Insurer calls on industry peers to follow suit as it announces plans to abandon tobacco stocks despite their lucrativeness
Insurer AXA plans to divest €1.8bn (£1.4bn) of tobacco investments and called upon rivals to do the same, citing the industry’s “tragic” impact on public health.
The announcement by one of the world’s top investment institutions is the second major blow for UK tobacco firms inside a week, after the high court rejected their legal challenge against plain packaging.
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