Despite operating as a climate company, Carbfix has no publicly identifiable SBTi-validated targets or CDP questionnaire response for its own operational footprint, a gap relative to investor-grade ESG disclosure standards.sciencebasedtargets.org
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