Notts County Council to divest pension funds from tobacco companies and the Daily Mail
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Public organisations like Nottinghamshire County County have a legal duty to promote anti-smoking services, and to invest in community cohesion.
But the Nottinghamshire Pension Fund invests enormous amounts of money in tobacco companies and the Daily Mail.
As reported in Nottingham Post on 6 July 2017, the fund has £85m invested in big tobacco.
It has £18,270,051 worth of shares in Imperial Tobacco, £57,062,838 in British American Tobacco, £4,731,484 in Philip Morris, £1,671,729 in Japan Tobacco and £3,992,369 in Altria, the parent company of Philip Morris according to the latest available figures.
The fund also has £9.4m invested in the Daily Mail - which is the chief target of the 'Stop Funding Hate' campaign (http://stopfundinghate.org.uk/) to encourage companies to divest their advertising spend.
Public sector workers - dedicated, hard working, trying to improve society - should not have to see their pension money being used to improve the bottom line of organisations that promote division in our communities and, in simple terms, kill people.
The excuses offered by the pension fund and councillors for investing in tobacco are an insult to these hard working public servants - and to all taxpayers, who ultimately finance the wages and pension contributions of employees.
We call on Nottinghamshire Pension Fund to urgently divest its money from these organisations, and instead invest it in companies that both offer similar rates of return, and work to ethical and moral guidelines.
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