We’re going tobacco-free
October 02, 2018
We joined finance leaders, health officials and governments from around the world and pledged to go tobacco-free.
By signing the pledge, we’re committing to divesting all direct tobacco holdings in our portfolio.
“Given the reputational, social and commercial headwinds facing the tobacco industry today, we are no longer confident that tobacco represents an attractive investment opportunity for a long-term investor,” said Barbara Zvan, our Chief Risk and Strategy Officer.
“Signing this pledge reinforces and institutionalizes our conviction that tobacco is no longer a sensible investment for our fund.”
We intend to exclude businesses involved in the production of tobacco from our portfolio.
How does butting out of tobacco affect your pension?
Our fiduciary duty, ensuring your and future generation’s pension, is our driver. We consider and assess risk factors that may have a material impact on the plan’s financial performance, including our reputation, over both short and long-term horizons.
We’ll exclude investments that pose risks that cannot be mitigated and that outweigh potential returns.
We believe this decision will help our returns over the long term.