Investors snub tobacco

FUND managers with investments worth £2.9trillion have pledged that they will stop investing in tobacco companies.

Investment groups Aza, Calpers, Scor and AMP Capital have sold or are selling tobacco investments.

The companies, along with 50 other firms, vowed to back tobacco control measures being taken by governments, on the anniversary of World No Tobacco Day – an initiative launched by the World Health Organisation.

They said in a statement: ‘We are becoming increasingly aware of the important role we can play in helping to address the health impacts of tobacco.’