BNPP AM’s Head of Global Sustainability, Jane Ambachtsheer joined BNP Paribas Group’s CEO Jean-Laurent Bonnafé on September 26th for the official launch of the Tobacco-Free Finance Pledge in New York, during a side event of the United Nations General Assembly.
The Pledge was initiated by Tobacco-Free Portfolios, a non-profit organisation. Dr. Bronwyn Kind, CEO and Radiation Oncologist, and her team developed this pledge in collaboration with the United Nations and finance sector leaders AXA, BNP Paribas, AMP Capital and Natixis.
It builds on key global finance initiatives such as the Investor Statement in Support of World No Tobacco Day, produced in 2017 by the UN-supported Principles for Responsible Investment (PRI), UN Environment’s Principles for Sustainable Insurance (PSI), and Tobacco Free Portfolios.
The Tobacco-Free Finance Pledge ensures that tobacco-free finance is on the agendas of financial institutions boards around the world, and aims to denormalise tobacco as a part of standard investment practices.
Earlier this year, BNPP AM excluded the tobacco sector from its range of open funds, extending this policy beyond its SRI funds. Signing the Tobacco-Free Finance Pledge along with BNP Paribas therefore appeared as a natural move for BNPP AM. This initiative proves that the finance sector can play a positive role in addressing global health priorities, such as the tobacco epidemic, which kills more than seven million people each year
As of today, the Tobacco-Free Finance Pledge has over 120 founding signatories and supporters.