Arion Bank
Arion Bank, a prominent financial institution based in Iceland, has established itself as a key player in the banking sector since its founding in 2008. Headquartered in Reykjavík, the bank operates primarily within the Icelandic market, offering a comprehensive range of services including retail banking, corporate banking, and investment services. With a commitment to innovation, Arion Bank provides unique financial solutions tailored to meet the diverse needs of its customers. The bank has achieved significant milestones, including the successful launch of digital banking services that enhance customer experience. Recognised for its strong market position, Arion Bank continues to uphold its reputation for reliability and customer-centric service in the competitive landscape of Icelandic finance.
DitchCarbon Score
How does Arion Bank's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Arion Bank's score of 27 is higher than 75% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Arion Bank's reported carbon emissions
In 2021, Arion Bank reported total carbon emissions of approximately 113,000 kg CO2e, comprising 30,400 kg CO2e from Scope 1, 82,600 kg CO2e from Scope 2, and 251,560 kg CO2e from Scope 3 emissions. The bank's emissions have shown a general trend of reduction over the years, with a notable decrease in Scope 1 emissions from 86,300 kg CO2e in 2015 to 30,400 kg CO2e in 2021. Arion Bank has committed to achieving net-zero emissions across all scopes by 2050, as part of its long-term climate strategy. This commitment aligns with the Science Based Targets initiative (SBTi), which the bank has officially joined. The bank's near-term targets are also classified as committed, indicating a proactive approach to reducing its carbon footprint. The bank's emissions intensity metrics reveal an ongoing effort to improve efficiency, with emissions per employee decreasing from 550 kg CO2e in 2018 to 540 kg CO2e in 2020. Arion Bank's climate commitments reflect its dedication to sustainability within the financial sector, particularly in Iceland, where it operates.
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| 2015 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Scope 1 | 86,300 | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 94,700 | 00,000 | 00,000 | 000,000 | 00,000 |
| Scope 3 | 271,850 | 000,000 | 000,000 | 000,000 | 000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Arion Bank is committed to some reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
