24 December 2013
New report: worldwide investments in cluster munitions as a shared responsibility
IKV Pax Christi (the Netherlands) and FairFin (Belgium) have published an updated report entitled Worldwide Investments in Cluster Munitions: a Shared Responsibility. The original version of this report was published in 2009. The Convention on Cluster Munitions (CCM) bans the use, production, stockpiling and transfer of cluster munitions. The report stipulates that financing the production of cluster munitions constitutes ‘assistance’ or ‘encouragement’ which is prohibited by the CCM.
The report identifies 139 financial institutions that invested more than 24 billion US dollars in seven cluster munitions producers. It also identifies a growing group of states that take the view that the CCM bans investment in cluster munitions. It notes that ‘Experience with legislation in Belgium, Ireland, Italy, Liechtenstein, Luxembourg, the Netherlands, New Zealand, Samoa and Switzerland can serve as model for ways signatory states, States Parties to the CCM and states that are not party to the CCM can prohibit investment in cluster munitions producers by national law.’