Sustainability

Sustainability is an integral part of Varma’s core task – securing pensions. The guiding principle behind our sustainability programme is “Working for future generations”. We secure present and future pensions through our sustainable operations and strong solvency. Varma’s sustainability efforts focus on climate change mitigation, promoting work ability and good working life, ethical business, open communication and last, but certainly not least, responsibility for Varma employees.

Read more about Varma’s Sustainability Programme (pdf)

Varma is committed to operating responsibly and to further developing its sustainability. It is important to us that our suppliers also take excellent care of their responsibility obligations.

We make procurements every year, for example, in property development, real estate maintenance and IT services. The majority of our purchases are made within Finland.

We expect the suppliers who have a contractual relationship with us to comply with Varma’s Supplier Code of Conduct. At the same time, first-tier suppliers must undertake to ensure responsibility in their own supply chain.

Our requirements take into account, among other things, combating corruption and bribery, respecting human rights and protecting the environment.

Varma may, if it so wishes, perform audits at its suppliers’ business locations to ensure compliance with its Supplier Code of Conduct.

Read more about Supplier Code of Conduct (pdf)

In 2016, we became the first Finnish pension company to publish a climate policy, which details our efforts to achieve a lower-carbon portfolio. 

Read more

• Climate policy for Varma's investments (pdf)
• Climate policy for Varma's investments: presentation material (pdf)

• Varma’s Code of Conduct (pdf)
• Corporate Social Responsibility Programme (pdf)
• Principles for Responsible Investment (pdf) and climate policy (pdf)
• Active ownership and engagement principles (pdf)
• Varma's Anti-Bribery Policy
• Insider Guidelines
• Sponsorships and donations at Varma
• Supplier Code of Conduct (pdf)

Varma invests in a responsible manner. We incorporate responsibility system-atically in all our investment operations.

We require that our investees comply with international agreements and standards, the most important of which are:

• The UN Global Compact initiative on corporate responsibility
• The OECD guidelines for multinational enterprises
• The ILO labour conventions

The topics covered by Varma's principles for responsible investment include mitigating climate change, which is one of Varma's CSR targets. Because this topic is so important and topical, we have drawn up a separate climate policy (pdf). Responsibility in also included in our ownership policy (pdf).

Varma has signed the UN Principles for Responsible Investment (PRI) and published a PRI responsible investment report:

• PRI responsible investment report 2019 (pdf)
• PRI responsible investment report 2018 (pdf)
• PRI responsible investment report 2017 (pdf)
• PRI responsible investment report 2016 (pdf)
• PRI responsible investment report 2015 (pdf)
• PRI responsible investment report 2014 (pdf)

Varma has also signed the CDP (formerly Carbon Disclosure Project), and joined the PRI-supported Montréal Pledge initiative.

Varma’s Principles for Responsible Investment (pdf)

Responsible investment in asset classes (pdf)

Climate policy for Varma's investments (pdf)

Active ownership and engagement principles (pdf)

Varma's tax policy (pdf)

Varma’s corporate social responsibility

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.

Varma has also joined the Climate Partners network that fosters cooperation to reduce GHG emissions and to mitigate climate change.

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.