BT Pension Scheme Management Limited trading as Brightwell
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:695.1 tCO2e
Scope 1 Emissions:0 tCO2e
Scope 2 Emissions:24.0 tCO2e
Scope 3 Emissions:671.1 tCO2e
Renewable Energy Share:100% (London and Chesterfield offices)
ESG Focus Areas
- Climate change
- Natural capital
- Inequality
Environmental Achievements
- Switched London and Chesterfield offices to 100% renewable energy in October 2023, minimizing Scope 2 emissions.
- Offset 118 tonnes of CO2 related to employee business travel and energy usage (prior year: 125 tonnes).
Social Achievements
- Introduced a gender-neutral enhanced parental leave policy with 26 weeks’ full pay for all eligible parents.
- Launched the Brightwell Pensions Academy, winning two awards for training and innovation.
- Launched a volunteering day initiative, allowing all colleagues one paid day off per year for volunteering.
Governance Achievements
- Established a new Sustainability Strategy Group.
- Published first TCFD report for the calendar year ending 31 December 2023.
Climate Goals & Targets
Long-term Goals:
- Achieve net zero greenhouse gas emissions by 2035.
Medium-term Goals:
- Achieve net zero greenhouse gas emissions by 2035.
Short-term Goals:
- Improve emissions data, direct emissions reduction activities, and emissions reporting requirements.
Environmental Challenges
- Reducing Scope 3 emissions (99% of total emissions), primarily from goods and services purchased.
- Obtaining accurate data on supplier emissions.
- Addressing inequality issues such as human rights, modern slavery, and DE&I.
Mitigation Strategies
- Engaging with top-25 suppliers to understand their emissions reduction plans and reporting.
- Introducing emissions-related criteria for evaluating new suppliers.
- Implementing DE&I initiatives, including data collection, inclusive recruitment, and training.
Supply Chain Management
Responsible Procurement
- ESG criteria for evaluating new suppliers.
- Supplier questionnaires including sustainability-related questions.
Climate-Related Risks & Opportunities
Physical Risks
- Physical risk to buildings, staff and infrastructure
Transition Risks
- Regulatory risk
- Reputational risk
Opportunities
- Investments in new technologies
Reporting Standards
Frameworks Used: TCFD
Third-party Assurance: Omnevue
Awards & Recognition
- Training Scheme of the Year at the Professional Pensions Rising Star awards
- Innovation in Learning, Development and Talent Retention awards at the Pensions Management Institute’s Pinnacle Awards