Tobacco-Free Finance Pledge
- Corporate Loan Book $1.73 trillion
- AUM $5.04 trillion
- Gross Premiums $46.57 billion
Addressing the financing of tobacco companies—across lending, insurance and investment—is essential to comprehensive global tobacco control efforts. The finance sector can play a positive role in addressing global health priorities, such as the tobacco epidemic.
With seven million deaths worldwide each year and a forecast of one billion deaths this century due to tobacco-related illnesses, global and multi-stakeholder collaboration is needed to tackle the devastating impact of tobacco on society, as well as on the environment.
The Tobacco Free Finance Pledge recognises the significance of:
- the UN Sustainable Development Goals (SDGs)—particularly SDG 3 on health and SDG 17 on partnerships
- World Health Organization (WHO) Framework Convention on Tobacco Control—the first global public health treaty
It builds on key global finance initiatives such as the Investor Statement in Support of World No Tobacco Day, produced in 2017 by the UN-supported Principles for Responsible Investment (PRI), UN Environment’s Principles for Sustainable Insurance (PSI), and Tobacco Free Portfolios.
2. The Tobacco-Free Finance Pledge objectives
The objectives of the Tobacco-Free Finance Pledge are to:
- Highlight the leadership of financial institutions that have implemented tobacco-free finance policies and encourage others to follow suit.
- Encourage the finance sector to play an active role in addressing global priorities, as outlined in the United Nations’ Sustainable Development Goals, including SDG 3 Health and Well-Being and SDG 17 Partnerships for the Goals, in addition to the World Health Organization Framework Convention on Tobacco Control.
- Raise awareness among financial institutions of the essential role the finance sector must play to assist effective tobacco control and to ensure a tobacco-free world.
- De-normalise financial and corporate associations with tobacco companies.
- Encourage financial institutions to reflect on and reconsider their business relationships with the tobacco industry in light of the global tobacco epidemic.
- Encourage the transition towards tobacco-free finance policies.
- Prioritise tobacco on the corporate agenda as a product and industry distinct from any other with no safe level of use and no opportunity for effective engagement.
3. Who should sign the Tobacco-Free Finance Pledge?
- Financial institutions:
- Banks, pension and superannuation funds, insurance and reinsurance companies and intermediaries, sovereign wealth funds, investment managers, asset consultants and advisors.
- Philanthropic foundations:
- Corporate, private and family foundations.
- University endowments.
- Other organisations participating in lending, insurance or investment and not noted in the sub-categories mentioned above.
To become a signatory to the Pledge click here.
4. Who should support the Tobacco-Free Finance Pledge?
- Banking, insurance and investment associations, institutes and initiatives; financial regulatory and supervisory authorities; civil society organisations; and other institutions that work with the finance sector
To become a supporting institution to the Pledge click here.
5. Founding Signatories and Founding Supporters
Signatory organisations and supporting institutions include:
6. Tobacco-Free Finance Pledge Launch event: UN General Assembly week, New York, September 2018
Limited places are available to the PRI network to attend the Tobacco Free Finance Pledge Launch event.
Wednesday, 26 September 2018
8:00am – 9:30am
UNHW Conference Room 2
RVSP deadline: 17 September 2018
To RSVP for this event, complete the Attendee Information Form and email to: email@example.com
Note: the name/s provided on your form must match exactly to those documented on your passport.
To learn more about the Tobacco-Free Finance Pledge, please contact: firstname.lastname@example.org