The £55 billion ($71 billion) BT Pension Scheme (BTPS) has unveiled plans to achieve net-zero carbon emissions for its investment portfolio by 2035 under its responsible investment policy.
In a September statement of its investment principles, BTPS said, in relation to climate change, the pension plan believes reducing exposure to carbon emissions over time will improve investment outcomes and reduce the impact of potential adverse outcomes associated with future climate risk.
“The scheme’s investments should be managed to create sustainable long-term value, supporting the generation of optimal investment returns to ensure the scheme can pay all benefits in full,” said BTPS. “To do this effectively, the trustee believes that all financially material considerations, including ESG factors, must be integrated throughout the investment process.
