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January, 2012:
Norway divests $2 billion from tobacco companies
| Today, the Norwegian Government announced that it will divest its funds from all companies which take more than five percent of their profits from tobacco production.
The Norwegian government pension fund, Global, which according to www.pensionfundsonline.co.uk is considered to be the world’s second largest pension fund, has till recently held huge interests in the tobacco industry. The Norwegian Minister of Finance, Ms Kristin Halvorsen, today announced that Norway will divest USD 2.1 billion which is currently invested in the tobacco industry and replace this with other stocks. A debate over categorical divestment of tobacco companies from the state-owned government pension fund has been going on in Norway since 2004 when ethical guidelines were introduced for the fund. Tobacco control activists from a number of national non-governmental organisations have rallied the politicians since the guidelines were introduced, arguing that the investments are neither morally viable nor economically sensible. “We are very proud to have taken part in moving tobacco control one step further toward halting the death toll from tobacco,” said the Secretary General of the Norwegian Cancer Society, Ms Anne Lise Ryel.“By divesting from tobacco stocks our politicians have shown clearly and demonstrably that they prioritize public health and are willing to stand up and fight the detrimental health consequences caused by tobacco worldwide.” According to WHO tobacco is the biggest preventable cause of disease globally, with an annual death toll of 5.4 million. This number is expected to rise to eight million a year by 2030 unless urgent action is taken. Currently 70 percent of deaths take place in the developing world. “The significant point about divestment is its flow on effect: we fight back at an industry which draws its enormous profits from very cynical marketing tactics and unethical practices in countries without the capacity to introduce strict regulations,” said Ms. Ryel. “The tobacco industry is exploiting vulnerable populations in developing countries to fill their own pockets. Norway today has taken clear action to show that it wants no part in this practise.” The newly released guidelines for WHO’s Framework Convention on Tobacco Control (FCTC), currently ratified by 164 countries worldwide, clearly states that governments should divest all holdings in tobacco companies in order to keep public health interests apart from economic influence. “As far as we know Norway is the first country to follow the recommendation set out by WHO but we are expecting this to set an important precedence to be followed by other governments,” said Laurent Huber, Director of the Framework Convention Alliance. “We are aware that countries like Holland and Denmark also have big state-owned pension funds which are not consistent with the recent guidelines released on industry interference. We call on those governments to step up and follow the lead taken by Norway today,” he said. |
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When: 21 June 2011
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Tobacco Watch 2011 report
The 15th World Conference on Tobacco or Health
takes place 20 – 24th March 2012 in Singapore
Destroyed documents: uncovering the science that Imperial Tobacco Canada sought to conceal
Background: In 1992, British American Tobacco had its
Canadian affiliate, Imperial Tobacco Canada, destroy internal
research documents that could expose the company to
liability or embarrassment. Sixty of these destroyed documents
were subsequently uncovered in British American
Tobacco’s files.
Methods: Legal counsel for Imperial Tobacco Canada provided
a list of 60 destroyed documents to British American
Tobacco. Information in this list was used to search for
copies of the documents in British American Tobacco files
released through court disclosure. We reviewed and summarized
this information.
Results: Imperial Tobacco destroyed documents that
included evidence from scientific reviews prepared by
British American Tobacco’s researchers, as well as 47 ori –
gin al research studies, 35 of which examined the biological
activity and carcinogenicity of tobacco smoke. The documents
also describe British American Tobacco research on
cigarette modifications and toxic emissions, including the
ways in which consumers adapted their smoking behaviour
in response to these modifications. The documents
also depict a comprehensive research program on the
pharmacology of nicotine and the central role of nicotine
in smoking behaviour. British American Tobacco scientists
noted that “… the present scale of the tobacco industry is
largely dependent on the intensity and nature of the pharmacological
action of nicotine,” and that “… should nicotine
become less attractive to smokers, the future of the
tobacco industry would become less secure.”
Interpretation: The scientific evidence contained in the
documents destroyed by Imperial Tobacco demonstrates
that British American Tobacco had collected evidence that
cigarette smoke was carcinogenic and addictive. The evidence
that Imperial Tobacco sought to destroy had important
implications for government regulation of tobacco.
