Head Rambles – A sideways look at life by an Irish Grandad
The THR blog -
Head Rambles – A sideways look at life by an Irish Grandad
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Smoking is controversial, eliciting strong views from many people. Investment in the tobacco industry can be equally controversial for some. The question is whether the “ethical” approach to investing in the sector is really ethical at all, or simply an expression of prejudice against smokers and the smell of tobacco smoke.
In April 2016 it was announced that the California Public Employees Retirement System, or CalPERS, was reviewing the policy it had adopted in 2000 to divest from the tobacco industry. On its own estimates the policy had cost the fund some $3bn in gains foregone, a real cost to pensioners past, present and future of the fund. There was also a suggestion of other insurance companies following a similar strategy, albeit only for a limited proportion of the funds that they control.
Head Rambles – A sideways look at life by an Irish Grandad
The THR blog -
Head Rambles – A sideways look at life by an Irish Grandad