Reprinted from Institutional Investor. Michael Molitor is a Senior Fellow with the Ray C. Anderson Foundation
Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund, with $860 billion under management, has missed out on $1.9 billion in additional profits as a result of its decision to divest all of its tobacco holdings in 2010. The story that reported this fact, which ran in the Financial Times , goes on to suggest that fund managers should reconsider their investments in tobacco companies, as the sector is generating impressive returns, well above many key performance benchmarks.
Researcher and Writer is an Expert on Resource Productivity and the Circular Economy
ATLANTA and PARIS, March 31, 2016 /3BL Media/ -- “The market undervalues sustainable business practices as they are evaluated by a flawed model of both growth and prosperity.” It’s a quote that sounds like it could have come directly from Ray Anderson, but instead, it comes from Michael Molitor, an academic and consultant who has recently been named a Senior Fellow of the Ray C. Anderson Foundation.