Landsbankinn Sustainability Profile
Landsbankinn, officially known as Landsbanki Íslands hf., is a prominent financial institution headquartered in Reykjavik, Iceland. Established in 1886, the bank has evolved significantly, becoming a key player in the Icelandic banking sector, with a strong presence across the country. Operating primarily in retail and corporate banking, Landsbankinn offers a diverse range of services, including personal banking, loans, investment solutions, and asset management. Its commitment to innovation and customer service sets it apart in a competitive market. Recognised for its stability and reliability, Landsbankinn has achieved notable milestones, including its successful recovery following the 2008 financial crisis. With a focus on sustainable banking practices, the bank continues to strengthen its market position, serving both individual and business clients with tailored financial solutions.
DitchCarbon Score
How does Landsbankinn'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
Landsbankinn's score of 47 is higher than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Landsbankinn's reported carbon emissions
In 2024, Landsbankinn reported total carbon emissions of approximately 879,100 kg CO2e, comprising 67,900 kg CO2e from Scope 1, 74,100 kg CO2e from Scope 2, and 731,100 kg CO2e from Scope 3 emissions. The Scope 3 emissions were significantly driven by business travel (218,500 kg CO2e) and employee commuting (256,700 kg CO2e). In 2023, the bank's emissions were slightly higher, totalling about 1,298,800 kg CO2e, with Scope 1 emissions at 50,200 kg CO2e, Scope 2 at 57,900 kg CO2e, and Scope 3 at 1,248,700 kg CO2e. The previous year, 2022, saw total emissions of around 1,366,900 kg CO2e, with similar trends in Scope emissions. Landsbankinn has set near-term targets aligned with the Science Based Targets initiative (SBTi), aiming for a 1.5°C pathway. These targets cover 41% of its total investment and lending portfolio, with a commitment to submit further targets by April 2024. The bank has not yet committed to a net-zero target. Overall, Landsbankinn is actively working to reduce its carbon footprint while addressing the significant contributions from its operational and commuting activities.
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| 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Scope 1 | 78,000 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 24,100 | 00,000 | 00,000 | 00,000 |
| Scope 3 | 1,651,800 | 000,000 | 0,000,000 | 000,000 |
How Carbon Intensive is Landsbankinn's Industry?
How Carbon Intensive is Landsbankinn's Location?
Landsbankinn's Scope 3 Categories Breakdown
Landsbankinn's Scope 3 emissions, which decreased by 41% last year and decreased by approximately 56% since 2021, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 35% of Scope 3 emissions.
Top Scope 3 Categories
Landsbankinn's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Landsbankinn has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Landsbankinn's sustainability data and climate commitments