Ways Industry Pursues Influence with Policymakers

Adams, Peter

doi:10.1007/978-3-658-35635-4_13

Cited by 2 publications

(1 citation statement)

References 53 publications

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“…For example, the gambling industry has been shown to wield different forms of soft and hard power over consumers and regulatory action (de Lacy-Vawdon et al, 2023). This power is visible in actions such as marketing, product design and preference-shaping, but also in political agenda setting and framing, direct relationships with decision-makers, and industry influence over research (de Lacy-Vawdon et al, 2023;Johnson et al, 2023;Reith & Wardle, 2022;Adams, 2022;Cassidy et al, 2013). These power structures span beyond the gambling industry, and link to wider societal processes such as neoliberal capitalist ideology, globalisation, and financialisation (de Lacy-Vawdon et al, 2023;Reith 2013;Nicoll, 2013).…”

Section: Structural and Commercial Driversmentioning

confidence: 99%

Gambling and financial harms: a multi-level approach

Marionneau,

Nikkinen

2024

CGS

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Section: Structural and Commercial Driversmentioning

confidence: 99%

Gambling and financial harms: a multi-level approach

Marionneau,

Nikkinen

2024

CGS

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

Berret,

Marionneau,

Sievänen

et al. 2024

Front. Public Health

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BackgroundThe production of addictive commodities is subject to a range of commercial determinants. There has nevertheless been a gap in understanding how investments into addictive commodities may function as commercial determinants. Institutional investors can yield important financial power with their investment decisions. Many investors apply responsible investment (RI) policies to address environmental, social, and governance concerns. Negative screening is used to exclude certain sectors or companies from investment portfolios, mainly for ethical concerns. Negative screening also affects investment into tobacco and other addictive industries. This article investigates RI policies toward addictive industries among institutional investors that are signatories of the Tobacco-Free Finance Pledge (TFFP; N = 161). The TFFP is an initiative created in 2021 to de-normalize tobacco-related investments.MethodsThe mixed-method study uses descriptive statistics to quantify the extent and scope of exclusion policies as well as institutional and geographical profiles of investors, and a qualitative analysis of the justifications for these exclusion policies.ResultsSome TFFP signatories apply negative screening to other addictive industries (gambling: 35%; alcohol: 24%; cannabis 12% of signatories). There are important differences in the applied exclusion thresholds, with only 47% of TFFP signatories applying a zero-tolerance policy to tobacco. Thresholds are higher for other addictive industries. Signatories also differ in terms of their geographical and investor profiles. Justifications pertaining to compliance with international standards and reputational risks were the most common.ConclusionAddictive industries, such as tobacco, alcohol, gambling, and recreational cannabis, are increasingly excluded by investors. However, different understandings of RI influence how sector exclusions are implemented. Divesting from tobacco and other addictive industries is a crucial step toward a public health approach that prioritizes population health over financial profits. Prominent institutional investors are influential opinion leaders who can change the behavior of other investors and de-normalize controversial industries and reduce or prevent harm.

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Ways Industry Pursues Influence with Policymakers

Cited by 2 publications

References 53 publications

Gambling and financial harms: a multi-level approach

Gambling and financial harms: a multi-level approach

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

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