Activists and Campaigners
Students and Educators
Papers and Publications
FAQs
SHARE

PUBLICATION

Investing in the Arms Race

The latest Don’t Bank on the Bomb report reveals a staggering surge in global financing for the nuclear weapons industry, with 301 financial institutions providing more than $1 trillion in 2025 alone. This comprehensive analysis highlights a growing trend of investment in companies involved in the production, maintenance, and modernization of nuclear arsenals, raising urgent concerns about the ethical responsibilities of investors and the escalating risks of a renewed nuclear arms race.

The report will load below, or download the PDF here.

You might also like:

May 13, 2026

Policy Newsletter #25 - April /May 2026

To sign up for our regular policy and research newsletter click here Read more
PUBLICATION
April 27, 2026

The Cornerstone Report

As states gather for the 2026 NPT Review Conference, there is little expectation that much... Read more
PUBLICATION
April 24, 2026

Investing in the Arms Race

The latest Don’t Bank on the Bomb report reveals a staggering surge in global financing... Read more
June 13, 2025

Hidden Costs: Nuclear Weapons Spending in 2024

In 2024, the nine nuclear-armed states spent more than $100 billion on their nuclear arsenals... Read more
March 27, 2025

Policy Newsletter #23 - March 2025

To sign up for our regular policy and research newsletter click here Read more
PUBLICATION
February 18, 2025

At Great Cost: The companies building nuclear weapons and their financiers shows 260 profiteers from the nuclear weapons industry

The 2024 Don’t Bank on the Bomb analysis identifies 260 banks, pension funds, insurance companies... Read more
October 25, 2024

Policy Newsletter #22 - October 2024

To sign up for our regular policy and research newsletter click here Read more
June 17, 2024

Surge: 2023 Global nuclear weapons spending

In its report "Surge: 2023 Global Nuclear Weapons Spending" the International Campaign to Abolish Nuclear... Read more
June 11, 2024

Policy Newsletter #21 - April/May 2024

To sign up for our regular policy and research newsletter click here Read more
PUBLICATION
May 30, 2024

Untenable investments: Nuclear weapon producers and their financiers

“Untenable Investments” - the latest report in the Don’t Bank on the Bomb series -... Read more
April 01, 2024

Policy Newsletter #20 - February/March 2024

To sign up for our regular policy and research newsletter click here Read more
November 15, 2023

Policy Newsletter #19 - November 2023

To sign up for our regular policy and research newsletter click here Read more
PUBLICATION
July 27, 2023

More investors rejecting nuclear weapons - Don’t Bank on the Bomb policies report

ICAN and PAX published the new report, “Moving Away from Mass Destruction” today, listing financial... Read more
June 12, 2023

Wasted: 2022 Global Nuclear Weapons Spending

In its report "Wasted: 2022 Global Nuclear Weapons Spending" the International Campaign to Abolish Nuclear... Read more
PUBLICATION
June 14, 2022

Squandered: 2021 Global Nuclear Weapons Spending

In its report "Squandered: 2021 Global Nuclear Weapons Spending" the International Campaign to Abolish Nuclear... Read more
February 10, 2022

No place to hide: nuclear weapons and the collapse of health care systems

ICAN is launching a report revealing that the healthcare systems in ten major cities around... Read more
January 19, 2022

101 investors say no to nuclear weapons

There’s a new normal in the financial world in which investors are looking to maximize... Read more
November 11, 2021

Perilous Profiteering: The companies building nuclear arsenals and their financial backers

The 2021 report “Perilous Profiteering: The companies building nuclear arsenals and their financial backers” is... Read more
PUBLICATION
June 10, 2021

NATO: A Non-Nuclear Alliance

Why NATO members should join the UN Ban on Nuclear Weapons In a major report... Read more
PUBLICATION
June 07, 2021

Complicit: 2020 global nuclear weapons spending

ICAN's new report “Complicit: 2020 Global Nuclear Weapons Spending” unveils one year of the cycle... Read more
PUBLICATION
May 13, 2020

Enough is Enough: 2019 Global Nuclear Weapons Spending

In its report "Enough is Enough: Global Nuclear Weapons Spending 2020" the International Campaign to Abolish... Read more
PUBLICATION
November 13, 2019

Schools of Mass Destruction: American Universities in the U.S. Nuclear Weapons Complex

Nearly 50 U.S. universities are involved in the research and design of U.S. nuclear weapons,... Read more
PUBLICATION
October 01, 2019

Beyond the Bomb: Global Exclusion of Nuclear Weapons Producers

More and more financial institutions are saying no to nuclear weapons. PAX's Don’t Bank on... Read more
PUBLICATION
October 01, 2019

Nuclear Weapons Ban Monitor 2019

This is the second edition of the Norwegian Peoples Aid's Nuclear Weapons Ban Monitor, a... Read more
PUBLICATION
October 01, 2018

Nuclear Weapons Ban Monitor 2018

This is the first edition of the Norwegian Peoples Aid's Nuclear Weapons Ban Monitor, a... Read more
PUBLICATION
March 01, 2018

Don’t Bank on the Bomb 2018

PAX's Don’t Bank on the Bomb report is the only regularly published source of information... Read more
PUBLICATION
February 28, 2015

A Pledge to Fill The Legal Gap

The document will load below, or you can click here to download now.   Read more
PUBLICATION
February 01, 2013

Unspeakable Suffering: The Humanitarian Impact of Nuclear Weapons

This compilation of essays by leading experts explains the humanitarian impact of nuclear weapons: their... Read more
PUBLICATION
September 01, 2011

Nuclear Weapons Spending: A Theft of Public Resources

An overview of key facts and figures on nuclear weapons spending. Download the factsheet. Read more