Australia’s Competition and Consumer Commission has proposed to accept a charitable organisation’s application to create certified trademarks that can be used by fund managers and financial institutions to signify their investment status in tobacco products.
Tobacco Free Portfolios Limited, a public company and charity, has submitted a request to the ACCC for the recognition of three trademarks that highlight to investors whether a fund manger or financial institution is directly or indirectly invested in tobacco holdings, or if they are committed to divesting from such investments within a two-year timeframe.
“Many investors want to invest in funds that are tobacco free, and this mark will help them to make informed investment decisions,” he said.
“Our initial assessment is that this trademark and the underlying rules meet the legal test for registration in that they are clear and not misleading or anti-competitive. Additionally, as the approved certifier, Tobacco Free Portfolios is able to competently assess whether funds and fund managers meet the certification requirements.”