The Tobacco-Free Finance Pledge highlights the leadership of financial institutions that have implemented tobacco-free finance policies and encourage others to follow suit.
The Pledge currently has 190+ signatories as well as a number of supporters representing:
- USD 16+ trillion in Assets Under Management
- USD 2.6 trillion in Corporate Loan Book
- USD 265.5 billion in Gross Premiums
1. Why Sign the Pledge?
Tobacco causes eight million premature deaths worldwide every year and is forecast to cause one billion deaths this century. Global collaboration is needed to tackle the devastating impact of tobacco. The Pledge recognises the significance of the World Health Organization Framework Convention on Tobacco Control (WHO FCTC) —the first global public health treaty established in 2005 in recognition of the global tobacco epidemic.
14 of the 17 SDGs will not be achieved if sectors continue to invest in, offer credit to and insure the tobacco industry. Learn how tobacco is impacting the SDGs here
Tobacco use is the single greatest preventable cause of death in the world today, currently on track to kill one billion people this century.
It is estimated that 33 million people are engaged in tobacco farming worldwide.20 In a report issued in March 2017, the International Labor Organisation stated that ‘in tobacco growing communities, child labor is rampant’.
Cigarette butts are the number one littered item worldwide. They foul waterways, are toxic to the environment and are not biodegradable.
Tobacco growing is responsible for biodiversity losses, land pollution through the use of pesticides, as well as soil degradation, deforestation and water pollution. Tobacco manufacturing is related to 30% of deforestation in Bangladesh.
Pledge Signatories are leading financial institutions that have implemented tobacco-free finance policies and encourage others to follow suit, thereby raising awareness among financial institutions of the essential role the finance sector must play to help achieve the SDG’s, reduce mortality from tobacco and improve global health.
2. Pledge Objectives
The key 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;
- 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;
- De-normalise financial and corporate associations with tobacco companies;
- Raise awareness among financial institutions of the essential role the finance sector must play to assist effective tobacco control;
- Encourage the transition towards tobacco-free finance policies.
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 managers; advisors and consultants.
- 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.
- Non-financial institutions:
- Charities; civil society organisations; not for profit organisations
- Advisors to and supporters of financial Institutions
Click here to sign the pledge.
- To learn more about the Tobacco Free Finance Pledge, please contact: email@example.com
- To learn more about Tobacco Free Portfolios and its activities, please visit The Tobacco Free Portfolios’ website.