In response to growing climate concerns, Varma Mutual Pension Insurance Company has renewed its climate targets to accelerate decommissioning of coal-fired power plants, exclude oil exploration and hold a carbon-neutral portfolio by 2035.
The new Climate Policy for Investments outlined by Varma sets 2025 as the deadline for exiting thermal coal investments. Sustainable investment scepticism declines as climate change concerns rise Hanna Kaskela, director of responsible investment at Varma, said: "Our goal is to have the companies that we engage with decommission their coal plants by 2030. We see no future for coal-based electricity generation". 2025 is also the target for one-fifth of the investment portfolio to comprise investees that "directly or indirectly mitigate the advancement of climate change". They aim ...
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