Page 1

DISINVEST IN MINES AND CLUSTER MUNITIONS Luxembourg Compensation Fund for the Social Security will disinvest - On 18 August 2010 the newspaper “Le Quotidien” from Luxembourg, reported that a Member of Parliament accused the public “Fonds de compensation de la Sécurité sociale” of financing enterprises producing cluster munitions, namely Lockheed Martin, L-3 Communications, Textron, Alliant Techsystems, Hanwha et Singapore Technologies Engineering) for a total amount of approximately 150,000 euros. On 20 August, the enterprise said it would stop investing in enterprises linked with cluster munitions. Handicap International said an official black list of cluster munition producers is dramatically missing. Information provided by Handicap International Luxembourg to Handicap International Belgium on 20 August 2010 Germany criticised for buying body scanner from cluster munitions producer – “Germany's interior ministry is facing criticism for buying airport body scanners from the subsidiary of a US company known to produce internationally banned cluster munitions,” Deutsche Welle, as well as other media, reported on 11 August 2010, referring to two full-body scanners to be used for tests at Hamburg airport in September from a subsidiary of the US L3 Communications company, which according to a survey by the IKV PAX Christi aid organization, is a producer of cluster ammunition. Handicap International Germany accused the government in Berlin of double standards. “You simply weaken the treaty prohibiting cluster munitions if you pursue such business activities," the director told Deutsche Welle. The German pressure group called on the government “to renounce such deals immediately." According to Handicap International Germany, the government replied that “this is only a test phase, we don’t buy the appliances at this stage. If it comes to a bigger order, we will apply the usual tender procedures”.,,5891121,00.html Japan banks ban financing cluster arms - On 30 July 2010, AFP reported that Japan's three largest banks would refrain from financing the manufacture of cluster bombs. Sumitomo Mitsui Financial Group (SMFG), Mitsubishi UFJ Financial Group (MUFG) and Mizuho Bank said they had stated in their regulations they would deny loans and investments for the productions of cluster munitions. France prohibits direct and indirect financing of producers of cluster munitions - On 8 July 2010, France announced that direct and indirect financing of the production or trade of cluster munitions is forbidden by French law. On the

occasion of the debate on the national implementation law of the Oslo Convention in the French parliament, the government officially declared that "any knowingly direct or indirect financial assistance, to a manufacturing or trading activity of cluster munitions would be considered as an assistance, encouragement or inducement falling within the scope of criminal law". This declaration is the first statement in France specifying the prohibition of assistance stipulated by the Oslo Convention, and incorporated in the law. Information provided to the CMC by Handicap International France on 7 July 2010 The minutes of the plenary session of the National Assembly More information on and Dutch financial institutions call on government to prohibit investments in cluster munitions - The Dutch Bank ASN called on the House of Representatives in the Netherlands to support the proposal on a prohibition on investments in cluster munitions. “It is incomprehensible to ratify the treaty and leave space to invest in this sector”, the bank said on 2 July 2010. The call follows after two main Dutch pension funds (APG and MN Services) publically expressed a similar call to the Dutch government earlier this year to install a prohibition on direct investments in cluster munitions. On 8 December 2009, the Dutch House of Representatives adopted a motion to prohibit investments in cluster munitions. However, on 31 March 2010, the Dutch Minister of Finance and Minister of Social Affairs decided not to implement the motion. A debate in the House of Representatives about the decision not to carry out the motion is scheduled for September.,3554504&_dad=portal&_schema=PORTAL&p_i tem_id=6107199 UBS AG excluded investments in cluster munition producers - “UBS AG has pulled its investments from companies that manufacture cluster bombs, the Swiss bank said on 10 May 2010”, Associated Press in Zurich reported. “UBS Global Asset Management took a policy decision last month to exclude such firms from its actively managed Swiss and Luxembourg funds”, a spokeswoman said. “The bank did not disclose which firms were in the funds.” Information provided by Handicap International Switzerland on 11 May 2010. Financial institutions continue to invest in cluster munition producers - IKV Pax Christi (Netherlands) and Netwerk Vlaanderen (Belgium) launched an update to their October 2009 report, “Worldwide investments in cluster munitions – a shared responsibility”, in Geneva on 14 April 2010. The report revealed that “The world’s top financial institutions continue to finance the following seven leading producers of

cluster bombs and cluster bomb components: Alliant Techsystems (USA), Hanwha (South Korea), L-3 Communications (USA), Lockheed Martin (USA) Poongsan (South Korea), Singapore Technologies Engineering (Singapore) and Textron (USA).� on_home_stop_explosive_investments.htm

NL 27 Devinvest in mines and cluster munitions  

Japan banks ban financing cluster arms - On 30 July 2010, AFP reported that Japan's three largest banks would refrain from financing the man...

Read more
Read more
Similar to
Popular now
Just for you