Tobacco isn’t a good investment – study shows a decline in stock prices since 2016

By Corne van Walbeek, Professor of Economics and Director of the Research Unit on the Economics of Excisable Products, University of Cape Town
Tim Evans, Graduate associate, University of Cape Town

Environmental, social and governance investing, also known as impact or socially responsible investing, has become a popular concept. It’s based on awareness of the impact that firms have on the environment and on human wellbeing. Socially responsible investing recognises that these factors increasingly influence financial performance and thus investor returns.

Companies in the tobacco industry have some of the most serious impacts on wellbeing.…

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