22. október 2021

BYKO receives an award from Creditinfo and Festa for excellent social responsibility

BYKO received an incentive award yesterday for outstanding results in the field of social responsibility

The award is a joint project between us at Festa and Creditinfo and was awarded for the fourth time.

The incentive award is given in conjunction with the publication of Creditinfo's list of Outstanding Companies. The aim of the awards is to draw attention to the fact that excellent operations mean that companies have a positive impact on the environment and society in which they operate and thus maximize their financial success. At the same time, the technology company Trackwell received an award for outstanding innovation.

"This award is part of Creditinfo's efforts to encourage companies to do good work in the field of social responsibility and innovation. These are evaluative elements, and therefore a jury has been appointed in each category to ensure a professional approach to awarding the awards. We have had a successful collaboration with Festa and Icelandic Startups regarding the development of criteria and the composition of juries from year to year. We heartily congratulate Trackwell and BYKO on their good results and look forward to seeing even more companies excel in the field of innovation and social responsibility in the future," says Hrefna Ösp Sigfinnsdóttir, managing director of Creditinfo in Iceland.

"It is extremely gratifying to see that our efforts and strategy in the field of social responsibility, of which we are very proud, are attracting attention. We welcome these awards, which are a great recognition and encouragement for continued good work. Environmental issues and sustainability have long been on the minds of BYKO's owners, and it can be mentioned that 34 years have passed since the company started growing forests at Drumboddsstaðir in Biskupstung. A year ago, the forest was mapped and its carbon sequestration was evaluated in a recognized and scientific way. We set ambitious goals, then measure and publish the results. By setting the bar high, we believe that the results will be the best," says Sigurður Brynjar Pálsson, CEO of BYKO.

The management and staff of BYKO together with the jury and the managing director of Creditinfo



"We set ambitious goals, then measure and publish the results. By setting the bar high, we believe that the results will be the best,"

The jury's opinion states that BYKO has systematically worked towards increased sustainability and that social responsibility is integrated into the company's operations. BYKO does not only look at its own operations, but the goal is to influence the cooperation with suppliers and customers.

It is stated that Byko's management and employees are aware of their role in the value chain and emphasize offering ecological building materials, thus reducing the carbon footprint of structures. To facilitate ecological construction, the company has reviewed its product offering to specify which products are environmentally certified, thus making it easier for customers to choose more environmentally friendly products.

It is pointed out that BYKO has mapped the company's carbon emissions in 2018 and started work to reduce emissions in the operations, which is reflected in the company's projects and goals. Measurable, ambitious goals have been set and the company is not afraid to show the results, even though they are not always achieved. BYKO has also presented an ambitious equality plan and clear goals in that respect.

The jury consisted of Gréta María Grétarsdóttir, chairman of the jury, director of innovation, social responsibility and investor relations at Brimi, Erla Tryggvadóttir, VÍS' communications manager, vice-chairman of Festa's board, and Jón Geir Pétursson, associate professor at the University of Helsinki who is a member of Festa's board.



Jury together with the management of Creditinfo and BYKO



Photographs: Óli Már