Aaron Shaw, 3 June 2017
CIVIC chiefs have been slammed after pumping £81 million into a tobacco company.
Hampshire County Council’s pension fund has invested the money into one of the biggest tobacco companies in the world, British American Tobacco (BAT).
The council top the list of UK authorities who have investments in tobacco.
However, some of the world’s largest investment organisations have called for UK authorities to pull out of tobacco investments.
One big name to sell its tobacco shares is the French insurance giant Axa.
The UK Sustainable Investment and Finance Association (UKSIF), said it was ‘silly’ for one part of the council to be trying to promote health while the pension fund was, indirectly, promoting smoking.