To support our future vision, it is essential that all the activity of Business Iceland ( Íslandsstofa) be based on sustainability values and that it leads by example in all matters of the environment and climate, both inside and outside the workplace.

SUSTAINABILITY

According to the long-term policy formation of the business community and public authorities regarding the marketing and export of Icelandic goods, services, and culture, Iceland's future vision is to become known as a leading country in sustainability.

For this future vision, it is crucial that all the activity of Business Iceland is based on sustainability values and that it leads by example in all matters of the environment and climate, both inside and outside the workplace.

Business Iceland places a prime emphasis on letting its activity support this future vision for Icelandic exports so that Iceland will become a sustainability leader. Business Iceland will do this in part by being a leader regarding sustainability in its operations. Sustainability will moreover act as a safeguard for the ability to tend to the essential tasks of the office and values for stakeholders in the longer term.

A sustainability policy's prime purpose and goal is to ensure that sustainability will be a guiding principle in all the work of Business Iceland. The sustainability policy will be both a declaration on sustainability and a frame for sub-policies related to the environment, social issues, and governance. The following is a further description of sub-policies for each.

The introduction of policies is being developed with support from Bravo. Earth and regard is had to the UFS criteria of Nasdaq as well. Business Iceland is a partner in Festa, a center for social responsibility and sustainability.

ENVIRONMENT

Business Iceland emphasizes keeping adverse environmental impacts of its activity to a minimum. The emission of greenhouse gasses is measured annually.

Business Iceland has set an environmental and climate policy for itself and is working on introducing Greener Steps.

Business Iceland carbon offsets its routine activity for 2021, i.e., for electricity use, heat, waste, air travel, and staff traveling to and from work (phases 2 and 3). Business Iceland purchases carbon offsets through the Iceland Carbon Fund Kolviður.

Business Iceland emphasizes analyzing and acquiring knowledge of how climate and other environmental issues can, directly and indirectly, influence operations and, thereby, the ability of Business Iceland to perform its task. In this manner, Business Iceland intends to respond to and mitigate the impact, as applicable.

The environment and climate policy can be found here.

SOCIAL ISSUES

Business Iceland emphasizes a work environment that attracts and retains outstanding staff. The motto of our human resource policy is "We generate ideas and put them into practice." Our workplace embraces our experts' specializations and promotes a challenging, international, creative, and fun workplace.

Business Iceland emphasizes respect, equality, health, and safety for all employees and does not tolerate prejudice, harassment, or persecution.

See further our equality policy and human resource policy (Icelandic). In addition, Business Iceland follows remote work and health policy guidelines.

GOVERNANCE

The Board of Business Iceland underscores good governance and that it adheres to laws and regulations.

The rules of ethical conduct apply to all its activities, the staff, management, and contractors performing work for Business Iceland. The rules act as guidelines for daily work, with the interests of Business Iceland and clients as guidance.

Business Iceland has established a privacy protection policy for itself that describes how Business Iceland handles the personal information of staff, clients, contractors, and others.

The rules of ethical conduct of Business Iceland, the operating rules of the Board, and its personal privacy protection policy may be accessed here.

Sustainability is an important driver in the work of Business Iceland. The formation and introduction of a sustainability policy, along with an annual sustainability report, is a significant part of presenting a clear picture of the policies and practices of companies. Such work has already begun at Business Iceland and will, over time, become an inseparable part of our traditional work. The societal demands for sustainable operations will be increasingly important in the future. Business Iceland will therefore continue on this path toward a sustainable future.