Too many still investing in cluster munitions, says PAXDecember 2014
Over 150 financial institutions worldwide invested US$27bn in companies producing cluster munitions from 2011 to 2014, according to a report by Cluster Munition Coalition member PAX (the Netherlands).
The report, Worldwide Investments in Cluster Munitions: a shared responsibility, details the scale of investment in companies producing this banned weapon by banks, pension funds and other financial institutions around the world.
“We must put lives before profit. We’re talking about a weapon that is currently killing civilians in Syria and eastern Ukraine and continues to claim lives in Laos fifty years after it was used. Yet financial institutions have invested US$27 billion—more than twice the GDP of Laos—in producers of this banned weapon,” said Amy Little, campaign manager at the Cluster Munition Coalition.
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