AMP Capital has completed the divestment of A$440 million worth of tobacco manufacturing-related holdings from its portfolios, representing the largest divestment of tobacco securities by a fund manager in Australia.
The divestment follows the introduction of a new ethical framework, announced by AMP Capital in March 2017, which included the decision to divest from tobacco securities across all equity and fixed income holdings.
In addition to the landmark divestment, AMP Capital has today become a founding signatory of the Tobacco-Free Finance Pledge launched at an event at the United Nations General Assembly in New York.
The pledge marks a global movement that promotes the adoption of tobacco-free finance policies within financial services and has been developed in line with the United Nations’ Sustainable Development Goals and the World Health Organisation Framework Convention on Tobacco Control.
As part of its 2017 commitment, AMP Capital has also completed the divestment from manufacturers of cluster munitions, landmines, chemical and biological weapons representing more than A$130 million in securities. The exclusion of these sectors is consistent with AMP’s commitment to building a sustainable future and creating long-term, shared value for our customers, shareholders, employees, the wider community, and the environment.
In addition, AMP Capital has recently been recognised for its strong environmental, social and governance (ESG) performance receiving A and A+ ratings in the annual reporting and assessment of signatories to the Principles for Responsible Investment (PRI).
You can find out more about AMP Capital’s commitment to responsible investing at ampcapital.com.au or by talking to your financial adviser or business development manager. Choosing the right investment today could shape the future of tomorrow.