Finnish pension company Veritas reduced its carbon emissions by 6 per cent in 2022, its annual report and corporate responsibility report have revealed.

Compared to the 2020 level, carbon dioxide emissions from the properties that Veritas owns have decreased by as much as 75 per cent, according to the pension company.

The weighted carbon dioxide intensity of its investments fell by 19 per cent during 2022.

In relation to the 2020 level, the pension company’s weighted carbon dioxide intensity has decreased by 44 per cent.

Its report also revealed that Veritas’ weighted carbon dioxide intensity in its investment portfolio was 24 per cent lower than the corresponding benchmark index.

The pension company’s goal is to have a climate-neutral investment portfolio by 2035.

Veritas stated that, in the investment business, it has continued to work in accordance with its climate policy and reduced carbon dioxide emissions.

In 2022, alongside its equity investments, the listed corporate loan investments were also included in the climate goals.

All energy consumed in Veritas’ properties has been emission-free since the beginning of June 2022.

The pension company noted that while the total emissions from properties have decreased significantly, “much work is still needed” to achieve climate neutrality.

"The year 2022 was challenging in the investment market and in the world economy, but for Veritas it was a year of strong growth,” commented Veritas CEO, Carl Haglund.

“Within YEL insurance, our growth was the fastest in the industry."

During 2022, Veritas managed occupational pension protection for more than 120,000 people.

"We continued to work towards our corporate responsibility goals in 2022,” said Veritas director of corporate law, Linda Magnusson.

“Responsibility is an essential part of our basic task as a pension company and thus in everything we do.

"We invest in personal and fast customer service so that our customers get the help they need reliably and at the right time.

“Last year we also invested in training the staff, because corporate responsibility is an issue that affects every employee.”

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