The Supervisory Board of the Fonds de Réserve pour les Retraites (FRR) adopted the Executive Board’s proposal to exclude from its portfolio investments in equities or bonds of tobacco producing companies.
“The FRR also believes that progress will not be achieved by dialogue with these companies, because the whole purpose of engagement would be to demand that they should stop their activities altogether. For this reason, FRR has decided to exclude the tobacco industry from its portfolio.”