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15 December 2021 News

Klappir approved as a green company

International sustainability data, analytics and insights company ISS ESG has carried out an assessment on Klappir‘s operations, and confirmed their status as green. The assessment is based on the fact that over 90% of Klappir´s revenues originate from the company’s software – a sustainable platform and ecosystem that reduces greenhouse gas (GHG) emissions from companies, municipalities, and public institutions. Such activities are categorized as green in the recent EU Taxonomy, which is expected to be adopted in Iceland soon.

By Lára Sigríður Lýðsdóttir

This is the first time a company receives this kind of certification from a highly verified partner such as ISS-ESG, and is thus a great recognition for Klappir. The company has for years been a leader in sustainability software development, as its sustainability platform and ecosystem allows everyone to work together to measure and share their GHG emissions as well as other ESG reporting requirements.

In parallel with its assessment, ISS ESG has given a positive second party opinion (SPO) on Klappir´s new Green Financing Framework. The Framework will enable Klappir to obtain green capital from investors and financial institutions to finance the company´s operations and growth. By establishing the Framework, Klappir also wants to encourage other Icelandic SMEs to enter the green investment space and mobilize investors and financial institutions to take part in that journey. This will support Iceland’s Climate Goals as of part its Paris Agreement commitments and support innovation and entrepreneurship in the green economy, to the benefit of the Icelandic economy, and future generations.

Klappir’s mission is to create tangible long-term value for its customers and the community. With Klappir’s vision and sustainability platform and ecosystem, Klappir is helping organizations to protect, preserve and restore natural values for future generations, build new and valuable jobs in green innovation and create platform for future generations to address environmental challenges. Klappir´s sustainability platform and ecosystem is built on standardized methodologies which create a common platform for understanding and addressing the great challenges facing the environment.

“In the beginning, Klappir was only an idea of what could be done with concerted efforts of many stakeholders who shared the same vision. Today we are a driving force in sustainability in Iceland. Hundreds of companies work with Klappir´s sustainability platform and ecosystem which has helped them achieve success in sustainability. The sustainability platform and ecosystem is now starting to expand globally, with international players connected to the platform and benefitting from its software solutions and testing it for their operations.

To ensure its long-term growth, Klappir will need to access growth capital in the form of equity, debt and loans. This Green Financing Framework is an important step towards unlocking green growth capital, which will give us the opportunity to work towards a greener and more sustainable future, both in Iceland and at the international level. ", says Jón Ágúst Þorsteinsson, CEO of Klappir.


Founded in 1985, Institutional Shareholder Services group of companies (ISS) empowers investors and companies to build for long-term and sustainable growth by providing high-quality data, analytics and insight. ISS, which is majority owned by Deutsche Bourse Group, along with Genstar Capital and ISS management, is a leading provider of corporate governance and responsible investment solutions, market intelligence, fund services, and events and editorial content for institutional investors and corporations, globally. ISS’ 2,200 employees operate worldwide across 29 global locations in 15 countries. It’s approximately 3,100 clients include many of the world’s leading institutional investors who rely on ISS’ objective and impartial offerings, as well as public companies focused on ESG and governance risk mitigation as a shareholder value enhancing measure. Clients rely on ISS’ expertise to help them make informed investment decisions.

By Lára Sigríður Lýðsdóttir15 December 2021

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