Landsbankinn's CSR policy has come into effect. The objective is to have fully implemented the new policy by year-end 2015. During implementation of the policy Landsbankinn will launch numerous projects designed to integrate its objectives with the bank's operations. The first key projects have already been outlined.
Landsbankinn encourages employees to utilise environmentally friendly modes of transportation
Landsbankinn's employees are offered the opportunity to sign a Transportation Agreement with the bank. Its purpose is to encourage employees to use eco-friendly modes of transportation to travel to and from work, as well as when travelling for work purposes. The project was launched alongside the "Cycle to Work" campaign. All employees are encouraged to familiarise themselves with the Transportation Agreement.
Landsbankinn has offset its carbon emissions caused by international air travel and domestic company car use
Since 2010, Landsbankinn has offset emissions caused by company cars used for work purposes and the international air travel of its employees. In monetary terms, the offset amounted to ISK 480,000. The amount was paid to Kolvidur, the Iceland Carbon Fund. The Fund’s goal is to reduce the level of carbon dioxide in the atmosphere by sequestering carbon in vegetation and soil. In carbon-offsetting travel on its behalf, the bank takes direct responsibility for the emissions its operations cause.
In 2010, international flights on behalf of Landsbankinn numbered 259 and the bank's vehicles were driven 441,000 km. According to the Kolvidur's CO₂ calculator, the bank's cars emitted 0,27 kg/km per vehicle last year and air travel generated 121 tonnes of carbon dioxide.
The burning of fossil fuels is one of the main causes of increased greenhouse gas concentration in the Earth's atmosphere. One of the options to restore balance in the carbon cycle is to sequester carbon dioxide through forestry. Sequestering carbon from the atmosphere’s carbon dioxide through forestry releases oxygen.
For more information about Kolvidur, see the company's website
Nordic Ecolabel for Landsbankinn canteen
Landsbankinn has applied for the Nordic Ecolabel for its canteen at headquarters in Reykjavík. Extremely high requirements must be met to carry the Nordic Ecolabel and operations must meet a stringent criteria from the raw materials used to the treatment of waste. The aim is to reduce consumers' impact on the environment.
Paper use reduced by 20%
Emphasis will be placed on reducing paper use. Employees will be encouraged to utilise electronic alternatives and more stringent requirements will be set concerning eco-friendly paper.