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New Report Calls Out Banks that Make Nuclear Weapons Investments

Published
June 6, 2019
Author
Kirsten Gronlund

New Report Calls Out Banks that Make Nuclear Weapons Investments


By Kirsten Gronlund

Despite the 2017 international Treaty on the Prohibition of Nuclear Weapons, weapons companies continue to build them. Facilitating this production is a massive amount of investment capital contributed by private financial institutions.

Don’t Bank on the Bomb’s new report, Shorting our security: Financing the companies that make nuclear weapons, identifies which banks are investing in nuclear weapons producers, and how much they're investing. The aim of the report is to end the production of nuclear weapons by increasing the stigma associated with these investments.

Many nuclear weapons producers engage in commercial activity other than weapons production, and investors have no way of ensuring how their investments will be used. Thus, "the report shows investments in those nuclear weapon producers at the group level, regardless of the other activities of the company or the percentage of turnover it derives from nuclear weapons-related activities."

The report finds that over 748 billion USD was invested in the top 18 nuclear weapons companies between January 2017 and January 2019. Investments in these companies have grown by 42% compared to Don’t Bank on the Bomb’s previous analysis, up from 325 billion USD. This is due in large part to a 40% increase in Boeing’s share prices; since the conclusion of this analysis, the Boeing 737Max airplane crash has negatively affected the company.

The 748 billion USD represents investments by 325 financial institutions, headquartered in 28 countries. In the previous analysis, only 25 countries hosted institutions with investments in nuclear weapons producers. Since that analysis, 94 institutions representing at least 55,507 million USD in investments ended their contributions. However, this loss is more than offset by the 90 institutions that have since made first-time investments totaling 107,821 million USD. Over half the total investment capital came from just the top 10 investors.

Who is investing the most?

The top 10 investors are all US companies. Their total investments, in millions USD, are listed below.

[av_table purpose='tabular' pricing_table_design='avia_pricing_minimal' pricing_hidden_cells='' caption='' responsive_styling='avia_responsive_table']
[av_row row_style='avia-heading-row'][av_cell col_style='']Name[/av_cell][av_cell col_style='']2019 Report[/av_cell][av_cell col_style='']2018 Report[/av_cell][av_cell col_style='']Change[/av_cell][av_cell col_style='']% Change[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Vanguard[/av_cell][av_cell col_style='']66,048[/av_cell][av_cell col_style='']35,267[/av_cell][av_cell col_style='']30,781[/av_cell][av_cell col_style='']87%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']BlackRock[/av_cell][av_cell col_style='']61,200[/av_cell][av_cell col_style='']38,381[/av_cell][av_cell col_style='']22,819[/av_cell][av_cell col_style='']59%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Capital Group[/av_cell][av_cell col_style='']59,096[/av_cell][av_cell col_style='']36,739[/av_cell][av_cell col_style='']22,357[/av_cell][av_cell col_style='']61%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']State Street[/av_cell][av_cell col_style='']52,835[/av_cell][av_cell col_style='']33,370[/av_cell][av_cell col_style='']19,465[/av_cell][av_cell col_style='']58%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Verisight (now known as Newport Group, formerly Evercore)[/av_cell][av_cell col_style='']31,509[/av_cell][av_cell col_style='']13,712[/av_cell][av_cell col_style='']31,509[/av_cell][av_cell col_style='']130%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']T. Rowe Price[/av_cell][av_cell col_style='']31,234[/av_cell][av_cell col_style='']8,896[/av_cell][av_cell col_style='']22,228[/av_cell][av_cell col_style='']251%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Bank of America[/av_cell][av_cell col_style='']29,033[/av_cell][av_cell col_style='']25,851[/av_cell][av_cell col_style='']3,182[/av_cell][av_cell col_style='']12%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']JPMorgan Chase[/av_cell][av_cell col_style='']23,962[/av_cell][av_cell col_style='']29,679[/av_cell][av_cell col_style='']-5,717[/av_cell][av_cell col_style='']-19%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Wells Fargo[/av_cell][av_cell col_style='']20,261[/av_cell][av_cell col_style='']13,497[/av_cell][av_cell col_style='']6,764[/av_cell][av_cell col_style='']50%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Citigroup[/av_cell][av_cell col_style='']17,017[/av_cell][av_cell col_style='']16,489[/av_cell][av_cell col_style='']528[/av_cell][av_cell col_style='']3%[/av_cell][/av_row]
[/av_table]


Search here to find out if your bank is investing in nuclear weapons.  

