The €11.6 billion National Pension Reserve Fund (NPRF) is set to adopt a new ethics-driven investing policy, but will continue investing in world tobacco companies, despite this year's legislation banning smoking in Irish pubs and restaurants.
The fund, set up by former minister for finance Charlie McCreevy to help meet part of the public sector pension liabilities from 2025, has decided that an outright investment ban on investing in cigarettes or other so-called non-ethical companies...
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