7 UK firms finance globally banned cluster bombs
CMC member organization PAX published a report on companies and institutions that have invested in the globally banned cluster bombs which are being used in places like Ukraine and Syria. Even in Laos almost 50 years since the bombs were dropped are still effecting residents of the surrounding areas to this very day.
In the report it highlights financial institutions that have invested in the cluster bomb manufacturers. The report also highlights those institutions that have dis invested from cluster bomb producers and subsequently established clear policies that make sure no more investments would be made in the future by the institution.
The report was first published on 29 October 2009, and subsequent updates were published on 14 April 2010, 25 May 2011, 12 June 2012, and 12 December 2013.
The report lists institutions who have been investing in these munitions from 2011 to 2014. 7 of those institutions are British and include insurance companies to asset management companies all come up in the ‘Worldwide Investments In Cluster Munitions’ report.
International laws state these weapons are illegal to use because they are indiscriminate in nature which does not differentiate between fighter or civilian. Unexploded left overs usually is left after the detonation of one of these bombs leading to deaths not only of those hit by the bomb but also those who may happen to live in the surrounding area in some cases decades later like in Laos.
Report download can be found here: http://www.stopexplosiveinvestments.org/report