Comic Relief money invested in arms and tobacco shares
10 December 2013 Last updated at 08:15 GMT
Millions of pounds donated to Comic Relief have been invested in shares in tobacco, alcohol and arms firms, BBC Panorama has learned.
It includes £630,000 in shares in arms firm BAE Systems and more than £300,000 in alcohol manufacturer Diageo.
The BBC has also seen evidence which suggests Save the Children censored criticism of energy firms to avoid upsetting corporate partners.
Both charities deny any wrongdoing.
Declan Lawn reports.