The North East Sustainability project is a community project with the purpose of monitoring the sociological, environmental and economical changes in the area that has within the project been defined as the monitored area. The monitored area is the area in the North East that is considered to be influenced the most by the development and operation of Þeistareykir power station, the industrial development in Bakki and increased tourism. 

In the beginning, the following goals were made for the project:

• To capture the expectation and worries for the planned development and operations.
• To monitor the development of the community, environment and economy.
• To develop knowledge and a database leading to an improved decision making process. 

The fulfillment of these goals has been worked on since the reactivation of the project in 2014.

20 indices have been chosen to monitor the changes and the defined sphere of influence of the preceding factors. The indices were categorised into three main pillars of sustainability; community, environment and economy.  The indices' data will be published every 6 months to 6 years depending on the data. Numbers on labour market will be published most often, twice per year, but information on land use only every 6 years. The frequency of data publishing mostly depends on how often they are gathered by individuals or institutions. 

 Expectations for the project and the information from the monitoring, is that in the future it can be: 

• The source of research among scholars.
• The basis for policy formulation in the public sector.
• A field of study on all education levels.
• Source of information for inhabitants.
• Source of information for employers and entrepreneurs.

Responsible for the project are Landsvirkjun, Landsnet, PCC BakkiSilicon, Norðurþing, Skútustaðahreppur, Þingeyjarsveit, University of Akureyri Research Centre and tour operators in the North East. Húsavík Academic Centre (HAC) manages the project.