Corporate social responsibility (CSR) is an integral part of our core task: securing pensions. ‘Responsible Varma’ is also a key theme in our new strategy.
For Varma, responsible operations means first and foremost securing solvency, disruption-free implementation of pension provision and promoting workability. Corporate social responsibility is also an integral part of our investment operations and ownership practices.
We also take care of mitigating climate change and ensuring the well-being at work of Varma employees.
We actively communicate what CSR means to us and how our responsible operations show in society.
Varma has determined the carbon footprint of its investments and has published its climate policy, which details how the company will achieve a lower-carbon portfolio.
In autumn 2015 we drew up a new Corporate Social Responsibility (CSR) programme. It was based on a materiality assessment carried out to identify the most significant CSR aspects from Varma’s perspective. We wanted to hear what our stakeholders’ CSR expectations are and analyse the business impacts of CSR issues. Close to 1,200 respondents answered our online survey in October 2015. Based on the results, we created a materiality matrix which also shows the significance of the CSR aspects that were considered to be important for Varma’s business.
On the basis of the materiality assessment, we defined Varma’s CSR targets, indicators and measures. For Varma, responsible operations means first and foremost securing solvency, disruption-free implementation of pension provision and promoting workability. In addition, we want to further improve the transparency of our operations and administration.
Responsible investment is an integral part of our investment operations and ownership practices. Our target is to intgrade ESG practices deeper into investment decisions and ownership.
Mitigating climate change in our own operations, our supply chain and our investments emerged as a new CSR target. Our target is to take climate change into account in our investments and our operations and to publish a climate policy.
We also take care of the workability of Varma’s employees and develop our competence so that we can serve our customers smoothly.
In combating the grey economy, it is important for us that all work carried out in Finland is covered by earnings-related pension insurance.
We participate in supporting entrepreneurship by, among other things, offering free digital tools especially to entrepreneurs that are starting up or expanding their operations.
Responsible investment is an integral part of our investment operations and ownership practices.
Our investment process includes an ESG analysis. We focus on analysing the most important ESG aspects and their impact on the return on investments and risks on a longer term.
We have published Varma’s Principles for Responsible Investment and specific policies for different asset classes. Read more about responsible investment in the section Financial information and investments.
Varma is a member of Fibs, a corporate responsibility network in Finland, and Finsif, Finland's Sustainable Investment Forum. We have signed the Diversity Charter, and as a member of Diversity Charter Finland we are willing to engage in developing our diversity management and practices.
Varma has joined the Montréal Carbon Pledge initiative supported by the Principles for Responsible Investment (PRI) and the United Nations Environment Programme Finance Initiative (UNEP FI). Under the Pledge, investors commit to measure and publicly disclose the carbon footprint of their listed equity investments on an annual basis.
Varma has signed the CDP (formerly Carbon Disclosure Project), which compiles data on companies' greenhouse gas emissions and other climate-change-related data.
We have been focussing strongly on reducing the energy consumption of our business premises. Our goal was to reduce energy consumption by 6 per cent from its 2011 level by 2016. We reached that goal ahead of time in summer 2015.
We reduced the annual carbon footprint of Varma’s real estate by 3,000 CO2 tonnes through the energy-saving measures carried out in 2011−2015.
Varma implemented the WWF’s Green Office environmental management system in the beginning of 2016. Our intention is to improve the Salmisaari office building’s ecological footprint and to encourage Varma employees to make eco-friendly choices in their daily lives.
One of the key targets is to make efforts to reduce greenhouse gas emissions in its own operations as well.
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