UK: Comic Relief pulls investments in alcohol firms
UK charity Comic Relief has said it will stop investing in alcohol companies, following a review of its investments.
The organisation said yesterday (28 May) that, following an independently-led probe, it will not invest in firms "whose primary business is the manufacture of alcohol products". The review came after BBC's Panorama programme revealed that, between 2007 and 2009, the charity had around GBP300,000 (US$500,000) worth of shares in drinks producers.
It was suggested the investments contradict the charity’s core values. One of Comic Relief’s aims is to “reduce alcohol misuse and minimise alcohol-related harm”.
The charity said it will also stop investing in tobacco and and arms firms, following the two-month review of its policy.
Tim Davie, Comic Relief's chair, said: "We now have an investment policy that is firmly in line with the ethos of the charity, at the same time as making sure that the money we raise can go further to change lives both here in the UK and abroad.”
In its 29-year history, Comic Relief has raised around GBP1bn for causes in the UK and abroad.
Nobody from Diageo was immediately available for comment.
The world’s leading spirits producer, Diageo also ranks 23rd in the global wine market. This profile analyses the challenges faced by Diageo’s wine operations, which sit uncomfortably with the company...
Analyses of the leading companies in the alcohol industry...
Spirits in Global industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The profile also contains...
Spirits in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The profile also conta...
- What Brexit means for drinks industry? - Analysis
- What does Brexit mean for AB InBev's SAB deal?
- Is there a future for the global beer brand?
- Can fruit cider survive UK slowdown? - Focus
- Non-Scotch Whisky Essentials, Part II
- The UK Referendum - just-drinks Live Blog
- Aldi dealt alcohol sales blow in Australia
- Ex-William Grant CEO Stella David re-joins Bacardi
- UK spirits producers braced for Brexit impact
- Maxxium eyes US$1.4bn opportunity in UK spirits
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Spirits and Wine: Corporate Overview
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends