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ICAN and PAX published the new report, “Moving Away from Mass Destruction” today, listing financial institutions actively restricting investments in the companies producing nuclear weapons. The report analyses the policies of these banks, pension funds, insurance companies and asset managers, and shows year-over-year growth in the number of investors avoiding the nuclear industry.
The report profiles 109 financial institutions that restrict investments in the companies involved in the development, production, testing, maintenance and stockpiling of nuclear weapons. These banks, pension funds, asset managers and other financial sector actors actively demonstrate the stigma attached to nuclear weapons by adopting policies against them. 11 new institutions have been added since previously published research.
The number of financial institutions listed in this report has grown steadily, from 35 institutions when the analysis was first conducted in 2014, to the 109 listed today. The entry into force of the Treaty of Nuclear Weapons was followed by the biggest spike in policies, from 77 to over 100.
The growing numbers of financial institutions listed provides a snapshot of the emerging norm within the financial sector to avoid companies contributing, and profiting from, existential risk. In addition to the increase in identified policies, the application of these policies is becoming more comprehensive, not only are investors avoiding the industry, they’re making sure that they’re not exposed in any way to the production of inhumane weapons.
This report puts the spotlight on those investors that actively chose to move away from an industry that keeps in existence the most destructive, inhumane and indiscriminate weapons ever created.. As main author of the report, Alejandra Muñoz puts it: “The growing number of financial institutions listed in the report is a welcome development. Strong financial sector engagement can provide a resilient mechanism to decrease the legitimacy of nuclear weapons and create an environment for their reduction and eventual elimination.”
To learn more about how the financial community can contribute to a world free of nuclear weapons visit divest.icanw.org