Scottish Widows has announced a further £1.5 billion contribution towards its divestment policy as it strengthens its commitment to its environmental goals.
The additional £1.5bn announced today (28 March) is on top of previous divestment commitments, which total around £1.4bn. The new divestment policy includes a major commitment to divest from tobacco firms, as the company has announced they will not invest in any company that makes more than 10% of its revenue from tobacco. This will exclude all tobacco manufacturers and distributors. The provider has outlined that tobacco holdings are incompatible with its strategy as an investor and pension provider. Alongside its commitment to divest in the tobacco industry, Scottish Widows...
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