THE Tobacco Industry Marketing Board (TIMB) says it is working towards decarbonising tobacco production in line with Environment, Social and Governance investing (ESG).
This comes as international pressure for carbon-neutral treatment of the ‘golden leaf’ has been rising. ESG is a set of standards that govern how companies and funds ensure that they are responsible in the way that they make profits. It is a variation of the stakeholder model that businesses are increasingly adopting, which is founded on the stakeholder theory.
In the case of green investing, these other considerations revolve around stakeholders that are affected by a company’s carbon footprint, adherence to labour laws and support towards SDGs, as well as remuneration and corporate governance.
“An industry working group is developing minimum standards for sustainable tobacco production,” TIMB chief executive Meanwell Gudu told The Financial Gazette thi
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