Varma among top companies in EcoVadis CSR assessment

EcoVadis, an international corporate social responsibility assessment specialist, has awarded Varma the CSR Rating Gold. Varma’s CSR practices were rated as excellent, with its overall score in the top five per cent of the 45,000 companies analysed.

EcoVadis assesses suppliers of goods and services on their sustainability performance in terms of environment, labour practices, fair business practices and sustainable procurement. The independent assessment report was completed over the summer.

“At Varma, corporate responsibility is a key element of our strategy and a permanent factor in our policies, decisions and everyday work and development. It is great that our hard work has paid off as excellent results in the EcoVadis assessment,” says Katariina Sillander, Sustainability Manager at Varma.

For Varma, responsible operations mean first and foremost securing solvency, smooth implementation of pensions and promoting workability. Responsibility is an integral part of our investment operations and ownership practices.

“Over the last few years, we have focussed on mitigating climate change, renewing our workplace culture as well as the cost effectiveness and ethicality of our business operations. We have worked on our corporate policies as well as processes and concrete actions,” explains Sillander.

Varma reports on its CSR performance according to the Global Reporting Initiative (GRI) standard and is committed to, for instance, the United Nations’ Guiding Principles on Business and Human Rights (UNGPs) and the Principles for Responsible Investment (PRI).

Founded in 2007, EcoVadis has assessed companies in 190 industries and 150 countries. Its assessment methodology is based on international corporate sustainability standards such as the Global Reporting Initiative, the UN Global Compact and the ISO 26000 standard.

To read more about Varma’s responsibility practices and (CSR) reporting, visit our website. 

Further information: Katariina Sillander, Sustainability Manager, tel. +358 40 709 9836

Varma’s corporate social responsibility actions

  • The carbon footprint of Varma’s investments has fallen substantially over the past two years. The equity portfolio’s carbon footprint decreased by as much as 27% from the 2015 baseline. The targets were reached ahead of schedule in all asset classes.
  • New CSR guidelines have been added to Varma’s share ownership policy. Varma expects companies, for example, to report on the impacts of climate change on their operations, both now and going forward.
  • Roof-top solar power systems have been installed in buildings owned by Varma. They are currently in use at six different sites throughout Finland.
  • Gender equality is one of Varma’s CSR themes. The target is to have 40% representation of either gender in Varma’s Executive Group and middle management by 2022.
  • Varma raised a flag for equality and diversity at this year’s Helsinki Pride week. Varma will offer its personnel training in interacting with sexual and gender minorities in the work community.
  • We have drawn up a Supplier Code of Conduct. We require our entire supply chain to commit to ethical and transparent business.
  • We have reduced the ecological footprint of our Salmisaari office building. Food waste is down by more than a third since the staff restaurant began selling its leftover lunch food.
  • The majority, i.e. 70%, of Varma’s new company cars have very low emissions. The parking facility in our office building has 250 spots for hybrid and electric cars.