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Comic Relief is a UK based charity famous for it Red Nose Day

UK charity 'Comic Relief' withdraws alcohol investments

Following a comprehensive review, the trustees of the charity 'Comic Relief' have announced that they will no longer make investments in alcohol, tobacco and arm. The charity came under criticism last year after BBC's Panorama revealed it had invested in sectors which appeared to contradict the core values of the charity.

Comic Relief’s decision to exclude companies that manufacture armaments or tobacco products or whose primary business is the manufacture of alcohol products follows the Investment Review panel’s advice. In addition to excluding these sectors, Comic Relief has signed up to UN Principles for Responsible Investments, announced it will be more transparent about its investments and ensure that its strategy and investment policy are aligned.

To the BBC Comic Relief chairman Tim Davie said: "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."

Comic Relief has a vision of a just world, free from poverty. It was started in 1985 and has since raised almost 1 billion British Pounds for projects under headlines such as education, malaria, HIV, mental health, young people and domestic violence. The charity funds projects both in the UK and abroad. Its main fund raising event is the Red Nose Day which has become something of a British institution. It’s the day, every two years, when people across the land can get together and do something funny for money at home, school and work. BBC TV is involved with comedy and entertainment to inspire the nation to give generously.

"The decision to exclude alcohol producers from the investments is a good move," says FORUT Secretary General, Morten Lønstad. "With the vision and work of Comic Relief it would make no sense to invest in this sector. We wish them good luck with their new policy."