June 2019 Newsletter

2019 saw a dramatic increase in awareness of tobacco-free finance and implementation of new investment frameworks that consistently saw tobacco excluded from portfolios. These decisions are better for human health and better for the planet. Pressure on tobacco companies continued to rise. New anti-tobacco regulations were implemented across the globe (including plain packaging, new tax increases, increased age of purchase to 21 years, enhanced restrictions on advertising). Litigation increased (notably in Canada and Brazil). The combined impact of these external forces contributed to the recent shaky financial performance of the tobacco sector.