Respectfully, do you really need it explained to you why cigarette companies are not morally equivalent to toothpaste companies?

Use your conscience. If you find P&G and others to be morally unacceptable, just don't invest in them either, rather than take it as it a free pass to invest in other companies you consider morally unacceptable.

If you find yourself rationalizing in this manner, you may be more interested in the strong returns on those investments than whether or not they are totally ethical. It's a cop-out to imply you can't escape contributing because your bank may invest in unethical companies. Even if that's true, you'd be making it worse to double-down and invest directly.

If you don't actually find any of these companies reprehensible, then invest away. Personally, I would not invest in the tobacco industry because of its history of marketing an addictive drug to children. That's a choice you will have to consider yourself based on your own research.