Press release 23.3.2023

Ilmarinen is Finland’s most cost-effective pension company

“Responsibility and sustainable development are at the very core of our operations. To us, responsible management of pensions means that we want to further improve our operations and our efficiency. This benefits our customers and the entire pension system,” says Ilmarinen’s President and CEO, Jouko Pölönen.

“In 2022, Ilmarinen was Finland’s most cost-effective pension company, which is essential for sustainability,” he adds.

In its new Annual and Sustainability Report, Ilmarinen highlights its impacts on sustainable development with even more clarity than before.

“We have introduced a new way of reporting, in accordance with our new sustainability programme. What is new compared to our previous reporting is that we have dedicated an entire section to human rights and disclose our impacts on biodiversity in line with the international reporting framework that is being created,” says Sustainability Manager Eveliina Leino.

A decreasing trend in the carbon footprint of investments

In Ilmarinen’s operations, the most significant impacts on the environment and people, both globally and in its home country Finland, come from the investment of pension assets.

”This was confirmed when we calculated the carbon footprint of our own operations: 98.7 pre cent of our emissions relate to investments. Ilmarinen has been following the carbon footprint of its investments for many years and the footprint is decreasing,” says Karoliina Lindroos, Head of responsible investing.

Ilmarinen seeks to achieve carbon neutrality in the investment of pension assets by the end of 2035. It works towards that goal with the help of climate roadmaps.

One way to monitor the development of an investment portfolio’s climate targets is to use the two-degree scenario analysis aligned with the Paris Agreement.

“The portfolio’s alignment improved again towards the target set by Ilmarinen’s Climate Roadmap,” Lindroos says.

Another example of good progress is that the emissions caused by real estate have decreased by 58 per cent from 2020. The reason for an improvement of this scale is that Ilmarinen only purchases electricity generated with zero carbon dioxide emissions for its Finnish real estate.

Ilmarinen’s sustainability reporting

Ilmarinen reports comprehensively on environmental responsibility, social responsibility and good governance in its new Annual and Sustainability Report. Report also provides insights into pension security and into how Ilmarinen has managed it during the year. The report is available in English, Finnish and Swedish. It has been implemented in an accessible manner.

This is the seventh time that Ilmarinen reports in accordance with the GRI guidelines. Concerning climate issues, Ilmarinen also uses the international TCFD (Task Force on Climate-related Financial Disclosures) framework, and with regard to biodiversity, the beta version of the TNFD (Taskforce on Nature-related Financial Disclosures) framework. The report was verified by Ernst & Young Oy.

Further reading:

For more information, please contact:

Karoliina Lindroos, Head of responsible investing, 040 577 2203,
Eveliina Leino, Sustainability Manager, 050 577 9234,



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