By Rachel Fixsen2021-02-26T13:33:00+00:00 Finland’s Varma announced it has “dramatically” reduced its proportion of fossil-fuel investments in the last five years with an eye to meeting its climate goal, and built an allocation of investments set to benefit from climate mitigation up to 12.4% of its €50.2bn portfolio. The firm, one of Finland’s two largest pension insurers, said in a release on the topic this morning: “Varma has dramatically cut the share of fossil fuels in its investments in order to achieve a carbon-neutral investment portfolio by 2035.” Varma told IPE said this large reduction had taken place between 2015 and the end of last year, but declined to disclose the actual size of the cut.