Like most people I would have expected that the funds this kind of event generates goes direct to good
causes, the actual fact that these funds are invested first is not an issue as long as good business decisions are
made and the investments are made with full knowledge of who and where the money is going and that all
the profits are released back into the charity and not into the pockets of greedy investment brokers. Sadly
this kind of behaviour casts a shadow over the hard work that charities do and will no doubt leave many
people reluctant to donate in this way in the future.
The worrying thing that future donators may want to consider is that rather than come out and apologise
for the mishap Comic Relief have refused to comment on where the funds are currently invested and have
changed the way they present their annual accounts, this means it is now impossible to see where they are
actually putting the investments and could also be construed as a ‘ducking and diving’ act, not the kind of
behaviour one would expect from a apparently charitable organisation.
Panorama, the BBC investigative show that revealed this story spoke to Helen Wildsmith who as an ethical
fund manager looks after the cash of thousands of charities said that she was surprised that Comic Relief
would risk its integrity, reputation and future donations in this way, she went on to say
“If people who’ve been giving them money, after watching the television, next year think twice and don’t
give that money, because they’re concerned about their investment policy, then that could be argued to be a
breach of fiduciary duty.”
If you usually make a pledge or donation then maybe it’s worth looking at charities at local level from now
on rather than donating to what seems to be another cooperate organisation capitalising on its position.
November 28, 2013 / Sticky
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The argument for plain packaging on cigarettes and tobacco products rumbles on and on here in the UK.
The government delayed a decision back in July on whether or not all cigarettes should be sold under plain
packaging; many people think that it’s merely a delaying tactic as the UK government comes up with a way
around the pressurised situation they are in. On one hand they are being pressured by the EU and health
organisations to do all they can to discourage smoking and protect the young and on the other they are
under pressure from the tobacco companies which are big business, big business that pump a lot of money