Varma invests €200m in sustainable investment fund

Written by Adam Cadle

12/04/2021

Varma has invested €200m in the sustainable ETF by the global asset management firm BlackRock.

Through its investment, Varma’s intention is to support companies in lowering their carbon emissions and to reduce the carbon footprint of its own investments.

The BlackRock U.S. Carbon Transition Readiness ETF invests in large- and mid-capitalisation US companies that may be better positioned to benefit from the transition to a low-carbon economy. The ETF’s benchmark is the Russell 1000 index, which represents the 1,000 top companies ranked by market value in the US. Along with lowering carbon emissions, the ETF focuses on sustainability criteria related to the environment, social issues and good governance.

“We are very proud to be able to promote sustainable investment together with BlackRock and other major global investors. This, in effect, allows us to show our support for companies that aim to lower their carbon emissions,” Varma's head of listed securities Timo Sallinen stated.

“In addition, Varma’s goal is to reduce the carbon footprint of its own investments and achieve a carbon-neutral investment portfolio by 2035. Investing in BlackRock’s ETF is one way of reducing the carbon footprint of Varma’s investments,” Sallinen added.

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