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.