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The indexes were tailored for those following environmental, social, and governance-related investing philosophies, and the head of MSCI's ESG index division noted that "there is growing demand for exclusionary indexes globally, including interest among the world's largest pension and endowment funds for tobacco exclusion benchmarks." The iShares Developed World ex Tobacco Index Fund , an open-end mutual fund, now tracks one of those indexes, and other ESG mutual funds and ETFs have taken a broader approach that excludes not only tobacco companies but also other attributes that ESG investors find objectionable.

Methods Identification of tobacco product flavour policies Countries that have national-level tobacco flavour policies as of August 2019 were identified using three sources: (1) search of the 2015 Tobacco Control Legal Consortium report on How Other Countries Regulate Flavored Tobacco Products;11 (2) communications with Campaign for Tobacco-Free Kids International Legal Consortium (ILC)12 and (3) search of news stories using Tobacco Watcher ( an online tobacco media monitoring site.13 Countries were included if they had enacted national or multinational regional tobacco product flavour policies

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