Comic Relief pledges not to invest in alcohol, tobacco or arms companies
The charity says it will be more transparent about how it invests money raised from its appeals
Comic Relief has said that it will not invest in alcohol, tobacco or arms companies and will be more transparent about its investments following a review into the charity’s investment policy
The review took place after a BBC Panorama programme, broadcast last December, showed that Comic Relief had potentially invested millions of pounds in companies whose activities appeared to go against the charity’s mission.
The investment review panel recommendations, published today, said that the charity should not invest in companies that manufacture arms or tobacco or whose primary business is the manufacture of alcohol products, but added that they should “aim for only a small number of absolute prohibitions” in order to “avoid an excessive reduction in the universe available for investment”.
The panel made five recommendations in total, all of which have been accepted by the charity’s main board.