Declaration of Intent on Funds for the Maintenance of Sustainable Development

Katrín Jakobsdóttir, Prime Minister of Iceland, together with parties constituting the majority of the Icelandic financial market have signed a declaration of intent on the use of funds to maintain sustainable development while bearing in mind Iceland's international obligations and the standards set by the Icelandic government.

These include the goal of a carbon-neutral Iceland by 2040, the Paris Agreement’s aim to reduce greenhouse gas emissions, preventing global warming from exceeding 1.5 degrees and achieve the Sustainable Development Goals (SDGs) by 2030. The senior executives of various financial companies, pension funds, banks, savings banks, insurance companies and investment funds representing close to 80 percent of assets in the Icelandic financial market signed the letter of intent electronically.

The Declaration of Intent was facilitated by the Prime Minister‘s Office, Festa - Centre for So­cial Re­spons­ib­il­ity and Sus­tain­ab­il­ity, The Iceland­ic Fin­an­cial Ser­vices As­so­ci­ation (SFF), The Iceland­ic Pen­sion Funds As­so­ci­ation (LL) and written in partnership with major stakeholders in the finance sector.

"Social responsible thinking and sustainable development is a common thread in the Icelandic Government's charter. We want the Government, companies and institutions to take responsibility and have a constructive impact on society. This requires the introduction of sustainability and social responsibility in all operations. This ideology will create new opportunities and be a driving force for many ways of progress," says Katrín Jakobsdóttir, Prime Minister.

Thórdís Kolbrún R. Gylfadóttir, Minister of Tourism, Industry and Innovation, Kristján Thór Júlíusson, Minister of Fisheries and Agriculture, and Gudmundur Ingi Gudbrandsson, Minister for the Environment and Natural Resources, were present at the signing. Thórey S. Thórdardóttir, CEO of The Iceland­ic Pen­sion Funds As­so­ci­ation, Hrund Gunnsteinsdóttir, CEO of Festa - Centre for So­cial Re­spons­ib­il­ity and Sus­tain­ab­il­ity and Katrín Júlíusdóttir, CEO of The Iceland­ic Fin­an­cial Ser­vices As­so­ci­ation led the process together with the Prime Minister's Office.