20 June 2022
Varma is sharpening the climate policy for its investments and its investment targets aimed at combating climate change. The goal is to cut the entire investment portfolio’s absolute emissions by 25 per cent by 2025 and by 50 per cent by 2030. Setting absolute emission targets for an entire investment portfolio is rare both in Finland and globally.
The value of Varma’s investment portfolio is close to EUR 58 billion. The goal is to reduce the portfolio’s emissions by 25 per cent by 2025 and by 50 per cent by 2030 compared to the level at the end of 2021. Climate change mitigation has been a goal of Varma’s investment activities since 2016.
“Achieving a carbon-neutral investment portfolio by 2035 requires significantly reducing greenhouse gas emissions within all asset classes. In addition, the share of investments classified as carbon sinks, such as forest investments, should be significantly increased in the portfolio. That is why we have set a new goal of reducing the absolute emissions of Varma’s entire investment portfolio. Reducing carbon intensity alone is no longer enough: emissions must also be reduced in absolute terms,” stresses Varma’s Sustainability Director Hanna Kaskela.
According to Kaskela, a major investor setting absolute emission targets on its entire investment portfolio is unheard of in Finland and rare even on a global scale.Source: Varma
June 15, 2022
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