The Board of Directors of Reykjavik Energy Group reviewed the company's Procurement Policy in March 2020, resulting in further emphasis being placed on goals in the Sustainability Policy. Accordingly, Reykjavik Energy Group's Code of Conduct for Suppliers was issued, based on the Procurement Policy and the United Nations' Global Compact's ten basic principles, which the Group adheres to. Concurrently, work procedure was established, concerning reaction in case of information of nonconformity. Preparations for introduction of basic principles to suppliers is underway. Requirements, which are at least equivalent to the Code of Conduct for Suppliers, can be found in the terms of all calls for tenders by Reykjavik Energy Group. Therefore, sustainability obligations now apply to approximately 40% of the total procurement by the Group. However, 12% of suppliers provide these 40% of procurements. Reykjavik Energy Group's objective, by issuing the Code of Conduct for Suppliers, is that demands for sustainability in calls for tenders, will also pertain to smaller suppliers.

It is Reykjavik Energy Group's policy to have open calls for tenders, when purchasing goods, services, and construction projects, and choose the most favourable option. Alternatively, a restricted procedure will be made, entailing broad pricing inquiries, direct contracts or direct procurements. When weighing the cost effectiveness of a proffer, consideration is given to more factors than price only. These factors might include safety and environment issues. Furthermore, the tender documents include provisions to avoid doing business with companies known to have abused change of social security numbers, leaving a trail of financial irregularities.

Reykjavik Energy Group has laid down joint liability in its work contracts with regard to protecting the rights of employees of contractors and their sub-contractors. Evaluations of contractors are based on their performance on safety and environmental issues, as well as the quality of their work and reporting. If a contractor's performance is deemed unsatisfactory in the evaluation, business with them is halted, at least temporarily.

Reykjavik Energy Group has not screened its suppliers according to environmental indicators. The companies do not have means for assessment of potential or real risks posed by negative environmental impact of their supply chain or responses to those impacts. In 2020, the Group began to include provisions on carbon footprint of products in tender documents.

In 2020, there were no cases of bids being rejected on suspicion of an abusive change of social security number, or due to an unsatisfactory result in the evaluation of a contractor. In 2017, one bid for a project was halted in accordance with Reykjavik Energy Group's measures against abusive changing of a social security number.