Don't Ditch 'unethical' Investments Councils Told

摘要

Councils were this week urged to encourage engagement with firms in which town hall pensions are invested, after Highland Council was warned not to withdraw its ￡27m share in tobacco companies. Ethical investment specialists want councils to review stocks held by funds within the Local Government Pension Scheme, but not necessarily 'disinvest-ing' immediately from companies whose business is deemed unethical. It follows Highland Council's decision not to sell its ￡27m of tobacco-related stocks, despite a campaign by leader Michael Foxley. Cllr Foxley, a family GP, wanted the council's pension scheme to ditch tobacco investments, which have been profitable for decades, on ethical grounds because the council has been promoting healthy living.