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The massive US pension fund Calpers decided more than a decade in the past not to purchase shares in tobacco corporations, however Axa appears to be the primary major European institutional investment fund to drag out of the sector. European Commission vs. Netherlands and IKEA, Dec. 2017 The European Commission has opened an in-depth investigation into the Netherlands’ tax treatment of Inter IKEA, considered one of the two groups operating the IKEA enterprise.

With two tobacco firms – British American Tobacco and Imperial Brands – within the FTSE 100, many non-public investors shall be indirect holders through tracker funds. The Axa Group, which manages property value €1.36 trillion, will promote its €184m of shares in tobacco corporations, and tobacco business bond holdings that are valued at nearly €1.6bn. Creating a greater tomorrow includes the implementation of a variety of bold goals from our sustainable development agenda and displays changes happening in our external setting (together with achieving carbon neutrality or decreasing the usage of plastic packaging).

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