This report covers the centralized review of the 2010 annual submission of Iceland, coordinated by the UNFCCC secretariat, in accordance with decision 22/CMP.1. The review took place from 6 to 11 September 2010 in Bonn, Germany, and was conducted by the following team of nominated experts from the UNFCCC roster of experts: generalists - Ms. Suvi Monni (Finland) and Mr. Dennis Rudov (Belarus); energy - Mr. Benon Bibbu (Malawi), Mr. Takeshi Enoki (Japan), Mr. Jongikhaya Witi (South Africa) and Mr. Alexander Zahar (Australia); industrial processes - Ms. Alice Au (Canada), Ms. Laura Elena Dawidowski (Argentina) and Ms. Natalya Parasyuk (Ukraine); agriculture - Ms. Yauheniya Bertosh (Belarus) and Mr. Donald Kamdonyo (Malawi); land use, land-use change and forestry (LULUCF) - Mr. Vladimir Korotkov (Russian Federation) and Ms. Naoko Tsukada (Japan); and waste - Ms. Mayra Rocha (Brazil) and Mr. Kai Skoglund (Finland). Ms. Monni and Mr. Witi were the lead reviewers. The review was coordinated by Mr. Javier Hanna and Ms. Inkar Kadyrzhanova (UNFCCC secretariat). In accordance with the "Guidelines for review under Article 8 of the Kyoto Protocol" (decision 22/CMP.1), a draft version of this report was communicated to the Government of Iceland, which provided comments that were considered and incorporated, as appropriate, into this final version of the report.