Leanne Clements was named head of responsible investment for U.K. defined contribution multiemployer plan The People's Pension, its sponsor said in a news release Thursday. .
The £17 billion ($19.6 billion) plan is sponsored by B&CE, West Sussex.
The position is new and Ms. Clements, who started this month, will develop B&CE's approach to responsible investing, the news release said.
The People's Pension has already applied a carbon tilt on some assets in its default fund that has reduced carbon emissions from fossil fuel reserves by 50%, and they work closely with asset manager State Street Global Advisors on engagement and shareholder voting activity, a spokesman said in an email. Ms. Clements will assess additional steps needed, he said.
Jon Cunliffe, managing director of investments at B&CE, said in an April blog post that in addition to ESG integration, B&CE has used negative screens to divest £226 million from 147 companies involved in controversial weapons or linked to controversies involving human rights, labor, the environment and corruption.
Ms. Clements was head of stewardship for the U.K. and Europe for Carbon Tracker Initiative, an independent financial think tank that analyzes the impact of climate change on capital markets and investments. Information about her replacement there was not immediately available.
