Comic Relief vows to stop investing in weapons and other bad things

29 May 2014

comic relief red nose day Comic Relief means well, even if it ends up being quite annoying, with people sat in baths of beans on awful telethons and kids making inedible flapjacks and flogging them for charity.

Even beyond that, the company themselves have been making a bit of a hash of it, giving donations to things that aren't exactly helping anyone.

As such, they have pledged to stop investing in weapons, alcohol and tobacco companies after their accounts revealed that they have been putting money into nasty organisations.

An independent review which was launched to look at how the charity uses its money found that Comic Relief had £630,000 worth of shares in weapons manufacturer BAE systems, more than £2m in various tobacco companies a investments in Diageo who make booze.

Of course, the kicker here is that Comic Relief wants to help people who have been affected by alcohol abuse, war and conflict and tuberculosis (which smoking can increase the risk of getting). It is all very embarrassing for the charity.

Tim Davie, chairman of Comic Relief, said: "Public trust is the cornerstone of Comic Relief and we would be nothing without our many supporters to whom we have listened and will keep listening. We now have an investment policy that is firmly in line with the ethos of the charity, at the same time as making sure that the money we raise can go further to change lives both here in the UK and abroad."

In summary, the review panel said: "The focus of Comic Relief’s revised investment policy should be on using the charity’s capital to do good rather than merely preventing it from doing harm."

At least you can still wear your trainers to work on Red Nose Day.

1 comment

  • Melly
    And, yikes. That's a little insane.

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