Íslandsbanki’s performance in the area of sustainability continues to improve, according to Reitun. The Bank’s score for environmental practices has risen by 12.9% year-on-year.
Even though requirements have been tightened between years, Íslandsbanki earned the highest sustainability performance score Reitun gives to companies in Iceland. The Bank received a total of 90 ESG points in the assessment and an overall score of A3.
Reitun’s ESG assessment covers three broad areas: environmental, social, and governance practices. It gave Íslandsbanki the highest score for environmental practices, at 96 out of a possible 100, a YoY increase. In its comments, Reitun says that the higher score is due primarily to the fact that the Bank’s environmental accounting has been appraised by a chartered auditor and to the progress it has made in waste sorting and emissions from operations. In the social category, the Bank continues to perform well, with a score of 94 on a 100-point scale.
Birna Einarsdóttir, CEO of Íslandsbanki:
“Íslandsbanki’s strong performance in Reitun’s sustainability assessment reflects the Bank’s determination to be a model of exemplary operations in the Icelandic business community. Emphasis on sustainability is part of all procedures and work habits within the Bank, and employees and management alike are keenly aware of the need to perform well in this area. We care about the environment and continue to work towards our target of achieving full carbon neutrality by 2040.”
Ólafur Ásgeirsson, CEO of Reitun:
“Once again, Íslandsbanki’s performance on Reitun’s ESG assessment is outstanding. As before, the Bank received an overall rating of A and earned 90 points, the highest score given by Reitun to date. Íslandsbanki is exceptionally responsible in its commitment to sustainability, and its sustainability framework is exemplary. It has formulated a clear strategy and continues to make excellent progress in incorporating that strategy into its procedures and its employees’ mindset. Reitun congratulates Íslandsbanki on a job well done.”