The Tobacco Free Finance Pledge

Transcript

1 The Tobacco - Free Finance Pledge the financi of tobacco companies — across lending, insurance and investment — is essential to Addressing ng can play a global effort s . The finance sector tobacco control positive role in addressing global comprehensive such as the tobacco epidemic. With seven million deaths worldwide each yea health priorities , r and a ue to tobacco - related illnesses, g lobal and multi - stakeholder forecast of one billion deaths this century d tackle the devastating impact of tobacco on society , as well as on the collaboration is needed to environment . e recognise the significance of the W Sustainable Development G oals (SDGs), particularly United Nations’ SDG 3 - Good Health and Well - Being and SDG 17 - Partnerships for the Goals, and also recognise the World z first global Framework Convention on Tobacco Control, the Health Organi public health treaty . ation - ree Finance Pledge builds on key global finance initiatives such as the Investor The Tobacco F , produced in 2017 by the UN - supported Principles Statement in Support of World No Tobacco Day t (PRI) for Responsible Investmen UN Environment Programme Principles for Sustainable Insurance , and Tobacco Free Portfolios. (PSI) W e choose to be part of the solution to ensure a tobacco - free world for present and future generations . Therefore , he Tobacco - Free Finance Pledge , we commit to the following actions : by signing t and Collaborate lending to, investing in , to raise awareness of the issue of insuring tobacco • . companies Encourage the adoption of tobacco - free finance policies across lending, investment and • insurance . Encourage lending, investment and insurance policies alignment of with the aims of the • the United Nations’ Sustainable Development Goals and the orld H ealth O rgan iz ation Framework W Convention on Tobacco Control . • Consider f orm ing or support ing partnerships within or across sectors to promote tobacco control initiatives . Help guide a widespread transition towards tobacco - supporting activities that build • free finance by tobacco free finance. knowledge and understanding of - E • organi z ations to become signatories to or supporters of the Tobacco - Free ncourage more Finance Pledge . • Gather again in two years ’ time with an expanded global network committed to the Tobacco - Free Finance Pledge . Signed by [ See Item 3] / S upported by [See Item 4] The Tobacco - Free Finance Pledge is an initiative founded by Tobacco Free Portfolios and developed in collaboration with UNEP FI, PSI, PRI, AXA, BNP Paribas , Natixis and AMP Capital:

2 Appendix Definitions 1. derived from tobacco . • Tobacco: Products companies Tobacco : Companies that manufacture complete tobacco products, regardless of the • portion this represents of the overall operations of the business . public endorsement and support ( that may • if appropriate , Partner/Partnerships: Providing , ) . include financial support • - free: The exclusion of businesses involved in the manufacture of complete tobacco Tobacco products (as distinct from transport, packaging and retail) . Finance: Finance is collective term that encompasses banking (lending and investing), • used as a insurance, investment management, and other types of financial services (including advice) . Background on the Tobacco-Free 2. Pledge Finance Tobacco Free Portfolios is working to address what has been the missing link in global tobacco control. The Pledge was founded by Tobacco Free Portfolios and developed in collaboration with the United Nations’ Environment Programme Finance Initiative (UNEP FI), PSI, PRI, AXA, BNP Paribas , Natixis and AMP Capital. In the past five years, tobacco-free decisions have been made in at least 12 countries by major global financial institutions, including ABP (the largest pension fund in Europe), AXA (one of the world’s largest insurers), BNP Paribas (one of the world’s largest banks), AMP Capital, ABN-AMRO, Natixis, BT Financial Group; some of the largest pension funds in France (Fonds de Reserve Pour les Retraites), Sweden (AP4), Australia (Australian Super) and the US (CaIPERS); the Irish Sovereign Investment Fund, and the Bank of New Zealand. The objectives of the Tobacco-Free Finance Pledge are to: • Highlight the leadership of financial institutions that have implemented tobacco-free finance policies and encourage others to follow suit. Encourage the finance sector to play an active role in addressing global priorities, as outlined in the • United Nations’ Sustainable Development Goals , including SDG 3 - Health and Well-Being and SDG 17 the - Partnerships for in addition to the World Health Organization Framework Convention Goals, on Tobacco Control. • Raise awareness among financial institutions of the essential role the finance sector must play to assist effective tobacco control and to ensure a tobacco-free world. • with tobacco companies. De-normalise financial and corporate associations • Encourage financial institutions to reflect on and reconsider their business relationships with the tobacco industry in light of the global tobacco epidemic. • Encourage the transition towards tobacco-free finance policies. • Prioritise tobacco on the corporate agenda as a product and industry distinct from any other with no safe level of use and no opportunity for effective engagement.

3 3. Wh sign t he Tobacco - Free Finance Pledge? o should Signatory organisations • Financial institutions: Banks, pension and superannuation funds, insurance and reinsurance companies and intermediaries, o sovereign wealth funds, investment managers , asset consultants and advisors. foundations: • Philanthropic private and family foundations . Corporate, o University endowments . • Other organisations in lending, insurance or investment • , and not mentioned in the participating - . sub categories mentioned above - Free Finance Pledge ? 4. Who should support the Tobacco Supporting institutions B anking, insurance and investment • associations ; i nstitutes and initiatives; financial regulatory and supervisory authorities; civil society organisations; and other institutions that work with the finance sector . 5 . Further esources r ) Investor in Support of World No Tobacco Day 2017 (see • release Statement press • WHO Framework Convention on Tobacco Control • UN Sustainable Development Goals th 17 World Conference on Tobacco • or Health Declarations 6 . Project website Tobacco-Free Finance Pledge • web page 7 . Contact s • Dr. Bronwyn King: [email protected] tobaccofreeportfolios.org • Ms. Clare Payne: [email protected] tobaccofreeportfolios.org • Dr. Rachel Melsom: [email protected] tobaccofreeportfolios.org

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