No, the only thing that needs to be modified for an Anaconda environment is the PATH (so that it gets the right Python from the environment bin/
directory, or Scripts\
on Windows).
The way Anaconda environments work is that they hard link everything that is installed into the environment. For all intents and purposes, this means that each environment is a completely separate installation of Python and all the packages. By using hard links, this is done efficiently. Thus, there's no need to mess with PYTHONPATH because the Python binary in the environment already searches the site-packages in the environment, and the lib of the environment, and so on.