Finnish pension giants refrain to name and shame, unlike Danish and Swedish peers

Most Nordic pension funds transparently publish exclusion lists online, but none of Finland’s six largest pension firms follow suit beyond posting general exclusion policy on their websites, a recent Robeco report finds. Varma and Ilmarinen tell AMWatch why their exclusion lists are only open to internal review.

Niina Arkko, Responsible Investment Analyst at Ilmarinen (l.) and Hanna Kaskela, Director of Responsible Investment at Varma Mutual Pension Insurance Company. Photo: PR Ilmarinen and Varma.

The reason why Finnish pension giants Varma and Ilmarinen have not published a list of companies which they do not invest in is that they both prefer to focus primarily on what they actually do and what they actually they invests in, rather than on what they do not do, say responsible investments experts at both companies in response to a recent Robeco analysis.

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