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May 24, 2016 @ 2:23

AXA to stop investing in tobacco industry

AXA said it would divest its 200 million euros of equity holdings in tobacco companies immediately. It also plans to stop all new investments in tobacco industry corporate bonds and run off its existing holdings worth about 1.6 billion euros.

“With this divestment from tobacco, we are doing our share to support the efforts of governments around the world,” incoming AXA Chief Executive Thomas Buberl said in a statement.

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