World Lung Foundation Applauds Norwegian Government for Divesting Tobacco Stocks from Government Pension
Tuesday, April 7, 2009
Contact: Jorge Alday, Public Relations Manager
(New York) – World Lung Foundation released today the following statement from Peter Baldini, Chief Executive Officer, following regarding the Norwegian government's decision to divest $2.1 billion in tobacco stocks from its pension fund portfolio.
"We applaud the Norwegian government for divesting its government pension fund of stocks that profit from tobacco. By doing so, the Norwegian Ministry of Finance has drawn a clear ethical boundary between itself and an industry that has proven it is willing to compromise its customers' health for profit.
The Norwegian government has also taken a leadership role by being among the first to comply with newly released World Health Organization Framework Convention on Tobacco Control (FCTC) guidelines. These new provisions specify that governments should divest all holdings in tobacco companies in order to keep public health interests apart from economic influence.
World Lung Foundation urges the other 163 FCTC signatories to follow suit. Under no circumstances should government or its employees benefit from investments in companies that sell and market products that harm the public."
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About World Lung Foundation
World Lung Foundation was established in response to the global epidemic of lung disease, which kills 10 million people each year. The organization improves global lung health by improving local capacity to conduct research, develop public policy and deliver public health education. The organization's areas of emphasis are tobacco control, tuberculosis, HIV/AIDS, asthma, and child lung health. For more information, please visit worldlungfoundation.org