Sustainable future
We all want to help create a better future and every contribution makes a difference.
Man-made climate change is one of the greatest challenges we are facing, and how we manage capital might have a decisive impact on the future.
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The sustainable journey
At Arion Bank we strive for continuous improvement, and we want the projects in which we are supporting our customers to have a positive impact on the environment and society. We have adopted an ambitious environment and climate policy and are committed to efforts to ensure that Iceland can meet its obligations under the Paris Climate Agreement and reach the government’s target of being carbon neutral by 2040.
Comprehensive financing framework
for a sustainable future
Arion Bank has published a Sustainable Financing Framework. It applies to the Bank’s funding, deposits and lending which is classified as environmentally and/or socially sustainable. The new framework replaces the Bank’s Green Financing Framework published in 2021 and which has been integral to the Bank’s green lending programme and green bond issues. New features of the latest financing framework include social categories which incorporate projects which have a positive impact on society. Added importance is also given to the circular economy, and the classification of green projects has also been refined from the previous framework..
Arion Bank’s Sustainable Financing Framework
COWI’s report on green mortgages
Report by ISS Corporate
Impact and Allocation Report 2022
Green financial services
for a sustainable future
We realize that the greatest impact that banks have on environmental and climate issues is through lending and investment, and we take this responsibility seriously. We are proud of our green journey, and our focus on environmental and climate issues is embodied in the Bank’s range of services and products.
The framework has received a second-party opinion from ISS Corporate, which evaluated the quality of the framework in terms of its contribution to the UN Sustainable Development Goals and the eligibility of projects according to the technical screening criteria of EU Taxonomy. Deutsche Bank advised Arion Bank on the creation of the sustainable financing framework. At the same time a report has been published containing updated methodology for calculating which kind of housing classifies as green. The report has been prepared by the engineering firm COWI on behalf of the Bank.
The Bank strives to provide a range of sustainable products and offers green mortgages, car loans, deposits and business loans. The new framework will be used to further product development in the sustainable banking sector and to issue sustainable bonds.