Respecting the environment

Human-induced climate change is one of the main challenges facing humanity and environmental issues are priority for us at Arion Bank.

We seek to create a comprehensive overview of the environmental impact of our activities and to minimize the negative aspects. We have launched numerous projects aimed to lessen the environmental impact of the Bank’s activities and our digital services also serve to reduce our ecological footprint and that of our customers.

Our environmental targets

  • Optimize the sorting of waste produced by the Bank
  • Use energy sparingly
  • Environmentally friendly printing solutions with new technology
  • Encourage employees to adopt environmentally friendly practices at work and at home
  • Choose environmentally friendly products and/or services wherever possible
  • Increase the number of paperless transactions
  • Reduce waste

Our achievements in environmental issues

  • We have introduced environmental software to guarantee traceability
  • We publish information on environmental issues at the Bank in our environment report on an annual basis.
  • Some of our car fleet is now electric
  • We use environmentally friendly printing solutions and have reduced the amount of printing by 12% since 2015.
  • Improvements in waste management have resulted in 52% of waste being sorted in 2017, comparted with 43% in 2015.
  • By the end of 2017 1,000 conventional light bulbs had been replaced by LED bulbs, representing around 10% of the Bank’s lighting. 
  • We have introduced compostable containers, e.g. coffee cups and glasses.
  • We have made a concerted effort to reduce food waste at the headquarters, resulting in a 17% decrease between 2016 and 2017.
  • We have distributed multi-use shopping bags to our customers and employees.
  • We have significantly reduced our use of non-disposable plastic through measures such as improving processes in the canteen at headquarters and by introducing water coolers and multi-use glass bottles.
  • The Bank’s carbon footprint decreased by 12% between 2016 and 2017.

Environmental report

Arion Bank signed the City of Reykjavík and Festa’s Declaration on Climate Change on 16 November 2015. The declaration fits in well the Bank’s objectives concerning the environment. By signing the declaration Arion Bank committed itself to the following:

  • Reduce emissions of greenhouse gases
  • Reduce waste
  • Measure what has been achieved and regularly report on the above factors

An important step was taken when we introduced environmental software from the innovation company Klappir. Since 2016 our annual reports have included special environmental reports. The reports set out our environmental objectives and action plans to reduce our environmental impact. We are working in close accordance with our action plans to achieve set objectives and we have met with success in this respect.


Environmental report for 2017