ABSTRACT
This chapter provides Iceland profiles which includes key information about the relevant corporate sustainability and responsibility (CSR) history, country-specific issues, trends, research, education and leading organizations. The Icelandic economy has developed rapidly, with market liberalisation and diversification, from being largely dependent on fisheries to a multi-sector economy, including energy-intensive industries, tourism and financial services. Although the concept of CSR has received less attention in Iceland than in other Nordic countries, Icelandic companies operate in accordance with strict environmental and social standards in line with those of European Union countries. While CSR has become an important topic in Western Europe in years, little emphasis has been put on the concept of CSR in terms of voluntary corporate practices in Iceland to date. Iceland has an abundance of renewable energy resources, primarily in the form of geothermal and hydro power. Icelandic subsidiaries of large international companies, put noticeably more emphasis on voluntary CSR than companies solely operating in Iceland.
