nuclear-news

Money talks: 109 global institutions restrict investments in nuclear weapons

Exciting news in the latest PAX-ICAN report “Moving away from mass destruction” out today: the number of financial institutions across the globe rejecting nuclear weapons keeps growing! The number of financial institutions excluding the nuclear weapons industry from their investments continues to grow year on year, and many are naming the UN nuclear weapons ban treaty as a reason to stop funding the bomb.

The 109 financial institutions profiled in this report know that nuclear weapons represent a systemic reputational and regulatory risk, and are putting policies in place that limit or completely exclude any financial engagement with this controversial industry.

The report shows the financial community is taking a more responsible approach, embracing the positive role they can play in further stigmatising and delegitimizing nuclear weapons. Even with Russia’s illegal invasion of Ukraine, and skyrocketing defence spending, the financial community is holding a firm line against financing weapons of mass destruction.

These policies do more than simply cut off the funding to the individual companies producing nuclear weapons: they signal that doing business off weapons of mass destruction is not a viable business model particularly now the UN Treaty on the Prohibition of Nuclear Weapons is in place.  https://www.dontbankonthebomb.com/policy-analysis-report-moving-away-from-mass-destruction/

July 29, 2023 - Posted by Christina Macpherson | business and costs, weapons and war