€8.3bn Finnish pension insurer invests in ESL Shipping’s green transition
A Finnish pension insurer has invested €15m ($19m) in bulker owner ESL Shipping to help support the decarbonisation of its fleet.
€8.3bn Varma Mutual Pension Insurance Company’s investment was made alongside OP Finland Infrastructure, who committed a further €30m into ESL Shipping, a subsidiary of Aspo.
According to Aspo, both investments will support the shipping owner’s green transformation of its fleet, accelerating the implementation of its low-carbon growth strategy.
ESL shipping launched its low-carbon growth strategy in April 2023, which aims to launch an investment pool of fossil-free vessels.
“ESL Shipping plays a pivotal role in Finnish maritime transportation and our investment with OP Finland Infrastructure supports the growth and de-carbonisation of ESL’s fleet going forwards. Investments in accelerating green transition are in the core for us,” said Johanna Haikala, investment manager of Varma Mutual Pension Insurance Company.