It should be indisputable to say that smoking is harmful to health, only to be proven by countless medical researches conducted over the decades that study the interrelation between smoking and health. Although the World Health Organization and governments around the world have put numerous efforts in advertising the bads of smoking, the financial sector has always occupied an embarrassing position as the tobacco industry is after all a profitable entity due to its business nature. The sector has been supporting the tobacco industry, at least indirectly, through such means as having a tobacco-related component in superannuation fund.

In light of this, there is an increasing demand of tobacco-free business from the financial sector itself. Companies and organizations are forming alliance in order to decrease volume of investing into tobacco businesses as well. As ESG elements are being increasingly emphasized, leaders from the sector are at the same time using their power to address one of the most pressing problems of public health for the century. Among such collaborations is Tobacco-Free Finance Pledge, inaugurated during the recent General Assembly of the United Nations and formed by influential bodies such as AXA and AMP Capital, aiming to demonstrate the willingness of the financial sector to fight against the negative aspects of tobacco to the human race.

 

Image source: Freepik

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