Corporate Social Responisbility

Landsbankinn’s policy on social responsibility is to contribute to sustainability in Iceland, to be a dynamic force in society and operate in accordance with the principles of good corporate governance. Landsbankinn places great emphasis on ensuring equal pay and equal job opportunities.

Responsible investment

Landsbankinn’s Policy on Responsible Investment has regard for UN PRI and rules on risk appetite, large exposures and maximum aggregate risk, operational risk, reputational risk, liquidity risk and guidelines on good corporate governance. Landsbankinn systematically gathers information about the operation of listed companies, with regard for sustainability and CSR. The long-term aim is to take the information into consideration in the assessment of investment objectives.

Responsible lending

The Board of Directors of Landsbankinn has approved sector policies for the following industries: fisheries and seafood, real estate companies, construction companies, holding companies, the travel industry, commerce, services, IT and telecommunications. All sector policies include guidelines on social responsibility that for the first time looks to the climate risk of customers. The Board of Directors has also approved general CSR guidelines that apply to corporate lending.

Equality

Landsbankinn makes a point of ensuring equal pay and job opportunities for all employees. The Bank has set itself the goal of ensuring at least 40% representation by both genders in the Bank’s management teams. Landsbankinn was the first Icelandic bank to be awarded the golden seal of PwC’s Equal Pay Audit in 2015 and received it again in 2016.

Environmental issues

Landsbankinn has reduced the use of non-renewable resources in its own operation, including the use of paper. The Bank’s canteen is certified with the Nordic Swan ecolabel, its vehicle fleet is eco-friendly and it offers a transportation agreement all employees are eligible to sign.

Support for the local community

Landsbankinn provides varied support for diverse community initiatives. Financial support is provided firstly through grants from the Bank’s Community Fund; scholarships, environmental and community grants.

Governance

Landsbankinn complies with recognised guidelines on corporate governance and publishes a Corporate Governance Statement annually. The Statement includes information on the Board of Directors and its sub-committees.

Participation in CSR collaborations