Finnish earnings-related pension provider Varma has released its Responsible Investment Review for 2024, outlining its key responsible investment goals and their implementation last year.

The summary has been published in this format for the first time, replacing the traditional annual and sustainability reports.

The review states that Varma focused on considering and assessing the risks posed by climate change and promoting biodiversity in its investment activities - the 'global challenges' of our time.

Indeed, in addition to return expectations, Varma's investment decisions assessed aspects related to the responsibility and sustainability of the investment target, such as environmental impacts, societal and social issues, and good governance.

"We have increased our portfolio's share of climate-sensitive investments through long-term work to over 39 per cent," Varma responsible investment development manager, Vesa Syrjäläinen, said.

"In the review, we also explain how we implement active ownership in our investments," she continued.

"Varma participates in the general meetings of the companies it owns and serves on several nomination committees whose task is to elect the company's board of
directors.

"Our goal is to provide comprehensive and transparent information about our principles and practices related to responsible investing. We also provide information about our processes if an investment violates our responsibility
standards," added Syrjäläinen.

---