@drphilhammond

@drphilhammond tweeted yesterday asking if local authorities invest in tobacco companies through their pension funds. Sadly as regular readers will know the answer is all bar one (Newham). 

BBC News – Tobacco investments to be reconsidered by Norfolk and Essex councils

BBC News – Tobacco investments to be reconsidered by Norfolk and Essex councils.

Following on from last week’s BBC story, it is encouraging to see that both Norfolk and Essex councils are going to review investing in tobacco.

Suffolk: County to retain tobacco investment despite anger from ASH – News – East Anglian Daily Times

Suffolk: County to retain tobacco investment despite anger from ASH – News – East Anglian Daily Times.

Suffolk is revealed as a council having one of the largest investments in tobacco at over £43 million.

Meanwhile the Suffolk health profile reveals that the county population lost 1138 residents to smoking in the most recent year for which data is available (source: Suffolk Health profile 2011).

I wonder if that is a satisfactory return on investment?

BBC News – Health campaign councils invest £167m in tobacco firms

BBC News – Health campaign councils invest £167m in tobacco firms.

The BBC in the East of England has used the freedom of information act to find out the tobacco company holdings of councils in the region.   These figures tend to support estimates that in England as a whole councils have over £1 billion invested in tobacco companies, the very same companies that kill more of the citizens of those councils than any other preventable cause.  Can they continue to justify these investments when they take over responsibility for public health next year?

Council pension fund invests double into tobacco company | This is South Wales

Council pension fund invests double into tobacco company | This is South Wales.

Carmarthenshire Council appears to have no issues with investing in tobacco according to this story revealing the Dyfed fund has £26.6m invested.

“The fund’s investment managers have no restrictions on the shares they can purchase on ethical grounds.

“The reasoning being that what is an unethical investment for one person may be ethical for another and vice versa.”

I’m not aware of any other consumer product that kills half its long term users, including hundreds of Dyfed residents every year. Is the Dyfed fund really unable to recognise that investing in tobacco is unethical?

Local authorities in Wales hold £116m in tobacco companies | ASH Wales News

Local authorities in Wales hold £116m in tobacco companies | ASH Wales News.

ASH Wales has used the Freedom of Information Act to establish the extent of tobacco holdings by local authority pension funds in Wales.

Will the Welsh Assembly government act to end the scandal of councils investing in companies that kill hundreds of their citizens each year?