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Title:Axa disinvests from tobacco
Date of publishing:May 24, 2016
Hits:5695
Category:News
Language:English
Also available in the following languages:Dutch, French

Axa disinvests from tobacco
May 24, 2016

Axa's will sell out his 1.7 billion of tobacco securities: stocks will be sold immediately, the remaining 1.6 billion other investments, mostly corporate bonds, will phase out. Tobacco investments are no longer consistent in the insurer's social profiling, as Axa declares.

It is not the first time that Axa, member of the PIONEER Register since 2010, makes a more sustainable investment move. During Paris' climate conference last year, the company had already announced to gradually end its coal securities. Other Belgian insurers are not very keen on tobacco anymore either, as explains Flemish newspaper De Standaard. AG Insurance, KBC and ING, although still involved, contain a very limited amount of tobacco investments.

Nevertheless, financial institutions are not keen on sharing information about their investments. Forum ETHIBEL therefore keeps insisting on more transparency from banks and insurers about the destination of their capital; and sincerely hopes that Axa's sustainable investment move will inspire other players in the sector.