Landsbankinn founding member of Iceland Sustainable Investment Forum
Iceland Sustainable Investment Forum (IcelandSIF) was established in Iceland on 13 November. The aim of IcelandSIF is to promote awareness and debate about the methods of sustainable and responsible investment. Landsbankinn is one of 23 founding members of IcelandSIF.
The founding members are financial undertakings, pension funds and insurance companies that invest on own account or on behalf of third parties that operate in Iceland and support the organisation's platform. Founding members include eleven pension funds, four banks, three insurance companies, four fund management companies and one asset management firm.
A forum for learning and discussion
IcelandSIF is intended to function as an independent forum for discussion and education about responsible and sustainable investment. The organisation will as such not take a position on questions of contention in the field. The Icelandic name of the organisation is Samtök um ábyrgar fjárfestingar.
The Board of Directors of IcelandSIF is comprised of Arnór Gunnarsson, Chief Investment Officer at VÍS, Davíð Rúdólfsson, Chief Investment Officer at Gildi Pension Fund, Hrefna Ösp Sigfinnsdóttir, Managing Director of Landsbankinn Markets, Jóhann Guðmundsson, Asset Manager with the Pension Fund of Commerce, Kristín Jóna Kristjánsdóttir, Portfolio Manager at IS Funds, and Kristján Geir Pétursson, Manager of Legal Affairs at Birta Pension Fund. Hrefna Ösp is Chairman of the Board of IcelandSIF and Davíð Rúdólfsson is Vice-chairman of the Board.
Sustainable investment is more profitable
In an interview published on Landsbankinn's content and news site Umræðan, Gil Friend, a world leading expert on CSR, states that having regard for environmental, social and governance factors can boost the profitability of corporate investment.
Clear policy on responsible investment
Landsbankinn has devised a clear policy on responsible investment. The policy has regard for the United Nations' Principles on Responsible Investment (UN PRI), of which Landsbankinn is a member. The policy reflects Landsbankinn's rules on, inter alia, risk appetite, large exposures and maximum aggregate risk, operational risk, reputational risk, liquidity risk and good corporate governance.
More about the Bank’s policy on sustainable investment (icelandic)
In the first three months of 2020, Landsbankinn's after-tax results were negative by ISK 3.6 billion, compared with an ISK 6.8 billion profit for the same period in 2019. Loan impairment amounted to ISK 5.2 billion in the period, compared with impairment of ISK 1 billion in the same period last year. More
S&P Global Ratings has today announced a lowering of Landsbankinn’s long-term credit rating. The credit rating is lowered by one notch, to BBB/A-2 with stable outlook.More
The Annual General Meeting of Landsbankinn was held on 22 April 2020 at the Bank’s headquarters in Austurstræti 11, Reykjavík. At the AGM, Helga Björk Eiríksdóttir, Chairman of the Board of Directors, presented the report of the Board of Directors, and Lilja Björk Einarsdóttir, CEO, spoke of the Bank’s solid standing and good performance in 2019.More