Declaration of intent

Investments for sustainable development


On September 25, 2020, Katrín Jakobsdóttir, the Prime Minister, on behalf of the government, and the parties representing close to 80% of the assets on the Icelandic financial market, signed the "Declaration of Intent on Investments in the Interest of Sustainable Development". Festa - a center for social responsibility and sustainability, the Financial Associations (SFF), the National Association of Pension Funds (LL) and the Prime Minister's Office worked on its formulation in broad consultation with representatives of the main players in the financial market. The parties that signed the declaration of intent are: the Government of Iceland, banks, savings banks, deposit institutions, insurance companies, pension funds and investment funds. The declaration of intent is a unique coordinated initiative of private parties in the financial market and governments in an international context. With the declaration of intent, light is shed on how investments, budgets and lending activities are developing towards greater sustainability and social responsibility, and which criteria are used as a guide. The widespread impact of COVID-19 further underscores the importance of considering sustainability in the reconstruction efforts ahead. Below you can access the declaration of intent in full (in Icelandic and English). By pressing the upper yellow button, you can access the list of signatories and the declaration in pdf format. We encourage interested people who work in the fields of investments, lending and/or budgeting to familiarize themselves with participation.

Viljayfirlýsing - Fjárfestingar í þágu sjálfbærrar uppbyggingar


Capital is an important driving force in shaping business and economic life and society as a whole. Its correct use determines a lot about the competitiveness of nations and the future of future generations. Investors, financial companies, institutions and governments therefore play an important role in shaping the economy and societies.

We, the undersigned, believe that sustainable development is one of the fundamental aspects of budgeting, investing and lending. Sustainable development is based on a balance between the environment, society and the economy, and with targeted actions, it is possible to use budgets, investments and lending activities to maintain sustainable development. The widespread impact of COVID-19 highlights even more the importance of having sustainability as an important guiding light in the reconstruction work ahead.

Í ákvörðunum okkar tökum við tillit til alþjóðlegra skuldbindinga Íslands og þeirra viðmiða sem íslensk stjórnvöld hafa sett sér. Þar má nefna markmiðið um kolefnishlutlaust Ísland eigi síðar en árið 2040, markmið Parísarsamkomulagsins um að dregið verði úr losun gróðurhúsalofttegunda þannig að hlýnun jarðar fari ekki yfir 1,5 gráður og heimsmarkmið Sameinuðu þjóðanna um sjálfbæra þróun 2030. Eftir atvikum er einnig litið til ESG/UFS, meginreglna Sameinuðu þjóðanna um ábyrga bankastarfsemi (UN PRB), meginreglna Sameinuðu þjóðanna um ábyrgar fjárfestingar (UN PRI), UN Global Compact ofl.

Við skuldbindum okkur ennfremur til að birta stefnu okkar um ábyrgar og sjálfbærar fjárfestingar, fjárveitingar og útlánastarfsemi, og veita upplýsingar um leiðir okkar í þessum efnum.

 

*According to the nature of the case, the implementation of the declaration takes into account legal sources, internal rules and the authority of the relevant investor.


Signed on September 25, 2020

The declaration of intent - signatures Undirritun - takið þátt

Viljayfirlýsing - Fjárfestingar í þágu sjálfbærrar uppbyggingar


Declaration of Intent - Investment for a Sustainable Recovery


Declaration of Intent - Investment for a Sustainable Recovery

Because finance is a major driver of employment generation, the economy and society in general, allocation of investment and capital determines to a large extent the competitiveness of countries and the future of coming generations. In this respect, investors, financialundertakings, institutions and governments play a vital role in shaping businesses and societies.


We, the signatories of this declaration, believe that sustainable development is one of the fundamental elements on which decisions about funding allocations, investments and lending should be based. Sustainable development maintains a balance between the needs of the environment, society and economy and through conscious, targeted actions, funding allocations, investments and lending can help ensure sustainable development.

The extensive consequences of COVID-19 further emphasise the importance of making sustainability a guiding principle in the reconstruction efforts ahead.


In our decisions we bear in mind Iceland‘s international commitments in this regard and targets adopted by the government. Among them is the goal of making Iceland carbon-neutral by 2040, the Paris Agreement’s target to reduce GHG emissions so that global temperature rise will not exceed 1,5 degrees and to achieve the Sustainable Development Goals (SDGs) by 2030.

Depending on the nature of the organisation, we follow the ESG criteria, UN Principles for Responsible Banking (UN PRB), UN Principles of Responsible Investments (UN PRI), UN Global Compact, etc.


We furthermore commit to publishing our policies on responsible and sustainable investments, funding allocations and lending and to disclose information about our actions in this regard.

*The implementation of this statement by investors will by definition take into account applicable law, internal rules and the investment mandate of each investor. Any application of this statement must, as a matter of course, take into account applicable law, internal rules and the investment mandate of each investor.


Released: 25 September 2020


Declaration of Intent - Signatures
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