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    BT.A   GB0030913577

BT GROUP PLC

(BT.A)
  Report
Delayed Quote. Delayed London Stock Exchange - 06/18 11:35:14 am
199.95 GBX   -2.75%
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BT : pension scheme aims for net zero carbon emissions in investments by 2035

10/08/2020 | 07:10am EDT
FILE PHOTO: British Telecom (BT)'s headquarters is seen in central London

LONDON (Reuters) - The BT Pension Scheme said on Thursday it aimed to achieve net zero carbon emissions across its investment portfolio by 2035, aligning it with the goals of the 2015 Paris climate change agreement.

The 55 billion pounds fund, Britain's biggest corporate pension scheme, invests on behalf of 300,000 current and former members of telecoms company BT Group.

While many companies and other investors are committing to net zero carbon emissions by 2050, by aligning with the Paris timeline, the BTPS plan is more ambitious.

BTPS said over time all of the investment mandates it awards to asset managers would be aligned with the goal and they would need to report progress to the scheme against a net zero climate scorecard.

In turn, the asset managers will need to engage with the companies they invest in on behalf of the BTPS to set their own net zero emissions objectives, and if not enough progress is made, the scheme said it could sell its stake.

"As the global economy looks for ways to recover from the impact of the pandemic, we have an opportunity to do things differently," BTPS Management Chief Executive Morten Nilsson said in a statement.

"Over the next 15 years, the Scheme will be re-investing the majority of its assets and, as we look to deliver the best returns, we must not waste this opportunity to support a cleaner and greener future."

(Reporting by Simon Jessop; Editing by Tom Arnold and Jane Merriman)

By Simon Jessop


© Reuters 2020
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More news
Financials
Sales 2022 21 186 M 29 265 M 29 265 M
Net income 2022 1 649 M 2 277 M 2 277 M
Net Debt 2022 17 405 M 24 041 M 24 041 M
P/E ratio 2022 12,1x
Yield 2022 3,75%
Capitalization 20 372 M 28 110 M 28 140 M
EV / Sales 2022 1,78x
EV / Sales 2023 1,81x
Nbr of Employees 99 700
Free-Float 74,3%
Chart BT GROUP PLC
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Technical analysis trends BT GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 197,69 GBX
Last Close Price 205,60 GBX
Spread / Highest target 50,8%
Spread / Average Target -3,85%
Spread / Lowest Target -51,4%
EPS Revisions
Managers and Directors
NameTitle
Philip Eric Rene Jansen Chief Executive Officer & Executive Director
Simon Jonathan Lowth Chief Financial Officer & Executive Officer
Jan Petrus du Plessis Chairman
Howard Watson Chief Technology & Information Officer
Iain C. Conn Senior Independent Director
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