France: BNP Paribas Asset Management to exclude tobacco stocks from its managed funds as part of responsible investment policy
Author: Aamina Zafar, Financial Adviser (UK), Published on: 5 March 2018
"BNP Paribas to stub out tobacco stocks from active range", 2 Mar 2018
BNP Paribas Asset Management will exclude tobacco stocks from its entire active range as part of a commitment to responsible investing. The removal of tobacco stocks...will join the existing exclusions of controversial weapons and asbestos. The decision was taken because of concerns about public health, with seven million people dying annually from tobacco-related causes. Frederic Janbon, chief executive of BNPP AM, said: "BNP Paribas Asset Management is one of the first global asset managers to exclude tobacco from its mainstream investments, and as a leading player we are committed to being a responsible investor in all aspects of our business."...The process of exclusion will be phased in gradually by the end of the year...
Related companies: BNP Paribas