Major Pension Scheme to Ditch Tobacco

Universities Superannuation Scheme, Britain’s largest private pension scheme by assets, will stop investing in tobacco manufacturing and other sectors it deems “financially unsuitable” over the long term.

Companies that make more than 25 percent of their revenues from thermal coal and those with ties to controversial weapons such as cluster munitions, landmines and white phosphorus will also be excluded, the fund said in a statement on Monday.