53 investors, health systems, pension funds and insurers, representing US$3.8 trillion in assets under management, have signed a to World Health Organization (WHO) representatives and national health ministers openly supporting stronger regulation around tobacco control.
The statement was released today, on World No Tobacco Day – marked every year on 31 May. Its purpose is to highlight the threat posed by tobacco consumption to global health and economic well-being. It builds on international support for SDG Target 3.a which looks to strengthen the implementation of the WHO Framework Convention on Tobacco Control.
In this vein, several institutions have come together to lend their support to global action against tobacco, to openly support tobacco control measures already taken by governments, and to encourage further action. The statement, led by AMP Capital, AXA, CalPERS and SCOR, recognises the significant economic impact of tobacco.
The vision of the Principles for Sustainable Insurance Initiative is of a risk-aware world, where the insurance industry is trusted and plays its full role in enabling a healthy, safe, resilient and sustainable society. The tobacco issue is an example of an Environmental, Social and Governance issue relevant to the PSI, whether from the perspective of an insurer or an investor.
Other investors wishing to join this global movement can still sign the statement . This statement will remain open for others to sign until 27 September, the final day of PRI in Person, the Principles for Responsible Investment’s annual gathering of responsible investors, held this year in Berlin.
See the press release as a with images and useful links.
Download the PDF version of the press release.