Next Monday, December 3rd, will mark 10 years since the Convention on Cluster Munitions was held in Oslo, Norway. The anniversary coincides with the publication of the annual report "Worldwide investment in cluster munitions: A shared responsibility 2018", published by the international organization PAX, member of the international campaign Stop Explosive Investments that collaborates the Banca Armada campaign.
The report shows that the global ban on cluster munitions is having an extraordinary impact: Compared to the 2017 report, the global level of financial investment in cluster munitions dropped from US$ 31 billion to $9 billion - a reduction of 344 per cent, the report finds.
In addition to the decrease of investments in cluster munitions producers, the report also shows a marked increase in the number of financial institutions explicitly excluding cluster munitions producers from investment. In the 2018 report a total of 110 financial institutions were identified as explicitly excluding investments in cluster munitions, up from 84 in the 2017 report. The report notes a growing trend among investors to put in place clear divestment policies.
Download full report here.
Don't bank on the bomb: a global report on the Financing of Nuclear Weapons Producers
The 2018 Don’t Bank on the Bomb Report found:
A total of USD 525 billion (an increase of USD 81 billion) was made available to the nuclear weapon producing companies, of which USD 110 billion came from just three companies: BlackRock, Vanguard and Capital Group.
329 banks, insurance companies, pension funds and asset managers from 24 countries invest significantly in nuclear weapons
The top 20 nuclear weapon producing companies stand to benefit the most from this increased nuclear threat, most of which have dedicated significant lobbying resources in Washington DC.
On a positive note, since the adoption of the UN Treaty on the Prohibition of Nuclear Weapons 30 companies have ceased investing in nuclear weapons.
Two of the top five largest pension funds in the world are divesting from nuclear weapons.
According to the Spain profile, currently in Spain the financial institutions involved in the financing of companies producing nuclear weapons are: BBVA, Bank Santander, Bank Sabadell, Advalor Movable Investments, Magallanes and the State Company of Industrial Participations.
Download the full report here.
On monday 23th of may international organisation PAX, member of the international campaign Stop Explosive Investments -which Banca Armada campaign collaborates with- has launched the anual report “Worldwide investements in cluster munitions: A shared responsability”. As the report shows, investment in companies producing cluster bombs went up last year. This is in spite of the fact that many investors have decided to stop investing in the manufacture of the internationally banned weapon.
In the past 4 years, 166 financial institutions from 14 countries invested US$ 31 billion in 6 cluster bomb producers. On the other hand, this year the number of institutions with policies excluding investments in cluster bomb producers grew to 88.
Download full report here.
Informe núm. 11 del Centro de estudios por la paz JM Delàs: "La banca armada. Inversiones explosivas de bancos y cajas" (11th Report of the Centre Delàs For Peace and Justice Studies: "Armed Banks. Explosive investments by bank and savings and loans")
This study shows the scale of the involvement in financing the arms business reached by financial institutions which operate in Spain. Includes a ranking of the Spanish banks and their connections to the arms trade, at the top of the list BBVA and Banco Santander.
Author: Jordi Calvo Rufanges