Together with over 50 financial institutions, NN Group urges UN States on Tobacco Control
As part of the 57 financial institutions signing the Financial Sector Statement on Tobacco Control, NN Group urges governments to accelerate implementation of the of the World Health Organization Framework Convention on Tobacco Control (WHO FTC). The health concerns, societal costs and the negative sustainability impact of tobacco products do not correspond with our commitment to promote health and well-being.
57 leading financial institutions with over $ 2.9 trillion Assets under Management, spanning 10 countries launch an investor statement to calling upon Member States to accelerate implementation of the of the WHO FCTC. These financial institutions, including banks, pension funds, insurers, and asset managers, are committed to raising awareness about the multifaceted benefits of tobacco control, spanning not only health and environmental concerns but also the significant negative economic impact of tobacco-related issues. Besides NN Group, signatories include Achmea, BNP Paribas AM, Australian Super, Länsförsäkringar, and Cardano.
Nathalie van Toren, Manager Responsible Investment at NN Group: “NN Group has excluded tobacco producers from its investments since 2018 due to concerns regarding public health and the economic burden that smoking places on society. The decision was based on the observation that engagement with the tobacco industry would not lead to fundamental changes. Additionally, the tobacco sector is associated with issues such as human rights violations and negative environmental impacts. The supply chain for tobacco farming, which engages over 17 million people, is particularly sensitive to such violations.
Signing and ratifying the WHO FCTC, or accelerating implementation of the measures outlined in the Convention if already signed, can help countries gain the health and economic benefits of tobacco control."