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News & Star | News | Cumbria councils’ millions invested in tobacco

News & Star | News | Cumbria councils’ millions invested in tobacco.

Cumbria County Council is reported as having £8.3m invested in tobacco companies by a local paper.  It sounds like there may be quite a backlash from many councillors which is good news.  ASH has produced very good guidance for local authorities challenging the suggestion that they have to maximise returns without regards to the ethics of the companies they invest in.  Norway and New Zealand have done it successfully with negligible impact on fund performance.  We just need a few councils in the UK to break ranks with the consensus position that returns are all that matter.  Maybe if councillors thought about the return on investment in terms of local lives lost versus the income gained, then they would reconsider.

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