Arion Bank’s Impact and Allocation Report 2022

Arion Bank has published its second impact and allocation report in connection with its Green Financing Framework. The report explains the allocation of funds raised by green bond issues and green deposits in 2022 and sets out calculations of the positive environmental and climate impact of green projects.

In 2020 Arion Bank became the first Icelandic bank to launch a green deposits account designed for individuals, NGOs and companies wanting to contribute towards a more sustainable future. The response to Green Deposits has exceeded all expectations, and at the end of 2022 total deposits amounted to more than ISK 21 billion, up from ISK 8 billion at the end of 2021. The Bank has issued four green bonds under the Green Financing Framework, two of which were issued in 2022.

Deloitte has provided limited assurance on Arion Bank’s allocation of net proceeds from Green Financing Instruments and its allocation to loans for the year 2022.

Arion Bank’s Impact and Allocation Report 2022