The Issue


Many people are unknowingly contributing to the global tobacco epidemic through their pension funds.

Most pension fund members are invested in default investment options which, unbeknown to many, have a small percentage of total assets invested in tobacco companies.

Such financial support of the tobacco industry stands in sharp contrast to the efforts of the global health sector to advance tobacco control and the commitment demonstrated by 180 governments that have signed the UN Tobacco Treaty.


Our Vision


Tobacco Free Portfolios aims to reduce and ultimately eliminate pension fund investment in tobacco.


Our Approach


The approach of Tobacco Free Portfolios is an advocacy and educative role. We pride ourselves on discretion and never disclose details of meetings or other communications.

We do not seek to accuse or shame trustees, investors or the finance industry. We wish to work collaboratively and professionally, so that the industry and its investors can make well-informed decisions.


Our Progress


Presentations at industry events and meetings with portfolio managers, pension trustees and industry executives have resulted in significant progress.

Tobacco Free Portfolios has played an integral role in the decision of over 35 Australian Superannuation Funds to divest tobacco stocks worth approximately $2 billion dollars. With several billion dollars of Australians’ savings still invested in tobacco, we remain committed to this important work.

In the past year Tobacco Free Portfolios has welcomed tobacco-free decisions from global financial institutions in seven countries including:

  • CalPERS, the largest pension fund in the USA (divested $550M USD tobacco stocks December 2016)
  • AXA, the global insurance giant (divested 1.8B Euro May 2016)
  • Medibank, the second largest Australian private health insurer
  • AP4, one of the largest Swedish pension funds
  • Fonds de Reserve Pour les Retraites, the largest French public pension fund
  • Copenhagen City Council
  • Lego Foundation
  • Irish Sovereign Investment Fund
  • Bank of New Zealand
  • AMP Capital (divested $440M AUD March 2017)
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