Graphic via ICAN
The new Don’t Bank on the Bomb report came out today with a breakdown and analysis of the nuclear weapons producers and their financial backers.
“At Great Cost: The companies building nuclear weapons and their financiers” is a joint publication of PAX and ICAN. Read the full report below, but first some highlights and key points:
The report shows that globally between January 2022 and August 2024, 260 financial institutions had significant financing or investment relations with nuclear weapon producers. This is a decrease from the 287 institutions published in the previous report! Global investors held $513.5 billion in bonds and shares in these companies. Unfortunately, this is an increase of $36.7 billion since the last Don’t Bank on the Bomb financial analysis.
US investors continue to dominate the top 10. Vanguard remains the biggest investor, with $87.5 billion invested in the nuclear weapon industry. Altogether, 102 US financial institutions held $453 billion of shares and bonds in nuclear weapons producers.
The top lenders are Bank of America, Citigroup and JPMorgan Chase. These also happen to be some of the worst financiers of fossil fuels!
While America is failing in this regard, there are almost no investments from financial institutions in countries that have joined the Treaty on the Prohibition of Nuclear Weapons!
Investing in nuclear weapons is an unacceptable human rights risk. Financial institutions have a key role to play in corporate responsible behavior and should be pushed to stop banking on the bomb. Check out our financial institution divestment resources here.
And don’t forget to read the full report from Don’t Bank on the Bomb!