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Landsbankinn and Landsbréf Take the Next Step in their Introduction of Reponsible Investing

- Agreement concluded with Reitun for ESG rating

Reitun ehf., Landsbankinn and Landsbréf have signed a service level agreement providing for Landsbankinn and Landsbréf to obtain ESG ratings for issuers of equities and bonds in portfolios under management by the latter two companies.

Landsbankinn and Landsbréf have adopted an ambitious strategy for responsible investment. This means taking into account environmental and social factors as well as corporate governance (ESG) in investment decisions. The objective is to reduce risk and deliver sustainable long-term returns.

This agreement takes the next step in introducing procedures for responsible investing, continuing along the path which the Bank and its subsidiary Landsbréf have set for themselves in recent years.

ESG rating has been a collaborative project of Reitun, Klappir Green Solutions and Þröstur Olaf Sigurjónsson, associate professor at the University of Iceland, aimed at developing and providing ESG ratings for the domestic market. Use of such ratings abroad for investment decisions has been growing strongly and domestic investors are rapidly adopting them. An ESG rating assesses how companies perform with regard to environmental aspects, sustainability and governance, showing their strengths and weaknesses, with a quantitative rating enabling their comparison with others. Reitun's services in providing ESG ratings will be based on digital solutions as well as traditional analytics.

Ólafur Ásgeirsson, founder and owner of Reitun ehf., is highly pleased with the agreement and the positive step Landsbankinn and Landsbréf are now taking together with Reitun. “We have long since felt there was a need for a service like this in the domestic market and look forward to the partnership. We’ll do our best to see to it that the bank and Landsbréf achieve their objectives with this agreement.”

Hrefna Ösp Sigfinnsdóttir, Managing Director of Markets at Landsbankinn, and Helgi Þór Arason, Managing Director of Landsbréf, say the agreement is a key step in the strategy that has been defined for responsible investment. “We adopted an ambitious strategy for responsible investment as early as 2013 and have since implemented this policy in our investment decisions. This service agreement is intended to make that work more efficient and objective, based on the latest criteria in each instance.”

News and Notifications - 18 November 2019 10:17 AM

Landsbankinn receives positive review in CSR from Sustainalytics

Landsbankinn has received an ESG risk rating from Sustainalytics, reflecting an in-depth assessment of company risk exposure to material ESG issues. Landsbankinn received an excellent score.


News and Notifications - 15 November 2019 08:21 AM

Landsbankinn changes interest rates

Fixed rates on non-indexed 36-month housing loans decrease by 0.20 percentage points (pp) and fixed rates on non-indexed 60-month housing loans remain unchanged. Variable rates on non-indexed housing loans decrease by 0.15 pp and other variable rates on non-indexed loans decrease by 0.10-0.25 pp in general.


Weekly bulletin - 18 November 2019 08:43 AM

Icelandic Economic Weekly: Monday 18 November 2019

IMF issued a Staff Concluding Statement for the 2019 Article IV Mission to Iceland. The number of foreign passenger from Iceland via Keflavik airport decreased by 18.4% YoY in October. Moody’s upgraded Landsvirkjun's credit rating. The Government Debt Management Agency published its monthly Market Information report.