Who stopped investing?

Below are the ten largest investors that no longer have investments in the top 18 weapons producers.

[av_table purpose='tabular' pricing_table_design='avia_pricing_default' pricing_hidden_cells='' caption='' responsive_styling='avia_responsive_table']
[av_row row_style='avia-heading-row'][av_cell col_style='']Name[/av_cell][av_cell col_style='']Country[/av_cell][av_cell col_style='']Millions USD[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Children's Investment Fund Management[/av_cell][av_cell col_style='']UK[/av_cell][av_cell col_style='']1,469[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Marathon Asset Management[/av_cell][av_cell col_style='']Canada[/av_cell][av_cell col_style='']635[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']William Blair & Company[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']474[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Mackie Research Financial[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']223[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Discovery Capital Management[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']174[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']ABP[/av_cell][av_cell col_style='']Netherlands[/av_cell][av_cell col_style='']104[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Blue Harbour Group[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']97[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Manning & Napier[/av_cell][av_cell col_style='']UK[/av_cell][av_cell col_style='']82[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Teacher Retirement System of Texas[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']73[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Glenmede[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']70[/av_cell][/av_row]
[/av_table]

Who started investing?

Below are the ten new investors with the highest investments.

[av_table purpose='tabular' pricing_table_design='avia_pricing_default' pricing_hidden_cells='' caption='' responsive_styling='avia_responsive_table']
[av_row row_style='avia-heading-row'][av_cell col_style='']Name[/av_cell][av_cell col_style='']Country[/av_cell][av_cell col_style='']Millions USD[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Unum Group[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']31,508.7[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']WBC Holdings[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']20,260.8[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']SMBC Group[/av_cell][av_cell col_style='']Japan[/av_cell][av_cell col_style='']8,201.5[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Dassault Family[/av_cell][av_cell col_style='']France[/av_cell][av_cell col_style='']6,772.5[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Janus Henderson[/av_cell][av_cell col_style='']UK[/av_cell][av_cell col_style='']6,104.9[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']United Overseas Bank[/av_cell][av_cell col_style='']Singapore[/av_cell][av_cell col_style='']4,314.4[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']AXA Equitable[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']3,733.7[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Point72 Asset Management[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']3,546.3[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Strategic Incoe Management[/av_cell][av_cell col_style='']USA[/av_cell][av_cell col_style='']2,704.8[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Development Bank of Japan[/av_cell][av_cell col_style='']Japan[/av_cell][av_cell col_style='']1,973.0[/av_cell][/av_row]
[/av_table]

Where is the money going?

Total investments in each company are listed in millions USD.

