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Responsibility at Varma
Varma’s Corporate Social Responsibility Programme 20171
Varma’s Corporate Social Responsibility Programme 20172
Vision.
Responsibility is part of
Varma’s daily operations.
We actively communicate what
CSR means to us and how our
responsible operations show in
society. We continuously
develop our responsible ways
of operating.
For Varma, responsible operations means first and foremost
securing solvency, high-quality implementation of pension provision
and promoting workability.
Responsibility is an integral part of our investment operations and
ownership practices.
We take responsibility for mitigating climate change in our
investment portfolio, our supply chain and our operations alike.
For us, looking after the workability and competence of Varma
employees is a matter of honour.
And it all culminates in open communication.
Varma’s Corporate Social Responsibility Programme 20173
The making of Varma’s Corporate Social Responsibility Programme
Varma’s Corporate Social Responsibility Programme 20174
•Varma’s current CSR
situation was charted
•A competitor and sector
analysis and a SWOT
analysis were carried out
Analysis of current
situation
•The online survey sent by
email drew 1,200
responses
•Some stakeholder groups
were interviewed face-to-
face
Stakeholder
consultation during
the CSR survey•The Executive Group
decided how stakeholder
expectations will be met
and which CSR themes are
significant for business
Prioritising according
to business
•Varma’s CSR targets and
indicators
•Key CSR development
projects for 2017
Corporate Social
Responsibility
Programme
Katri Viippola @viippola5
Varma’s CSR focus areas
Responsibility for Varma employees Cost-effective use of funds
Open and pro-active
communication
Ethical and transparent
business
Responsibility
in investment
operations
Mitigating climate
change
Securing
solvencyHigh-quality implementation
of pension provision
Promoting workability
and longer careers
CSR targets and indicators 1/2
Area Target Indicator
Securing solvency
• Pensions are well secured
• We pay the best client bonuses
• Solvency ratio – target is the strongest solvency in the sector
• Client bonuses (in relation to payroll)
High-quality implementation of pension
provision
• Pension and rehabilitation customers receive their
decisions without delay
• Pension paid within 4 days of the pension decision
• High-quality pension decisions
• Smooth handling of insurance matters
• Target is to maintain the processing time level attained in
2016 per insurance type
• 98% of payments are paid within 4 days
• Decisions by appeal bodies (%)
• NPS (pension and insurance customers)
Extending careers and promoting workability
• Maintaining workability
• Reduction in disability pensions
• Effective rehabilitation
• Average age of retirement on old-age and disability pension
among customers
• Client companies’ contribution category development (2016:
3.4)
• Effectiveness of rehabilitation: Proportion of rehabilitees
returning to work (2016: 77%)
Open and pro-active communication
• A responsible corporate image
• We pro-actively and openly discuss our operations
• All Varma employees are involved in communicating
on responsibility
• Most responsible earnings-related pension insurance company
in 2017 in the Reputation&Trust survey
Ethical and transparent business
• Development of responsible business operations, e.g.
in customer work and the supply chain
• Increased transparency in the use of assets
• Agreed policies drawn up, practices agreed on, guidelines
published and cascaded down
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Varma’s Corporate Social Responsibility Programme 2017
Targets and indicators 2/2
Area Target Indicator
Responsibility in investment operations
• Embedding responsible investment deeper into investment
processes
• Updating the share ownership policy
• Increase in ESG-charted proportion of the portfolio
• Improving the results of the PRI comparison report
• Adoption of the share ownership policy and
stakeholder-specific communication
Mitigating climate change
• Implementation of the climate policy for investments
• A low-carbon real estate portfolio
• Reduction in CO2 emissions from our own operations and the
supply chain
• Monitoring of the climate policy targets (e.g. CO2
footprint)
• Sector-specific 2-degree analysis
• CO2 footprint of our own operations
Responsibility for Varma’s personnel
• Rooting a new work culture
• Promoting equality
• Looking after the workability of Varma employees
• Increasing Varma employees’ competence in responsibility
matters
• Employee satisfaction
• Targets and actions to promote equality drawn up,
management’s and administration’s statement on
diversity published
• Improvement in the disability pension contribution
category
Cost-awareness and responsible use of assets
• Strongest operating expense efficiency in the sector • Operating expenses as % of loading income
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Varma’s Corporate Social Responsibility Programme 2017
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We are happy to answer all your questions concerning
corporate social responsibility at Varma!
Katariina Sillander
Corporate Social Responsibility Manager
@KSillander
Senior Vice-President, Communications, HR
and Corporate Social Responsibility
@viippola
Katri Viippola
12 February 2016 | Varma’s Corporate Social Responsibility
Programme8
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