Scottish Widows has announced a further £1.5bn 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 latest 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 has a...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes