Arion sustainabilty
The Arion Group plays an important social role and we are aware that our operations have far-reaching impacts.
The Arion Group plays an important social role and we are aware that our operations have far-reaching impacts.
We emphasise that sustainability is an integral part of our day-to-day operations, decision-making and processes. We act as a role model in responsible and profitable business practices that take into account the environment, the economy and the society in which we operate.
This includes placing emphasis on ensuring that Arion’s operations and the financial services we provide contribute to sustainable value creation and do not lead to unacceptable impacts on people or the
Each year, we publish an annual and sustainability report that includes coverage of environmental and climate issues, sustainable finance, human resources, stakeholder relations, and community engagement.
Arion Bank has published its Impact and Allocation Report for green financing for 2025. The report provides an overview of the allocation of funds to projects that meet the criteria for green financing under the Bank’s Sustainable Finance Framework and highlights the positive environmental and climate impacts of those projects.
Arion Bank has published its Annual and Sustainability Report and Pillar 3 Risk Disclosures for 2025. The reports are available on the Bank’s website. The Annual Financial Statements for 2025 were published on 11 February.
Arion Bank has received an outstanding rating in Reitun’s ESG risk assessment and is classified in category A3. This is the sixth consecutive year that Reitun has rated the bank among the leading companies in this field in Iceland.
On November 28th last, Arion Bank held a well-attended morning conference on sustainability at its headquarters, Borgartún 19, under the theme "Growing Demands & Increased Strength".
Arion Bank has published a report with updated climate targets for 2030 and a detailed description of how it intends to contribute to carbon neutrality. These include targets for its own operations, residential mortgages, and corporate loans in the industries with the highest emissions in the bank's loan portfolio, as well as specified loan categories in accordance with the Science Based Targets Initiative (SBTi) methodology.
Representatives of Arion received an award at a formal ceremony at Nauthóll last Friday, August 22nd, when eighteen Icelandic companies were granted the distinction of Model Company in Good Governance. The awards are presented by Stjórnvísi, the Iceland Chamber of Commerce, the Confederation of Icelandic Enterprise, and Nasdaq Iceland.
The companies span a diverse range of sectors, including financial and insurance services, telecommunications, leasing, asset management, and tourism. A full list of the award recipients can be found here.
"The Duel at the Nes" took place for the twenty-ninth time on the fourth of August last, at the Nes Club in Seltjarnarnes. It is an annual golf tournament in which many of the country's top golfers compete in support of a good cause.
Arion Bank has published a brief and accessible report summarizing the results achieved during the first year of the initiative Women Let's Invest.
Arion Bank has published its Impact and Allocation Report for the bank's green financing in 2024. The report provides an overview of allocations to projects that meet the requirements for green projects under the bank's sustainable finance framework, and highlights their positive environmental and climate impacts. The report features interesting examples of projects that Arion Bank has financed, demonstrating the ambition we hope to drive through the issuance of sustainable financial instruments.
To work in a startup, let alone found one, you need to possess enthusiasm and have passion for your projects. It also helps to get along well with your colleagues, be ready to put in a lot of effort, and work long hours. All of this can test your limits - but when things go well, few things are more rewarding.
Arion Bank became a member of UNEP FI (United Nations Environment Programme Finance Initiative) in 2019. In the same year, the Bank became one of the founding signatories of the United Nations Principles for Responsible Banking (PRB).
UNEP FI is a partnership between the United Nations Environment Programme and financial institutions, focusing on addressing environmental and social challenges within the financial sector.
The objective of the PRB is to align banking activities with international commitments and goals, such as the United Nations Sustainable Development Goals and the Paris Agreement.
Arion Bank and Stefnir are signatories to the United Nations Principles for Responsible Investment (UN PRI). The Principles aim to help investors understand the impact of environmental, social and governance (ESG) factors on investments and to support the integration of non-financial factors into investment decision-making.
The UN Global Compact is a United Nations initiative encouraging businesses worldwide to adopt responsible business practices with sustainability as a guiding principle. Companies are called upon to align their operations with ten principles of the Global Compact.
The ten principles are grouped into four areas: human rights, labour standards, the environment, and anti-corruption. Arion Bank has been a signatory to the UN Global Compact since 2016.
Since 2014, Arion Bank has been a signatory to the UN Women’s Empowerment Principles, developed jointly by UN Women and the UN Global Compact. The Principles are a global framework that companies and organisations can use to guide the implementation of responsible business practices, with a particular focus on gender equality.
At the end of 2023, Arion Bank committed to having its climate targets validated by the Science Based Targets initiative (SBTi). Validation by SBTi confirms that the targets are science-based and aligned with the objectives of the Paris Agreement.
More than 10,000 companies have had their targets approved by SBTi. Arion Bank aims to have its climate targets approved under the new standard for financial institutions in 2027.
In 2021, Arion Bank became a member of the Partnership for Carbon Accounting Financials (PCAF). PCAF is a global partnership of financial institutions that aims to harmonise the measurement and reporting of greenhouse gas emissions financed through lending and investment activities.
Arion Bank and Stefnir regularly disclose financed emissions calculated in accordance with the PCAF methodology and use the results to set targets for reducing emissions.
More information on Arion Bank’s financed emissions
Arion Bank has for many years been a member of Festa – the Icelandic Centre for Sustainability. Festa’s role is to promote knowledge and awareness of corporate social responsibility and sustainability among companies, institutions and organisations.
The Bank provides additional financial support to Festa and is therefore classified as a cornerstone member. Arion Bank also has representatives on Festa’s board and youth council.
Arion Bank has been an active participant in shaping and developing responsible investment practices in Iceland and was among the founding members of IcelandSIF in 2017, alongside Vörður and Stefnir.
IcelandSIF is an association of Icelandic investors aimed at promoting knowledge and dialogue on methodologies for sustainable and responsible investment. Arion Bank and Stefnir are represented on the board of the association.