BT pension scheme sets new emissions reduction targets

BT Pension Scheme (BTPS) has announced new climate targets for its credit and equity portfolios. The announcement from BTPS targets a reduction of 25% by 2025 for scope 1 and scope 2 emissions. The strategy to achieve the targets include a focus on portfolio construction, engagement as well as fund manager mandates. The statement from BTPS reads, “these targets are aligned with, and a key enabler of, the Scheme’s goal to achieve net zero greenhouse gas emissions (scope 1-3) by 2035 across its entire £57bn portfolio. These targets are consistent with the Net Zero Asset Owner Alliance (NZAOA) and Institutional Investors Group on Climate Change (IIGCC) net zero frameworks”.