[av_table purpose='tabular' pricing_table_design='avia_pricing_default' pricing_hidden_cells='' caption='' responsive_styling='avia_responsive_table']
[av_row row_style='avia-heading-row'][av_cell col_style='']Name[/av_cell][av_cell col_style='']2019 Report[/av_cell][av_cell col_style='']2018 Report[/av_cell][av_cell col_style='']Change[/av_cell][av_cell col_style='']% Change[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Aecom[/av_cell][av_cell col_style='']19,048[/av_cell][av_cell col_style='']20,101[/av_cell][av_cell col_style='']-1,054[/av_cell][av_cell col_style='']-5%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Aerojet Rocketdyne[/av_cell][av_cell col_style='']4,791[/av_cell][av_cell col_style='']2,685[/av_cell][av_cell col_style='']2,107[/av_cell][av_cell col_style='']78%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Airbus[/av_cell][av_cell col_style='']44,455[/av_cell][av_cell col_style='']30,691[/av_cell][av_cell col_style='']13,764[/av_cell][av_cell col_style='']45%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']BAE Systems[/av_cell][av_cell col_style='']22,814[/av_cell][av_cell col_style='']25,986[/av_cell][av_cell col_style='']-3,172[/av_cell][av_cell col_style='']-12%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Bechtel[/av_cell][av_cell col_style='']4,000[/av_cell][av_cell col_style='']7,000[/av_cell][av_cell col_style='']-3,000[/av_cell][av_cell col_style='']-43%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Boeing[/av_cell][av_cell col_style='']254,296[/av_cell][av_cell col_style='']87,010[/av_cell][av_cell col_style='']167,286[/av_cell][av_cell col_style='']192%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']BWX Technologies[/av_cell][av_cell col_style='']8,987[/av_cell][av_cell col_style='']5,865[/av_cell][av_cell col_style='']3,122[/av_cell][av_cell col_style='']53%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Fluor[/av_cell][av_cell col_style='']17,465[/av_cell][av_cell col_style='']18,276[/av_cell][av_cell col_style='']-812[/av_cell][av_cell col_style='']-4%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']General Dynamics[/av_cell][av_cell col_style='']72,630[/av_cell][av_cell col_style='']45,437[/av_cell][av_cell col_style='']27,193[/av_cell][av_cell col_style='']60%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Honeywell[/av_cell][av_cell col_style='']78,397[/av_cell][av_cell col_style='']86,806[/av_cell][av_cell col_style='']-8,408[/av_cell][av_cell col_style='']-10%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Huntington Ingalls Industries[/av_cell][av_cell col_style='']12,568[/av_cell][av_cell col_style='']9,915[/av_cell][av_cell col_style='']2,653[/av_cell][av_cell col_style='']27%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Jacobs Engineering (includes CH2M Hill)[/av_cell][av_cell col_style='']15,563[/av_cell][av_cell col_style='']11,616[/av_cell][av_cell col_style='']3,947[/av_cell][av_cell col_style='']34%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Larsen & Toubro[/av_cell][av_cell col_style='']14,855[/av_cell][av_cell col_style='']15,905[/av_cell][av_cell col_style='']-1,050[/av_cell][av_cell col_style='']-7%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Lockheed Martin[/av_cell][av_cell col_style='']77,543[/av_cell][av_cell col_style='']79,118[/av_cell][av_cell col_style='']-1575[/av_cell][av_cell col_style='']-2%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Northrop Grumman (includes Orbital ATK)[/av_cell][av_cell col_style='']53,023[/av_cell][av_cell col_style='']52,507[/av_cell][av_cell col_style='']516[/av_cell][av_cell col_style='']1%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Safran[/av_cell][av_cell col_style='']24,661[/av_cell][av_cell col_style='']18,105[/av_cell][av_cell col_style='']6,556[/av_cell][av_cell col_style='']36% [/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Serco[/av_cell][av_cell col_style='']2,265[/av_cell][av_cell col_style='']3,653[/av_cell][av_cell col_style='']-1,389[/av_cell][av_cell col_style='']-38%[/av_cell][/av_row]
[av_row row_style=''][av_cell col_style='']Thales[/av_cell][av_cell col_style='']21,080[/av_cell][av_cell col_style='']5,269[/av_cell][av_cell col_style='']15,811[/av_cell][av_cell col_style='']300%[/av_cell][/av_row]
[av_row row_style='avia-heading-row'][av_cell col_style='']Grand Total[/av_cell][av_cell col_style='']748,440[/av_cell][av_cell col_style='']525,945[/av_cell][av_cell col_style='']222,495[/av_cell][av_cell col_style='']42%[/av_cell][/av_row]
[/av_table]

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