We have never and will never lend to the tobacco industry, a position that 85% of our customers support.
The impact of tobacco
Tobacco kills more than 7 million people each year globally. More than 6 million of those deaths are the result of direct tobacco use while around 890 000 are the result of non-smokers being exposed to second-hand smoke.
There are also a number of human rights abuses in the tobacco industry – in many parts of the world child labour and slave labour are used in tobacco farming.
Why does your choice of bank matter?
Many people don’t want to see their money used to make loans to support companies that produce tobacco or derive the majority of their profits from tobacco.
Screening out investment in tobacco is very common among ethical superannuation options and other investment funds.
At Bank Australia, we apply a similar screening process to our loans which means you can be confident your money isn’t being used to support the growth of the tobacco industry.
What change are we trying to create?
Banks that finance tobacco companies are supporting the growth of this industry, and ultimately, the harm it causes.
We know many people choose to smoke and we respect their freedom to do this. But, we also know that there are many customers who don’t want their money used to support the tobacco industry. Our position is about enabling you to support systemic change through your choice of bank.
The more people that send this message to banks and other investments funds, the more we can reduce the harm this industry causes to people and communities.