Varma Mutual Pension Insurance Co. Takes Action to Protect Human Rights in Investments and Operations

On Thursday, Varma Mutual Pension Insurance Co. in Helsinki announced that it will be incorporating human rights as a sustainability risk into its investments, operations and supply chain. After assessing the potential human rights risks and impacts of its activities, the company established principles to address any violations that could affect investments. Varma screens for norm violations in private credit investments and classifies them into three categories: blacklisted investments, investees engaging in an engagement process, and investees on an observation list. Depending on the category, Varma uses different methods of engagement to address international human rights agreements. This year alone, they had 67 active engagements with investors or independently to tackle violations. Varma also requires personnel and suppliers to demonstrate controls in place to ensure that human rights are respected throughout their operations and supply chain if requested. By monitoring compliance with national laws and international agreements on human rights, Varma is able to identify sustainability risks more effectively.

Summary

• Varma Mutual Pension Insurance Co. is incorporating human rights as sustainability risks in its investments, operations and supply chain.
• Varma monitors investments for possible human rights violations by screening for norm violations.
• Varma’s guidelines on human rights risks and impacts extend to its personnel and suppliers.

What measures does Varma take to ensure that human rights are respected in its operations and supply chain?

Varma monitors investments, engages with investees, and requires personnel and suppliers to demonstrate controls in place to ensure that human rights are respected in its operations and supply chain.
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Picture source: Wasa Crispbread