Library | ESG issues

Alcohol

Alcohol is a substance with dependence-producing properties found in beer, wine, and liquor. Its misuse can lead to significant social and economic consequences, including health risks, financial strain, and societal harm. These impacts extend to businesses and economies through regulatory scrutiny, reputational risks, and shifting consumer and investor preferences. Investors may choose to exclude alcohol-related companies from their portfolios based on ethical, religious, or social considerations.

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Institutional investment in addictive industries: An important commercial determinant of health

The study examines how Tobacco-Free Finance Pledge signatories apply exclusion policies to addictive industries. Investors show diverse thresholds, with European institutions more likely to exclude alcohol, gambling, and cannabis. Reputational and compliance considerations dominate justifications, highlighting investment decisions as significant commercial determinants of health.
Research
14 October 2024

Ethical investing disclosure guidance

Financial Markets Authority (FMA)
This report summarises draft guidance from New Zealand’s Financial Markets Authority on ethical investment disclosure. It sets expectations under the FMC Act, warns against greenwashing, and outlines principles of clarity, substantiation, consistency, and management of third-party involvement to improve transparency and accuracy for investors.
Research
19 September 2025
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