UK banks accused of investing in companies manufacturing cluster bombs & other weapons, includes comments from banks

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16 August 2011

UK banks fund deadly cluster-bomb industry

Author: Jerome Taylor, Independent [UK]

British high-street banks…are investing hundreds of millions of pounds in companies that manufacture cluster bombs – despite a growing global ban outlawing the production and trade of the weapons…The Royal Bank of Scotland, Lloyds TSB, Barclays and HSBC have all provided funding to the makers of cluster bombs…a weapons system that is inherently indiscriminate and routinely maims or kills civilians...[Since the report] HSBC said it has brought in a new investment policy that forbids it from investing in companies that make such weapons…A spokeswoman for Barclays said the company's investment policy "explicitly prohibits financing trade in landmines, cluster bombs or any equipment designed to be used as an instrument of torture"…In contrast, Lloyds and RBS resolutely defended their investments. [also refers to Alliant Techsystems, Lockheed Martin, Textron]

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1 August 2011

[video] Episode 3

Author: Chris Atkins, Amnesty International

In this special episode of Amnesty TV, film maker Chris Atkins blows the lid on UK Banks’ investment in cluster bombs...Despite the UK being signed up to an international treaty banning cluster bombs, last year alone the Royal Bank of Scotland provided over $80million in funding to companies involved in their production. We want that to stop. [also refers to Lloyds, Barclays, HSBC, ING, Credit Suisse, Co-operative Bank (part of Co-operative Group), Triodos Bank, DnB NOR, ASN Bank (part of SNS Reaal), Ethias]

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