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Arion Bank, a prominent player in the financial intermediation services sector, is headquartered in Reykjavik, Iceland. Established in 2008, the bank has rapidly evolved to become a key provider of a wide range of financial services, including retail banking, corporate banking, and investment services.
With a strong focus on innovation and customer-centric solutions, Arion Bank offers unique products such as tailored loan options and comprehensive wealth management services. The bank's commitment to sustainability and digital transformation has positioned it as a leader in the Icelandic financial market.
Notable achievements include its robust growth trajectory and recognition for excellence in customer service, solidifying Arion Bank's reputation as a trusted financial partner in Iceland and beyond.
37
DitchCarbon score
0 vs industry average
Arion Bank’s score of 37 is higher than 52% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Very Low
Financial Intermediation is among the least carbon-intensive industries
Industry performance
0.096
20182025
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2027
20202021202220232024202520262027
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Arion Bank's reported carbon emissions
Arion Bank, a financial intermediation services provider based in Iceland, reported its 2024 carbon emissions. The company's Scope 1 emissions were approximately 1,030,070 kg CO2e, with Scope 2 emissions from purchased electricity at about 163,580 kg CO2e. Scope 3 emissions were approximately 14,269,660 kg CO2e.
Arion Bank has committed to significant climate action. The company aims for an 80% reduction in Scope 1 and Scope 2 emissions by 2030, using 2015 as a baseline, and plans to carbon offset any remaining emissions. Furthermore, Arion Bank is committed to achieving net-zero emissions from financed activities (Scope 3) by 2040, contributing to Iceland's goal of carbon neutrality by the same year. The bank's reduction targets for financed emissions are updated annually. Arion Bank is also committed to Science Based Targets initiative (SBTi) for its near-term and net-zero goals.
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Arion Bank’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
On track94%
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
At risk48%
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
Behind target22%
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives
Science Based Targets Initiative
See details
Active
Carbon Disclosure Project
See details
Not active
The Climate Pledge
See details
Not active
UN Global Compact Climate Champions initiative
See details
Not active
RE 100
See details
Not active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Arion Bank1 month ago
37
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Frequently asked questions
Common questions about Arion Bank’s sustainability data and climate commitments
Arion Bank reported its 2024 carbon emissions, with Scope 1 emissions at approximately 1,030,070 kg CO2e. Scope 2 emissions from purchased electricity were about 163,580 kg CO2e, and Scope 3 emissions totaled approximately 14,269,660 kg CO2e. These figures represent the bank's direct and indirect environmental impact from its operations and financed activities within the financial intermediation sector in Iceland.
Data year: 2024
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