Advertisement

  1. National

Comic Relief to conduct 'full review' of investments

Comic Relief is to conduct a "full review" of its investment policy after criticisms were levelled at its dealings with the tobacco and arms industries.

View all 3 updates ›

Comic Relief has avoided ethical investment screening

Comic Relief - which has been criticised for its dealings with the tobacco and arms industries - has avoided a policy of ethical screening for its investments because the charity says it does not want to limit the amount of money it raises.

BBC Panorama highlighted that Comic Relief had £630,000 in shares in BAE Systems, a leading weapons manufacturer, in 2009 despite having a mission statement which talks of a commitment to help "people affected by conflict".

The charity has also given money to help the fight against tuberculosis but had £3 million of its money wrapped up in tobacco companies in the same year, even though smoking is said to be a contributory factor in many TB cases.

And although it aims to reduce alcohol misuse and its spin-off effects, the charity had £300,000 invested in the drinks industry in 2009. Panorama said Comic Relief refused to reveal its current investments.

More top news