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OrganisationsBank Of Iceland
Bank Of Iceland logo

Bank Of Iceland

Financial IntermediationIcelandICE: ISB
Last verified 6 months agoislandsbanki.is

Bank of Iceland, also known as Íslandsbanki, is a prominent financial institution headquartered in Reykjavik, IS. Established in 2008, the bank has rapidly evolved within the financial intermediation services sector, focusing on providing a range of banking solutions tailored to both individual and corporate clients.

Specialising in retail banking, corporate banking, and investment services, Íslandsbanki distinguishes itself through its commitment to innovation and customer-centric solutions. The bank has achieved significant milestones, including a strong market position in Iceland, recognised for its robust financial performance and sustainable practices.

With a diverse portfolio of products, including loans, savings accounts, and investment services, Bank of Iceland continues to play a vital role in the Icelandic economy, fostering growth and stability in the financial landscape.

80
DitchCarbon score

+43 vs industry average

Bank Of Iceland’s score of 80 is higher than 87% 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 – 2028

0.0M0.0M0.0M000.0K0

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202020212022202320242025202620272028

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.

Bank Of Iceland's reported carbon emissions

Bank of Iceland: Carbon Emissions and Climate Commitments

Bank of Iceland (IS) is committed to reducing its environmental impact within the financial intermediation services sector. The company has reported a total of approximately 1.1 million kg CO2e for 2025, encompassing Scope 1, 2, and 3 emissions. This figure is derived from a detailed breakdown including approximately 2,000 kg CO2e for Scope 1, approximately 46,000 kg CO2e for Scope 2 (location-based), and approximately 1.0 million kg CO2e for Scope 3.

For the year 2024, the total emissions were approximately 1.0 million kg CO2e, comprising approximately 4,000 kg CO2e for Scope 1, around 50,000 kg CO2e for Scope 2, and approximately 950,000 kg CO2e for Scope 3. In 2023, total emissions stood at approximately 1.4 million kg CO2e, with Scope 1 at approximately 19,000 kg CO2e, Scope 2 at approximately 71,000 kg CO2e (location-based), and Scope 3 at approximately 1.3 million kg CO2e.

The bank's climate strategy includes a commitment to reduce greenhouse gas emissions from its own operations (Scopes 1 & 2) by 80% by 2030, calculated from a 2015 baseline. Remaining emissions are intended to be offset. Bank of Iceland is also a committed member of the Banking on Climate Action (BCA) Net-Zero Banking Alliance, with a commitment to net-zero emissions by 2050.

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Bank Of Iceland’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%

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Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.

Scope 3 top emissions categories

4 of 15 categories disclosed
Purchased Goods & Services56%
Employee Commuting20%
Business Travel20%
Capital Goods4%
Purchased Goods & Services56%
Employee Commuting20%
Business Travel20%
Capital Goods4%

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Climate initiatives

SCIENCE BASED TARGETS

Science Based Targets Initiative

See details
Active
CDP

Carbon Disclosure Project

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Active
THE CLIMATE PLEDGE

The Climate Pledge

See details
Not active
United Nations Global Compact

UN Global Compact Climate Champions initiative

See details
Not active
RE 100

RE 100

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Not active
Climate Action 100+

Climate Action 100

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Not active

Emissions comparison with industry peers

View similar organisations
CompanyCountryIndustryLast updatedScoreDetails
Bank Of Iceland logoBank Of Iceland
ISFinancial Intermediation
6 months ago
80
Handelsbanken logoHandelsbanken
SEFinancial Intermediation
3 days ago
98
View
Nordea Bank logoNordea Bank
FIFinancial Intermediation
3 days ago
91
View
Danske Bank A Slash S logoDanske Bank A Slash S
DKFinancial Intermediation
3 days ago
88
View
DNB Group logoDNB Group
NOServices Auxiliary to Financial Intermediation
3 days ago
69
View
Swedbank logoSwedbank
SEFinancial Intermediation
3 days ago
59
View
Seaboard Corporation logoSeaboard Corporation
USBusiness Services
3 days ago
52
View

Frequently asked questions

Common questions about Bank Of Iceland’s sustainability data and climate commitments

In 2025, the Bank of Iceland's estimated total carbon emissions were approximately 1.97 million kg CO₂e. This figure includes roughly 2,000 kg from Scope 1, about 46,000 kg from Scope 2 (location-based), and nearly 1.05 million kg from Scope 3 activities. These emissions reflect the bank's environmental impact across its operations, with Scope 3 representing the largest share. The bank's efforts focus on reducing these emissions, especially from its indirect value chain, to align with its climate commitments and industry standards.

Data year: 2025

Usage policy

You’re welcome to quote or reference data from this page, but please include a visible link back to this URL. Bulk collection, resale, or redistribution of data from multiple profiles is not permitted.

See our License Agreement for more details.

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