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21
Jan 2022
A North Yorkshire County Council-controlled pension fund invests over £20m in two of the world's largest tobacco companies, despite the council being in charge of public health and running its own quit smoking service.
The revelations come as part of a series of investigations by the Stray Ferret into controversial investments made by the North Yorkshire Pension Fund, which is controlled by the council.
You can click on the links to read our previous reports on how NYCC's pension fund invests in fossil fuel companies and arms companies.
The Stray Ferret obtained a full list of the companies the pension fund invests in through a freedom of information request.
The NHS estimates smoking kills more than 1,000 people every year in North Yorkshire but the council's pension fund holds £12.4m worth of shares in British American Tobacco and £8.9m in Phillip Morris.
Matt Walker, an NHS manager from Knaresborough who is also a Liberal Democrat campaigner, told the Stray Ferret he has seen first-hand the damage smoking has had on people's health, including his own grandparents.
He said:
Cllr Caroline Dickinson and LivingWell Smokefree team members.
The report says the county still has work to do, particularly with young people and those with mental health issues. It says:
NHS manager Matt Walker called on the council to "live its values" and divest from its holdings in tobacco companies.
He added:
Deborah Arnott, chief executive of the health charity ASH (Action on Smoking and Health) told the Stray Ferret that North Yorkshire should follow suit.
Gary Fielding, treasurer of North Yorkshire Pension Fund for North Yorkshire County Council, said:
Do you pay into the North Yorkshire Pension Fund and have an opinion on our investigation? Contact thomas@thestrayferret.co.uk
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