Pensions
UC Investments Reaps Big Returns From Index Fund Shunning Fossil Fuels, Tobacco
Some $1.3 billion of the University of California’s $16 billion fiscal 2024 investment gain came from one S&P 500 index fund.
Tag: Tobacco
Regulation
Republican Senators Escalate Warnings to ESG Actors
New warnings of investigations and hearings for ESG actors arrive from Republican Senators.
Newsmakers
Norwegian Sovereign Wealth Fund Adds 9 Firms to Exclusion List
The $1.2 trillion fund excludes companies due to tobacco and recreational cannabis production, as well as environmental damage.
Asset Allocation
Oil Is the New Sin Stock, and That’s a Boost for the Sector, BCA Says
Some investors may be bailing out of their energy shares, but tobacco and its ilk show that can be a perverse plus.
Newsmakers
Boston to Divest From Fossil Fuels, Tobacco, Private Prisons
The city’s mayor signed a bill to eliminate the controversial investments by 2025.
Pensions
CalPERS Rejects Reinvesting in Tobacco Again
Pension plan’s investment committee votes down a second attempt from member Jason Perez to reverse its 20-year-old ban.
Sin Stocks, Once Heavenly Performers, Now Are Damned
Shares in tobacco, booze, gambling, and the like are suffering in the pandemic era.
Asset Allocation
USS Targets Tobacco, Thermal Coal for Divestment, Exclusion
UK’s largest pension plan will shun investments, like tobacco and coal, it deems ‘financially unsuitable.’
Risk
UK’s NEST Pension to Quit Smoking
Move follows series of funds no longer interested in carrying tobacco-related investments.
Risk
Third Swedish Pension Plan Divests from Nukes and Tobacco Companies
AP2’s decision sees it keeping up with new laws, sister funds AP1 and AP4.
Asset Allocation
CalPERS Investment Committee Rejects Tobacco Reinvestment Again
In a surprise move, investment committee member Jason Perez called for a vote on reinvesting in tobacco stocks, but his plan was shot down.
Newsmakers
CalPERS Decision to Divest from Tobacco Is Costly
A report found CalPERS missed nearly $3.6 billion in investment opportunities from 2000 decision, but other divestments have worked in its favor.
UN Launches Tobacco-Free Finance Pledge
Initiative calls on finance industry to tackle ‘tobacco epidemic.’