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… European Women in Mathematics, Athena’s Angels) who share a similar vision. To realise the goals described above, FEM has delineated five thematic pillars which have been the basis of our activities since 2018: ● Training FEM organises tailored workshops that: (i) build academic skills and leadership qualities; (ii) strengthen communication and promotion (e.g. negotiation skills) and (iii) raise awareness of behaviour-related topics, e.g. implicit bias, bystander intervention techniques. ● … and exchanging experiences and strategies. Due to the success of the training programme held from 2019, in 2021 FEM held 3 more sessions of the training “Negotiation skills for women in academia” in collaboration with the UM Staff Career Centre. These online sessions were sold-out within a day, highlighting their success and the high demand. Bridging the communication gap Within Maastricht University you are expected to work with people from all over the globe. In collaboration cultural differences … Contact FEM would be happy to discuss any of the issues raised in our report in more detail. Any questions or suggestions for any of our activities should be directed to fem@maastrichtuniversity.nl. For more information regarding our activities please visit the FEM website and the FEM social media accounts. Twitter: @FEMMaastricht Facebook: @FEMMaastricht LinkedIn: @FEM Maastricht University Instagram: @fem_maastricht 2022 | December FEM Maastricht University …

… thank Arabesque Asset Management for having access to its S-Ray tool and data regarding Tobacco firms. Special thanks go to Cardano, a leading risk management firm based in the Netherlands, for supporting the creation of this document by hosting a workshop in Rotterdam on scenario thinking and scenario analysis for the entire team of authors of this report. Last but not least, we would like to thank the members of Tobacco Free Portfolios Working Group, for time and again providing input and feedback … threats, and thus can be seen as a key driver when looking at their revenue streams. The Future of Tobacco Stocks: A Scenario Analysis 16 16 1.4. SOCIAL ENVIRONMENT 1.4.1. BOYCOTTS: GENERAL “A boycott is an act of voluntarily abstaining from using, buying, or dealing with a person, organization, or country as an expression of protest, usually for social or political reasons” (Elliott, 2018). There is a growing trend among colleges and universities in the United States to opt to become smoke- or … on tobacco growth. The Telegraph. Retrieved from https://www.telegraph.co.uk/business/2017/06/11/tax-hikes-emerging-markets-put- brake-tobacco-growth The Future of Tobacco Stocks: A Scenario Analysis 43 43 Blitz D., Fabozzi F., (2017). Sin Stocks Revisited: Resolving the Sin Stock Anomaly. The Journal of Portfolio Management. Fall 2017, 1-7. Bosely, S. (2017). Doctors urge Theresa May to publish anti-smoking strategy. The Guardian. Brandt, A. (2012). Inventing Conflicts of Interest: A History of …