Divestment and Nuclear Weapons
The imminent entry-into-force of the United Nations’ Treaty on the Prohibition of Nuclear Weapons (TPNW) allows for a unique opportunity to hit the nuclear weapons producers where it hurts – their wallets. Through public pressure, we can make financial institutions respond to a new climate in which these weapons of mass destruction are recognised to be incompatible with sustainable, responsible and smart investment practices and pull their investments from companies that make nuclear weapons.
As the risk of a nuclear detonation are reaching levels not seen since the Cold War, banks, pension funds and investment firms still invested $748 billion in the production of nuclear weapons between 2017 and 2019, putting our savings into a weapon that can unleash unprecedented humanitarian suffering across the whole world.
However, while the cash total has grown, we do see an overall decrease in the actual number of investors. Sustainable and ethical investing trends are transforming the financial landscape. More and more people, and therefore financial institutions themselves, are recognising the importance and urgency of taking a stand.
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