Storebrand a Founding Signatorie of the Tobacco Free Finance Pledge
Today Storebrand re-affirms its leading role in the tobacco free movement by signing the Tobacco Free Finance Pledge at the United Nation in New York City.
– For Storebrand, divesting tobacco from all our funds and portfolios already in 2005 was a natural move. Tobacco is a lethal investment that has a profound negative effect on public health. By signing this pledge we would like urge others to do the same and thus contribute to a tobacco free world, says Åsa Wallenberg, Head of Funds at Storebrand Asset management, representing the Storebrand Group in NYC.
The Tobacco-Free Finance Pledge (TFPP) is an initiative led by Tobacco Free Portfolios (TFP), a global NGO that fights for a tobacco free world by bringing investors to eliminate all of their tobacco assets across the globe. The pledge calls on all leaders from private and public authorities, as well as NGOs and international institutions, to join the fight against tobacco.
– Tobacco products are a major threat to public health that kill approximately 7 million people per year, a figure that is expected to rise to 8 million by 2030. By replacing tobacco with other non-cyclical consumer goods, Storebrand has proven for over 10 years that the exclusion of tobacco can be achieved without compromising returns. To exclude tobacco should therefore be an obvious choice for all investors, concludes Ms Wallenberg.
The Pledge was initiated by CEO and Radiation Oncologist Dr. Bronwyn King and launched today in NYC with over 120 signatories and supporters.
Storebrand Asset Management is a leading player in the Nordic market and has been a pioneer within the field of sustainable investments since mid 90ies. Storebrand Asset Management is a multi-boutique manager and provider of scalable, sustainable solutions and thematic funds. The group includes the brands Storebrand Funds, Skagen Funds, Delphi Funds and SPP Funds.
Storebrand's ambition is to be the best provider of saving for pensions. Storebrand will deliver sustainable solutions adapted to the customer's individual situation, so that each person receives a better pension in a more sustainable world. Storebrand has about 40.000 corporate customers and 1.9 million individual customers, and is headquartered in Lysaker outside of Oslo, Norway. Storebrand manages more than NOK 721bn and is Norway's largest asset manager. We work hard to reach our vision: Recommended by our customers. Storebrand (STB) is listed on Oslo Stock Exchange.
Visit us at www.storebrand.com and follow us on twitter: @Storebrand_no