The Case against Investing in Tobacco
Dr. Bronwyn King, an oncologist, persuaded 34 Australian superannuation funds to divest from tobacco manufacturers. Tobacco stands alone when compared to all other industries or products. Firstly, there is no safe level of exposure. When used as intended, tobacco will have contributed to the early death of two out of three smokers. Secondly, the scale of the negative impact of tobacco is profound, causing an estimated six million deaths per year globally. Thirdly, positive influence of the industry through professional engagement is futile. The eventual outcome from King's initiative Tobacco Free Portfolios is for the finance sector to have a tobacco free investment mandate.
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