Denmark’s AP Pension is dropping tobacco producers from its fund’s portfolio of stocks.

In a move that will lead to the sale of hundreds of millions of euros of stocks this year, the €15bn fund says all tobacco producers will be cut from all of its funds in accordance with the UN Global Goals for Sustainable Development. AP Pension says the decision was taken for three primary reasons: tobacco is harmful to health, the growing of tobacco is damaging to the environment because of forest clearance, soil degradation and water pollution, and because tobacco stocks are now in a trend of falling prices.