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Investments in Tobacco Companies - Motion to Stockton Council

February 2, 2013 8:56 PM
By Cllr Julia Cherrett

Motion put to Stockton Borough Council, Wednesday January 23rd 2013

"Smoking kills an average 339 people a year in this borough, by far the largest single cause of premature death. It kills around half of all life long smokers through cancer, cardio-vascular diseases and chronic lung disease. Half of those who are killed die in middle age. Smoking is also responsible for around half the difference in health inequalities between rich and poor.
In April 2013 Stockton Borough Council becomes responsible for improving public health and reducing health inequalities.

The Teesside Pension Fund currently has around £47.3 million invested in tobacco companies.

This council calls on Teesside Pension Fund to
a) seek the views of fund members (current, past and retired and including the other local authorities who are part of the fund) on divesting from tobacco
b) seek the views of the Director of Public Health on this issue and to request him to seek the views of other Director's of Public Health in the Teesside Pension Fund.

c) seek independent legal advice as to whether it will be permissible under the terms of the Framework Convention on Tobacco Control article 5.3 for Teesside Pension Fund to maintain investments in tobacco from April 2013
c) seek independent legal advice on how Teesside Pension Fund can legitimately divest from tobacco with a view to divesting from tobacco as soon as practicable.

Proposed by Cllr Julia Cherrett

Seconded by Cllr Alan Lewis