Background: In 1992, British American Tobacco had itsCanadian affiliate, Imperial Tobacco Canada, destroy internalresearch documents that could expose the company toliability or embarrassment. Sixty of these destroyed documentswere subsequently uncovered in British AmericanTobacco’s files.Methods: Legal counsel for Imperial Tobacco Canada provideda list of 60 destroyed documents to British AmericanTobacco. Information in this list was used to search forcopies of the documents in British American Tobacco filesreleased through court disclosure. We reviewed and summarizedthis information.Results: Imperial Tobacco destroyed documents thatincluded evidence from scientific reviews prepared byBritish American Tobacco’s researchers, as well as 47 ori -gin al research studies, 35 of which examined the biologicalactivity and carcinogenicity of tobacco smoke. The documentsalso describe British American Tobacco research oncigarette modifications and toxic emissions, including theways in which consumers adapted their smoking behaviourin response to these modifications. The documentsalso depict a comprehensive research program on thepharmacology of nicotine and the central role of nicotinein smoking behaviour. British American Tobacco scientistsnoted that “… the present scale of the tobacco industry islargely dependent on the intensity and nature of the pharmacologicalaction of nicotine,” and that “… should nicotinebecome less attractive to smokers, the future of thetobacco industry would become less secure.”Interpretation: The scientific evidence contained in thedocuments destroyed by Imperial Tobacco demonstratesthat British American Tobacco had collected evidence thatcigarette smoke was carcinogenic and addictive. The evidencethat Imperial Tobacco sought to destroy had importantimplications for government regulation of tobacco.
Download full PDF : cmaj.080566.full
Tobacco-free campus guide
Why we should make campuses tobacco-free
– and how to do it
Why we should make campuses tobacco-free– and how to do it
Download PDF : Tobacco_Free_Campus_Guide_web_final
Heat on Labor over tobacco investments
Clancy Yeates
January 9, 2012
THE Gillard government is facing pressure to stop its multibillion-dollar Future Fund from investing in the tobacco industry and in companies that make nuclear weapons.
The Future Fund, which was set up by the former Howard government to help meet the long-term cost of public sector superannuation liabilities, revealed last year that it held $147 million worth of shares in cigarette producers.
The Greens, on whom the government depends to pass legislation in the Senate, plan to increase pressure for the fund to ditch the big tobacco stake and a separate $179 million holding of shares in companies involved in nuclear weapons production.
When the Senate resumes sitting next month after the summer break, the Greens will push for rules forcing the fund to divest its ”unethical” holdings.
Greens Senator Richard Di Natale, who introduced a bill on the subject late last year, said it was a ”no brainer” for the Future Fund to offload its tobacco and nuclear holdings.
Senator Di Natale said it was completely inconsistent for the government to fight big tobacco with ”courageous” plain packaging laws, and ”then on the other hand to be investing $147 million in large multinationals who make the stuff”.
The plain-packaging laws were passed late last year, and Philip Morris has already lodged a legal claim saying the restrictions damaged its property.
While the government has refused to tell the fund what to invest in, Senator Di Natale said selling the shares would have little effect on the $73 billion fund’s returns.
”It would be very easy to divest ourselves of those shares without any impact on the bottom line, and I think it would be the socially responsible thing for the government to do.”
Previously, the fund has defended its investments in the companies on the grounds that they are not involved in illegal activities. The government has refused to intervene in its independent investment decisions.
However, there are overseas precedents for governments intervening in how public funds are invested. In October, the Canadian state of Alberta sold $US17.5 million worth of tobacco shares because it was suing tobacco firms for healthcare costs caused by smoking.
Norway’s sovereign wealth fund sold its investments in tobacco in 2010, and has guidelines preventing investing in companies that damage the environment.
The Future Fund last year sold its holdings in companies that make cluster bombs and land mines – including defence giant Lockheed Martin – before a new treaty on the bombs came into force.
When Future Fund general manager Mark Burgess was questioned about the tobacco and nuclear investments in October, he said it was updating its environmental, social and governance strategy.
It is understood some government MPs are sympathetic to the Greens’ argument, but Finance Minister Penny Wong has stressed the need for the fund to make arm’s length investment decisions.
The fund’s record on social and environment issues was scrutinised last year when evidence emerged that its board had never discussed climate change.
Poll: Should the federal government’s Future Fund invest in tobacco companies?
Poll form
1. Please select an answer. Yes
2. No
3. View results
Yes
14%
No
86%
Councils told to stub out big tobacco pension deals
http://www.independent.co.uk/news/uk/politics/councils-told-to-stub-out-big-tobacco-pension-deals-6293702.html
Campaigners take on town halls over £2bn investment as they prepare to take healthcare role
Tuesday 24 January 2012
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Tobacco is responsible for more than 100,000 avoidable deaths in the UK every year
Hundreds of millions of pounds of taxpayers’ money has been invested in the tobacco industry by councils which next year take on responsibility for public health, an investigation by The Independent has revealed.
Councils across England and Wales have at least £1.3bn of employee pension funds invested in tobacco companies such as Imperial and British American Tobacco, though the true figure is likely to top £2bn, with individual local authorities investing up to £125m each. The revelation last night prompted widespread condemnation from public health leaders trying to reduce the burden of smoking on the NHS.
