Sustainable Business
Glitnir aims to be a global leader in two specialized industries; seafood and sustainable energy, with a special focus on geothermal energy. For both industries, the responsible management of the natural resources on which they depend is essential for the sustainability of the business.
With its expert knowledge in both fisheries and sustainable energy, Glitnir is a valued global player in further promoting and developing these industries.
Seafood
Since 1904 the seafood industry has been an important element of Glitnir's business activities. Early on, the Icelandic government instituted a fishery quota system that manages sustainability within the sector. With extensive relevant sector experience, Glitnir provides financial services to global fishing and seafood industries.
As the world's oceans are being exploited, responsible management of fishing stocks is becoming increasingly important. Responsible fish farming is essential to aquaculture as it determines the sustainability of the business. Providing financial and expert advice on sustainability within the fishing industry is an important element of Glitnir's business opportunities.
Learn more about our seafood activities.
Geothermal Energy
Geothermal energy is a clean and renewable resource that plays a significant role in communities around the world. Harnessed from underground reservoirs, the energy can provide heating and electricity in geologically favourable areas. It is a base-load capacity source of electricity and a clean alternative to fossil fuel based electricity production and heating.
Iceland is a leading expert in sustainable energy with 99.9 percent of electricity generated from renewable energy and over 90 percent of the country's housing being heated with geothermal energy. Glitnir's sustainable energy team combines years of experience in this field and is focused on providing the global community with sustainable business solutions.
Learn more about our sustainable energy activities.
Financial Times Sustainability Awards
In June 2008, Glitnir Bank won the Runner-Up for the "Sustainable Deal of the Year" at Financial Times Sustainable Banking awards. The "Deal" relates to a geothermal generating facility being developed within the Salton Sea geothermal field in Imperial County California. Glitnir was competing with large players, such as Citibank, Merill Lynch, Morgan Stanley and BlueOrchard Finance.
In 2007, Glitnir was nominated for the Financial Times Sustainable Banking Awards in the category "Sustainable Deal of the Year" for the bank's participation in developing a geothermal heating system project in Xian Yang city in China.
