Varma is taking part in today’s Zero Emissions Day, which aims to give the world a break from fossil fuels and call attention to harmful emissions.
Varma’s biggest climate impacts stem from our investment activities.
“We have set ambitious targets to mitigate the effects of climate change, as we aim to have a carbon-neutral investment portfolio by 2035,” says Varma’s Director of Responsible Investments Hanna Kaskela.
Geothermal heating to replace district heating
In recent years, Varma has focussed on reducing the emissions of its investment portfolio. Good results have been achieved, for instance, in properties, in which the carbon footprint has decreased by 27% since 2015.
Emissions will be targeted with even greater intensity in the future, when the heat source for a large proportion of Varma’s residential properties switches to heat pumps. Heat pumps and solar panels will be installed in 36 apartment buildings, which means the emissions from Varma’s total housing stock will decrease by an estimated 48% by 2023. In some apartment buildings, geothermal heating will replace district heating entirely.
Global recognition for climate actions
Varma has been recognised for its climate actions in international comparisons. For example, Varma had the best ranking among Finnish companies in a comparison of pension funds in the AODP’s global climate index, coming in 5th place.
In August, Varma was recognised for its work to combat climate change when it was given the first-ever Geranium Award granted by the Activist Grannies (Aktivistimummot). Established in autumn 2019, the Activist Grannies movement rewards deeds that demonstrate a dedication to taking climate change seriously and inspire more and more people to take a path of activism.
Zero Emissions Day is also a big event on social media. You can follow and participate in the dialogue with the hashtags #ZeroEmissionsDay and #Nollapäästöpäivä.