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Serco pulls out of bidding for work on UK’s nuclear arsenal, because of ethical investing concerns

The rise of ethical investing has forced the outsourcer Serco to
pull out of bidding to help manage Britain’s nuclear weapons arsenal,
leaving the Ministry of Defence reliant on fewer potential partners for the
critical work. The FTSE 250 company has abandoned plans to compete for
contracts with the Atomic Weapons Establishment, which designs, makes and
maintains warheads, City sources revealed. The decision follows warnings
from fund managers that working with nuclear weapons might force them to
dump Serco shares due to non-compliance with Environmental, Social and
Governance (ESG) standards.

 Telegraph 6th Nov 2021

November 8, 2021 - Posted by | business and costs, UK, weapons and war

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