Bank Of Iceland

Bank of Iceland, a financial intermediation services provider based in Iceland, reported estimated total emissions of approximately 1,970,000 kg CO2e for 2025. This includes 2,000 kg CO2e from Scope 1, 46,000 kg CO2e from Scope 2, and 1,045,000 kg CO2e from Scope 3 emissions. Key contributors to Scope 3 emissions in 2025 were purchased goods and services (582,000 kg CO2e), employee commute (211,000 kg CO2e), and business travel (210,000 kg CO2e).

For 2024, the bank's total emissions were not explicitly calculated, but it reported 4,000 kg CO2e for Scope 1, 50,000 kg CO2e for Scope 2, and 950,000 kg CO2e for Scope 3. In 2023, the reported emissions included 19,000 kg CO2e for Scope 1, 71,000 kg CO2e for Scope 2, and 1,307,000 kg CO2e for Scope 3.

Bank of Iceland is committed to climate action, with a net-zero commitment recognised by the Science Based Targets initiative (SBTi) as of 2021. The bank has a near-term target to reduce greenhouse gas emissions from its own activities (Scope 1 and Scope 2) by 80% by 2030, using 2015 as the baseline. Remaining emissions are planned to be carbon offset.