It follows an announcement by the Health Secretary, Andrew Lansley, that £5.2bn will be available for public health spending in the year from April 2013, with councils set to receive just over £2bn to help reduce health inequalities and promote healthier lifestyles.
Last night health campaigners accused councils of a serious conflict of interest that would undermine the credibility of their public health efforts.
Martin Drockrell from Action on Smoking and Health (ASH) said: “When you consider the entire spend on public health for England, it looks like many councils have more money tied up in tobacco shares than they will be spending on protecting children and helping smokers to quit.”
Councils have long faced questions about the ethics of investing huge sums in the tobacco industry when smoking is Britain’s biggest killer. Concerns have been raised about the objectivity of their response to a forthcoming public consultation about the introduction of plain packaging. Health experts and tobacco firms believe this would significantly reduce sales, potentially damaging share prices and investors.
Lindsey Davies, president of the Faculty of Public Health, said: “This is a clear conflict of interest that will undermine councils’ credibility and the public’s trust in the health services they receive. We urge all councils to use the many alternative and more ethical, forms of investment for their pension funds that still maximise financial return.”
Reducing smoking rates – stubbornly stuck at 21 per cent – is one of the greatest challenges facing health officials. Tobacco is responsible for more than 100,000 avoidable deaths from lung cancer, heart disease and chronic obstructive airways disease in the UK every year. Council pension funds insist they are duty bound to maximise financial return and cannot consider ethical issues. But a new report by Fair Pensions and ASH, seen exclusively by The Independent, says this is a simplistic, outdated interpretation of the law.
The report also claims that tobacco companies are no longer low-risk, high-profit investments as tighter regulation, higher taxes and outstanding law suits will hit long-term profit margins.
The London Borough of Newham Pension Fund statement of principles in 2010-11 excludes tobacco companies on the basis that outstanding litigation poses an investment risk. Not all analysts agree. Edmund Salveson from Brewin Dolphin said tobacco firms remained a “safe haven” for investors, having proven themselves adept at dealing with legal and regulatory challenges. Both BAT and Imperial said they continue to outperform the market and have long-term sustainable businesses.
Most councils adopt this position. Camden has the largest proportion, 3.7 per cent of its pension fund is in tobacco, while West Yorkshire has the single largest value amount of £125m. Many other local authorities, such as Berkshire, have no direct investment in tobacco but have invested in global tracking funds such as the FTSE 100, of which tobacco companies make up 2 per cent. Campaigners claim a council’s duty to protect the wellbeing of its citizens and minimise the burden on the public purse from smoking outweighs any duty to pension trustees.
But Councillor Ian Greenwood, chair of West Yorkshire Fund, said: “When councillors are involved with a pension fund they act as trustees and their sole responsibility is to its beneficiaries and should not have any political influence.”
Legal suit against plain packaging commenced
| 24 Jan 2012. Eleven senior counsel representing four tobacco companies and the federal government today appeared before High Court Justice William Gummow, reports the Daily Telegraph. |
| The meeting comes in preparation for the three-day hearing starting on 17 April in Canberra.
The counsels include Allan Myers QC, Alan Archibald QC and Bret Walker SC, three of Australia’s highest paid barristers. Philip Morris, British American Tobacco Australasia, Imperial Tobacco Australia and Japan Tobacco International are suing the government, claiming plain packaging violates the Australian Constitution because the government is trying to take their brands without paying compensation. The plain packaging laws were passed by Parliament in November, but the introduction of the green packaging with health warnings will not come into effect until December this year. (pi) |
Australian Ethical: we don’t invest in guns, tobacco or pollution
Sydney Communications agency I.D.E.A.S is behind a campaign for Australian Ethical Investment that introduces the new slogan ‘Positive wealth creation’.
The campaign – titled ‘wake up’ – is based on the insight that many people do not know what their superannuation is invested in.
Max Landrak, creative director at IDEAS, said: ”Ethical investing can be a difficult concept to get across. We found that it’s a lot easier to explain to people what Australian Ethical don’t invest in.”
The campaign will run in print and online.
Paul Smith, GM of strategy and communication at Australian Ethical said: “Australian Ethical has a very clear position in the superannuation and investment space and we wanted a creative campaign that communicated this to new and existing customers alike”.
Credits:
- · Campaign: ‘Wake Up’
- · Executions: ‘Cigarettes’, ‘Guns’, Pollution’
- · Client: Australian Ethical
- · Client contacts: Paul Smith, General Manager, Strategy & Communication, Stephen Hyam, Marketing Manager
- · Agency: I.D.E.A.S.
- · Flash: Jimmy Pownall
- · Creative director: Max Landrak
http://mumbrella.com.au/australian-ethical-we-dont-invest-in-guns-cigarettes-or-pollution-71884
No space for cigarettes in HK public libraries
http://asiancorrespondent.com/74210/no-space-for-cigarettes-at-hk-public-libraries/
The ban on smoking in certain premises do not only refer to physically lighting up cigars. The Hong Kong Public Library took it a step further to declare that any mention of cigarette products in any of its periodicals were promptly dealt with.
