The number of banks, pension funds, asset managers and insurance companies investing in the production of nuclear weapons is going down, a trend noted in the 2021 release of “Perilous Profiteering: The companies building nuclear arsenals and their financial backers” a new report by ICAN and PAX.
The data shows 52 fewer financial institutions invest than in the previous year’s analysis, with significant drops in share and bond values.
The 2021 report “Perilous Profiteering: The companies building nuclear arsenals and their financial backers” is a joint publication of ICAN and its partner PAX. The report details how 338 financial institutions made $685 billion available to 25 nuclear weapon producing companies from China, France, India, the Russian Federation, the United Kingdom and the United States.
This report looks at those with vested interests to keep a nuclear arms race going. The companies that want to get contracts to build weapons of mass destruction, and the private sector financiers and investors that want to generate a profit without apparent concern for the devastating potential consequences of any use of the products they support. It is only by knowing those who seek to maintain the status quo that we can engage and shift their behaviour.
Read the Executive summary