New global initiative to encourage divestment in tobacco stock

Launched in March 2015 at the 16th World Conference on Tobacco or Health in Abu Dhabi, the Global Taskforce for Tobacco Free Portfolios (GTF.TFP), aims to encourage organisations and individuals to divest from tobacco stock worldwide.  It is estimated that at least $60bn is currently invested in tobacco companies by financial institutions and pension funds on behalf of individuals who may not be aware.

Drawing support from UICC’s membership in 153 countries, our NCD Alliance colleagues, and senior industry experts, the GTF.TFP will establish a high level divestment target in early 2015, and implement a global programme which aims to deliver this target by November 2016.  Key GTF.TFP activities will include:  

  • Training advocates in countries where tobacco divestment is a strong possibility; 
  • Developing a TFP toolkit for all UICC members and;
  • Monitoring progress in securing divestment agreements. 

"The work of Dr. Bronwyn King, Peter MacCallum Cancer Centre (Melbourne) has demonstrated the enormous opportunity to take a stand against the tobacco industry by encouraging divestment in tobacco stock" said Professor Tezer Kutluk, UICC President - who has helped to spearhead this Taskforce as part of his President's Portfolio of activities.  To date, more than 30 superannuation funds in Australia have adopted tobacco free mandates resulting in divestment of Aus$1.3bn.  

Following the launch last month, HRH Princess Dina Mired, Director General of the King Hussein Cancer Foundation, has agreed to take up the role of honorary Chair of the GTF.TFP. In addition, the World Health Organisation, as well as UICC members including the Norwegian Cancer Society and Irish Cancer Society have signed up as GTF.TFP partners. We are looking for other UICC members to join us in this exciting initiative! 

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Last update: 
Monday 27 April 2015