Multilateral development banks and bilateral donors and their responsibility towards excluding tobacco investments and participation
Background and challenges to implementation In 1991, The World Bank, world's largest lender, pledged that it would no longer support tobacco related projects. It was expected that other financial investors would follow, but most did not responded to this call. As a result, several financial in...
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| Format: | Article |
| Language: | English |
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European Publishing
2018-03-01
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| Series: | Tobacco Induced Diseases |
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| Online Access: | http://www.journalssystem.com/tid/Multilateral-development-banks-and-bilateral-donors-and-their-responsibility-towards,84351,0,2.html |
| _version_ | 1818757918420369408 |
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| author | Pranay Lal |
| author_facet | Pranay Lal |
| author_sort | Pranay Lal |
| collection | DOAJ |
| description | Background and challenges to implementation
In 1991, The World Bank, world's largest lender, pledged that it would no longer support tobacco related projects. It was expected that other financial investors would follow, but most did not responded to this call. As a result, several financial institutions continue to invest in tobacco and fuel an epidemic to an unprecedented scale. Using tobacco as a case in point, this review highlights the continuing investment among financial institutions which conform to 'socially responsible investments' and calls for monitoring and reporting such unethical practices. There is a need to harmonise the numerous criteria, principles and voluntary codes that govern socially responsible investing. Monitoring of these can be mutually beneficial for all social sectors.
Intervention or response
We analyse annual reports of the seven major MDBs (like the World Bank Group, Regional Development Banks, Trade bloc banks etc..) and bilateral donors from 2010 to 2017 and estimate size and nature of investments or board-level participation by or in tobacco industry.
Results and lessons learnt
Most MDBs and bilateral have state tobacco as an exclusion criteria, yet we find discrepancies in investments, collaborations and partnerships (with financial and non-financial implications) across all donors.
Conclusions and key recommendations
Tobacco control advocates need to monitor the behaviour of MDBs and bilateral that have committed to exclude tobacco from their portfolio. Those MDBs and bilateral donors that still do not support exclusion of tobacco, must be advocated to do so. |
| first_indexed | 2024-12-18T06:18:34Z |
| format | Article |
| id | doaj.art-b3ce62c2ec7a48548a7cd7c21a2fa4b8 |
| institution | Directory Open Access Journal |
| issn | 1617-9625 |
| language | English |
| last_indexed | 2024-12-18T06:18:34Z |
| publishDate | 2018-03-01 |
| publisher | European Publishing |
| record_format | Article |
| series | Tobacco Induced Diseases |
| spelling | doaj.art-b3ce62c2ec7a48548a7cd7c21a2fa4b82022-12-21T21:18:12ZengEuropean PublishingTobacco Induced Diseases1617-96252018-03-0116110.18332/tid/8435184351Multilateral development banks and bilateral donors and their responsibility towards excluding tobacco investments and participationPranay Lal0International Union Against Tuberculosis and Lung Disease, IndiaBackground and challenges to implementation In 1991, The World Bank, world's largest lender, pledged that it would no longer support tobacco related projects. It was expected that other financial investors would follow, but most did not responded to this call. As a result, several financial institutions continue to invest in tobacco and fuel an epidemic to an unprecedented scale. Using tobacco as a case in point, this review highlights the continuing investment among financial institutions which conform to 'socially responsible investments' and calls for monitoring and reporting such unethical practices. There is a need to harmonise the numerous criteria, principles and voluntary codes that govern socially responsible investing. Monitoring of these can be mutually beneficial for all social sectors. Intervention or response We analyse annual reports of the seven major MDBs (like the World Bank Group, Regional Development Banks, Trade bloc banks etc..) and bilateral donors from 2010 to 2017 and estimate size and nature of investments or board-level participation by or in tobacco industry. Results and lessons learnt Most MDBs and bilateral have state tobacco as an exclusion criteria, yet we find discrepancies in investments, collaborations and partnerships (with financial and non-financial implications) across all donors. Conclusions and key recommendations Tobacco control advocates need to monitor the behaviour of MDBs and bilateral that have committed to exclude tobacco from their portfolio. Those MDBs and bilateral donors that still do not support exclusion of tobacco, must be advocated to do so.http://www.journalssystem.com/tid/Multilateral-development-banks-and-bilateral-donors-and-their-responsibility-towards,84351,0,2.htmlWCTOH |
| spellingShingle | Pranay Lal Multilateral development banks and bilateral donors and their responsibility towards excluding tobacco investments and participation Tobacco Induced Diseases WCTOH |
| title | Multilateral development banks and bilateral donors and their responsibility towards excluding tobacco investments and participation |
| title_full | Multilateral development banks and bilateral donors and their responsibility towards excluding tobacco investments and participation |
| title_fullStr | Multilateral development banks and bilateral donors and their responsibility towards excluding tobacco investments and participation |
| title_full_unstemmed | Multilateral development banks and bilateral donors and their responsibility towards excluding tobacco investments and participation |
| title_short | Multilateral development banks and bilateral donors and their responsibility towards excluding tobacco investments and participation |
| title_sort | multilateral development banks and bilateral donors and their responsibility towards excluding tobacco investments and participation |
| topic | WCTOH |
| url | http://www.journalssystem.com/tid/Multilateral-development-banks-and-bilateral-donors-and-their-responsibility-towards,84351,0,2.html |
| work_keys_str_mv | AT pranaylal multilateraldevelopmentbanksandbilateraldonorsandtheirresponsibilitytowardsexcludingtobaccoinvestmentsandparticipation |