In recent times, Kvika has been working hard to shape and better incorporate ESG factors into its operations. We published our first ESG report based on Nasdaq’s ESG guidelines (ESG Reporting Guide 2.0) at the beginning of 2020 for the 2019 operating year.
Since 2020, the bank has undergone annual review as part of an ESG risk assessment carried out by an independent third party. The finding has been that Kvika is well above the average of other companies in Iceland – while the market average in 2021 is an overall rating of 67%, Kvika scores 83% and is in category B1.
The Sustainability Report is based on Nasdaq’s ESG guidelines (ESG Reporting Guide 2.0), while taking account of GRI standards and addressing the relevant indicators. Deloitte’s 2021 opinion providing limited assurance on Kvika’s non-financial disclosure was published at the same time as the report.
Emphasis on long-term thinking, simplicity and courage are our core company value and our policy is to have a long-term positive impact on the community. This entails that when decisions are made, the long-term effects are always taken into account, whether they concern internal matters of the bank, our customers or the community.
Kvika's CSR Policy ensures a common vision of the Group‘s emphases in social issues and sustainability, where we are heading and what our responsibilities are. To support this, Kvika has set up a committee on social responsibility and sustainability, which oversees and is responsible for the implementation of the CSR policy. The committee consists of representatives from the bank and its largest subsidiaries.