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In the latest ESG Leaders video interview with leading asset owners, BTPS CEO Morten Nilsson speaks with Responsible Investor’s Daniel Brooksbank about how the fund is responding to the threat of climate change and the impact it will have on its investments - and its relationships with its asset managers.
This month the BT Pension Scheme set out an ambitious net zero goal for its entire £55bn (€60.6bn) portfolio.
The move will see all its investment mandates aligned with the net zero goal over time with the scheme saying it “select and retain” managers that it believes can achieve this.
“When I look at the scenarios, it’s either negative or extremely negative… for instance the icecap is melding faster than scientists expected,” Nilsson says. “So it’s only prudent for us to regard this as a significant risk and take appropriate action.”
The move is taking place as beneficiaries…