Landsbankinn’s ESG Report available online
Landsbankinn's ESG Report for 2019 is now available on the Bank's website. The Report contains detailed information about the Bank’s sustainability platform and its impact on the environment and society. Landsbankinn publishes an annual ESG report based on the principles of the Global Reporting Initiative (GRI). The Report endeavours to provide an insight into accomplishments and pin-point room for improvement.
This Report reviews equality at Landsbankinn, responsible investment, implementation of three of the UN’s Sustainable Development Goals in the operation and wide-reaching community projects the Bank participates in, including an international venture to develop carbon emission account methods for financial undertakings.
Lilja Björk Einarsdóttir, CEO of Landsbankinn:
“Clearly, the social and economic impact of the Covid-19 pandemic will be wide-reaching. Under such circumstances, the Bank’s main role is to serve and support its customers. At the same time, it is important to plan for the future. Landsbankinn’s ESG Report, published today, reviews the Bank’s sustainability platform in 2019. The Report provides information on the varied projects the Bank is engaged in under social responsibility, from ensuring equality in the workplace, implementation of the methodology of responsible investment and wide-reaching social projects. The importance of sustainability in corporate activity continues to grow and Landsbankinn intends to continue to lead in the field. This year, the Bank’s most important task will be to provide sound and effective financial service and support customers through challenging times.”
Landsbankinn is an active participant in the UN's Global Compact, UN PRI, a founding member of the Iceland Sustainable Investment Forum (IcelandSIF), as well as Festa, Centre for Corporate Social Responsibility. International rating agency Sustainalytics reviewed Landsbankinn for ESG risk and the Bank received an excellent score, ranking 6th out of 376 European banks assessed by Sustainalytics.
In September 2019, Landsbankinn signed the UN’s Principles for Responsible Banking and has since set goals presented in the Report. These goals involve assessing emissions from Landsbankinn’s credit and asset portfolios, developing green lending, and working to close the gender-based wage gap and boost gender equality in the labour market.
Landsbankinn’s ESG Report for 2019
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