Arion Bank

Arion Bank, based in Iceland and operating within financial intermediation services, has reported its carbon emissions and outlined several climate commitments. For the reporting year 2024, Arion Bank's total emissions were approximately 15,463,310 kg CO2e. This total is comprised of Scope 1 emissions of about 1,030,070 kg CO2e and Scope 2 emissions of approximately 163,580 kg CO2e. Scope 3 emissions for 2024 accounted for a significant portion, totalling approximately 14,269,660 kg CO2e.

Looking back at previous years, Arion Bank reported total emissions of about 156,300 metric tons CO2e in 2020. Scope 1 emissions in 2020 were approximately 37,500 kg CO2e, while Scope 2 emissions were around 100,500 kg CO2e. Scope 3 emissions in the same year were reported as approximately 350,630 kg CO2e. In 2019, total emissions were approximately 156,300 kg CO2e, with Scope 1 at roughly 65,000 kg CO2e, Scope 2 at around 91,300 kg CO2e, and Scope 3 at approximately 320,550 kg CO2e.

Arion Bank has established ambitious climate targets. The bank aims for an 80% reduction in emissions from its own activities (Scopes 1 and 2) by 2030, calculated from a 2015 baseline, with remaining emissions to be carbon offset. Furthermore, Arion Bank is committed to making Iceland carbon neutral by 2040, with a target to reduce financed emissions in high-impact sectors (Scope 3) in line with a net-zero goal by 2040. The bank also aims to reduce greenhouse gas emissions from its own activities (Scopes 1 & 2) by 80% compared to 2015, with remaining emissions to be carbon offset, as stated in their 2024 Annual and Sustainability Report.