Brightwell, the primary service provider to the £37bn (€43bn) BT Pension Scheme (BTPS), has decided to do without a head of sustainable investment role as it implements an integrated approach to sustainability in its investments.

As such, it is not looking to replace Victoria Barron, who resigned from the investor after four years at the organisation to explore new opportunities in sustainable investment.

Brightwell rebranded from BT Pension Scheme Management last year in connection with opening up its funding, fiduciary and member services capabilities to third-party defined benefit (DB) schemes.

“Brightwell’s approach is to embed sustainability throughout the investment process as part of our ‘one portfolio approach’,” said a spokesperson for Brightwell. “This integrated approach to sustainability is already being implemented through the wider Brightwell investment team.”

Barron joined what was then BTPS Management in 2020, from Newton Investment Management. Later that year the pension scheme announced a 2035 net zero emissions goal, joining the United Nations-convened Net Zero Asset Owner Alliance and becoming a public supporter of the Transition Pathway Initiative. 

One of Barron’s key contributions while at Brightwell was overseeing the development of the net zero strategy. She was also in charge of securing UK Stewardship Code signatory status for BTPS, which it has had since the Code was launched in 2021.

“I had a really great time working with BT Pension Scheme and now I’m currently contemplating my next move,” Barron told IPE. ”With all the innovation, change and creation of new solutions in the industry, there’s a lot to explore.” 

Speaking to IPE last year, Wyn Francis, chief investment officer of Brightwell, said the provider’s assessment at that point was that the net zero target still made sense and it was on track to meet it.

Barron remains a co-chair of the international investor initiative Assessing Sovereign Climate-related Opportunities and Risks (ASCOR)

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