Proof is a page taken out of Popular Mechanics that is actually an advertisement of a “100% organically grown” tobacco. Oops, it is still visible through the white censor sheet but nevertheless, it is a consistent effort to suppress the promotion of cigarettes and tobaccos in public library premises.
Dark Knight 1 comment collapsed Collapse Expand
the main problem is the law was made deliberately potholed. Many bars still allow patrons to smoke, patios and outdoor seating areas of bars and restaurants still allow smoking and there should be a ban of say 10 meters from doorways. Overseas they rightly place the onus on licensees to ensure there is no smoking in the premises, or lose their licence to operate and sell liquor – not so in HKG where they prosecute the smokers only. Again the tobacco friendly Government allocates only 100 tobacco control officers for two shifts for the whole of HKG – that means they only operate on complaints and several days later. They actually have to catch someone smoking which is difficult in the upstairs bars. Luckily the apathetic Chief Executive wil be replaced in July but probably by a nincompoop who used to be his number 2 in prevarication and passing of flawed legislation that suits their business friendly colleagues in the Liberal Party.
Like, the biggest combined bus company is New World First Bus / Citybus and the Govt admits the roadside pollution comes from old diesels and buses but does nothing – maybe to do with the fact that Donald Tsang’s brother Tsang Yam Pui, the ex commission of police, is dep chairman of the bus company on HKD 8.8 million per year (after his pension).
It sucks.
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Frankie Fook-lun Leung 1 comment collapsed Collapse Expand
Hong Kong citizens are law-abiding by and large. PRC people ignore notices of no smoking and smoke as if there were no prohibition. This reflects the cultural differences between H K and the Mainland.
British heart group calls for plain tobacco packs
http://www.reuters.com/article/2011/12/29/us-british-tobacco-packs-idUSTRE7BS0P020111229
LONDON | Thu Dec 29, 2011 11:23am EST
LONDON (Reuters) – Heart health campaigners urged the British government Thursday to follow Australia’s lead and ban all eye-catching designs and branding from cigarette packs to stop young people being lured into smoking.
Australia is preparing to become the first nation to introduce so-called “plain” packaging on tobacco products by the end of 2012. The packs will show graphic health warnings about smoking but banish attractive colors and logos.
A survey by the British Heart Foundation charity released on Thursday found that more than a quarter of young people make assumptions about the relative harm of cigarettes based on the packaging alone.
The survey, which collated responses from more than 2,700 16 to 25 year-old smokers and non-smokers, found that three quarters of those who responded thought selling cigarettes in packs with no colorful brands or logos, and larger health warnings, would make it easier for people to smoke less or quit.
One in six, or 16 percent, said they would consider the pack design when deciding which cigarettes to buy, and 12 percent said they would choose a brand because it was considered ‘cool’.
Experts say half of all smokers will eventually die of a tobacco-related disease and the World Health Organization (WHO)describes tobacco as “one of the biggest public health threats the world has ever faced.”
Smoking causes lung cancer, which is often fatal, and other chronic respiratory diseases. It is also a major risk factor for cardiovascular disease, the world’s number one killer.
The BHF is calling for the introduction of plain packaging which has no eye-catching colors or brands but is mostly covered with graphic warnings about the health dangers of smoking. An example of the sort of packs they would like to see is here: bit.ly/sqTlRg
The British government is due to start a public consultation early in 2012 on whether the nation should switch to plain packaging for tobacco.
“As informed adults we know that smoking is a deadly addiction,” said Betty McBride, BHF’s director of policy and communications. “But young people are not always fully aware of the risks, and the power of branding holds more sway.”
Australia is planning to complete the introduction of its tough and world-first legislation by the end of 2012. The proposed law was cleared by parliament in November and is being closely watched by governments considering similar moves in Europe, Canada and New Zealand.
But it has angered cigarette makers and three of the world’s four largest tobacco firms, Philip Morris International, British American Tobacco and Imperial Tobacco are fighting it in Australia’s High Court.
In Britain, Health Secretary Andrew Lansley says he is eager to cut the number of young people who take up smoking. Smoking-related illnesses kill 80,000 Britons a year and Lansley has said dissuading people from taking up the habit is a public health priority.
Government data show some 200,000 children and young people in England start smoking each year and more than two thirds of Britain’s 10 million smokers started before they turned 18.
Tobacco advertising is banned in the UK, but campaigners say the fact that tobacco companies can still use their packs to promote their brand is “an absurd loophole” in the law.
“The tobacco industry takes full advantage … to lure in new young smokers,” McBride said.