The ACCC has approved an application for a certification trademark that signals to potential investors that investments by a fund manager or financial institution are ‘tobacco-free’.
The trademark has three variations which indicate that the fund manager, or financial institution, does not have direct or indirect investments in companies involved in the manufacture of tobacco products, or the fund manager has committed to divesting any such tobacco holdings within two years.
The ACCC, together with IP Australia, has a role in assessing and approving rules for the use of a certification trademark. As part of its assessment, the ACCC examines the rules to ensure they are not to the detriment of the public, or likely to raise any concerns relating to competition, unconscionable conduct, unfair practices, product safety and/or product information.
On 21 December 2018, the ACCC issued an initial assessment proposing to accept the application.
IP Australia will publish a copy of the certified certification trademark rules on its website.