Íslandsbanki has today published its second Allocation and Impact Report for Íslandsbanki‘s Sustainable Financing Framework. The report gives an overview of the first full year of the Framework‘s implementation and reports on the estimated environmental and social impact of eligible assets already approved.
Sustainable lending more than doubled year-on-year and categories in use of the Sustainable Financing Framework rose from 7 to 11 out of the 18 categories defined. The biggest growth was in MSC certified fisheries and processing plants which now account for 34% of the total, while green and social lending account for 50% and 16%, respectively.
In line with the increase in sustainable lending, positive impact associated with Íslandsbanki‘s sustainable lending activities also grew. Avoided emissions, or the estimated reduction in emissions from financing a sustainable asset instead of a more carbon intensive asset, increased almost threefold between years, standing at around 16,800 tonnes of CO2e at year-end 2021. Clean vehicles in the loan portfolio also increased from 1,200 to 2,200 and green buildings grew from one to 16, to name a few.