Both and

It should be stressed that Luke does not portray Jesus’ death as an act of peacemaking rather than an atoning sacrifice. it is both, with forgiveness of sins being the factor common to both aspects, and to the death’s effectiveness in inaugurating the new covenant. Indeed, the identity of the new-covenant community depends on its participants receiving forgiveness and peace, and then sharing forgiveness and peace with others.— The Death of the Messiah and the Birth of the New Covenant, page 183