Arion Bank publishes for the first time the calculated results of financed carbon emissions

One of Arion Bank’s sustainability targets for the year 2022 was to assess and disclose the financed emissions associated with the Bank’s loans and investments for the year 2021. We now publish our first report on financed emissions. The results give an overview of where opportunities lie for the Bank and its customers to reduce greenhouse gas (GHG) emissions in coming years and decades.

Arion Bank became a signatory to the Partnership for Carbon Accounting Financials (PCAF) in the autumn of 2021, a global partnership of financial institutions that work together to developed and implement a harmonized approach to assess and disclose the GHG emissions associated with their loans and investments.

By assessing the GHG emissions of its loan portfolio and investments, Arion Bank is seeking to facilitate target setting to reduce its GHG emissions. By doing so The Bank can contribute to Iceland’s efforts to meet its obligations under the Paris Climate Agreement and other domestic and international environment and climate treaties.

Arion Bank‘s financed emissions 2021