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Submitted by Y. Li on

Great initiative and great blog. It is interesting to note that in addition to promoting global tobacco control in our operations, the World Bank Group also invests millions of dollars in global tobacco companies through the Staff Pension Fund. The exact amount of investments is not readily available, but is estimated to be upward of $30 million based on the size of the Fund and asset mix, which does not screen out any investments. In contrast, the United Nations Pension Fund, which is nevertheless subject to equivalent fiduciary duty, has long excluded tobacco investments. The trustees of the WBG Pension Fund would do well to disclose the amount invested in tobacco and justify why this is necessary to achieve the Fund's financial return objectives. This would help address any potential confusion around the WBG's commitment to its various institutional mandates, both operational and corporate.