Bank Of Iceland
Bank of Iceland, officially known as Íslandsbanki, is a prominent financial institution headquartered in Reykjavík, IS. Established in 2008, it has rapidly evolved to become a key player in the Icelandic banking sector, offering a wide range of services across retail and corporate banking. With a strong focus on innovation, Íslandsbanki provides unique products such as digital banking solutions and sustainable financing options, catering to the diverse needs of its customers. The bank has achieved notable milestones, including recognition for its commitment to sustainability and customer service excellence. Operating primarily in Iceland, Íslandsbanki has solidified its market position through strategic initiatives and a customer-centric approach, making it a trusted choice for individuals and businesses alike.
DitchCarbon Score
How does Bank Of Iceland'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
Bank Of Iceland's score of 45 is higher than 58% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Bank Of Iceland's reported carbon emissions
In 2023, the Bank of Iceland reported total carbon emissions of approximately 1,407,000 kg CO2e. This figure includes 15,100 kg CO2e from Scope 1 emissions, 70,800 kg CO2e from Scope 2 emissions, and a significant 1,320,700 kg CO2e from Scope 3 emissions, which encompasses areas such as business travel and employee commuting. The bank has demonstrated a commitment to reducing its carbon footprint by setting long-term net-zero targets through the Science Based Targets initiative (SBTi). These targets aim for net-zero emissions across all scopes by 2050, with a commitment initiated in 2023. The bank is actively working towards these goals, reflecting its dedication to sustainability within the financial sector. In previous years, emissions were as follows: 2022 saw total emissions of about 920,000 kg CO2e, 2021 reported approximately 405,000 kg CO2e, and 2020 had emissions of around 502,000 kg CO2e. The data indicates fluctuations in emissions, particularly in Scope 3, which highlights the bank's ongoing challenges in managing indirect emissions associated with its operations. Overall, the Bank of Iceland is taking significant steps towards addressing climate change, aligning its operations with global sustainability standards and demonstrating a proactive approach to reducing its environmental impact.
Unlock detailed emissions data
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Add to project| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 9,100 | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 53,230 | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 3 | 277,480 | 000,000 | 000,000 | 000,000 | 0,000,000 |
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.
Bank Of Iceland 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.
