The United Nations Principles for Responsible Investment (PRI) conference in Canada this week draws investors from around the world, and ICAN is joining forces with sustainability leaders to end the new nuclear arms race. . ICAN’s efforts to reduce funding for the nuclear weapons industry reach new heights as 129 investors express support for the Treaty on the Prohibition of Nuclear Weapons Amid debate on responsible investing in new geopolitical realities did
There is no doubt that the use of nuclear weapons would have devastating effects on people and the environment, but what is less talked about is the incredible damage they would cause to the global economy. Nuclear weapons threaten everything from disrupting supply chains to potentially rendering the world’s food supply inedible (or unable to grow). That is why, since the Treaty entered into force in 2021, banks, insurers, asset managers and asset owners have expressed their support for the TPNW through policies, statements and participation initiatives.
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The UN PRI is an opportunity for more leaders in the field of sustainability and responsible investment to support the treaty and resist a new nuclear arms race.
What does the PRI have to do with nuclear weapons?
The Principles for Responsible Investment consists of six principles designed to guide investors in incorporating responsible investment practices into their operations. The principles were developed by investors in a process convened by the United Nations Secretary-General in 2005. To date, there are nearly 4,000 signatories representing investors with more than $120 trillion in assets under management.
The principles require investors to address environmental, social and governance issues in their policy statements and to work together to advance sustainability goals. Norms against nuclear weapons, coupled with legal obligations for disarmament (Treaty on the Non-Proliferation of Nuclear Weapons) and comprehensive prohibitions (Treaty on the Prohibition of Nuclear Weapons), mean that investments in companies producing these weapons are subject to increased negative public attention and scrutiny. This means that it may cause More than 80% of EU citizens support laws that hold companies accountable for harm to people and the environment, and companies should have legal obligations to prevent them from engaging in human rights abuses and environmental crimes anywhere in the world. I agree on one thing.
How can PRI members play a role in ending the nuclear arms race?
How do PRI signatories address concerns regarding human rights, environmental protection (and remediation of affected environments), proximity to harm and proximity to wrongdoing, including existing active ownership activities? The nuclear weapons industry should be taken into account when considering issues such as:
Investors have an opportunity to make the voices of those who want to eliminate these threats before they get out of control. ICAN, together with Etica SGR, launched the Non-Nuclear Weapons Initiative to mobilize support from the financial community to reject these weapons of mass destruction.
What is the Nuclear Weapons Free Initiative?
This initiative builds on a joint statement issued by financial sector representatives at the Treaty on the Prohibition of Nuclear Weapons meetings. This initiative welcomes the United Nations Treaty on the Prohibition of Nuclear Weapons. Encourage the adoption of nuclear-free financial policies across lending, investment and insurance. We support collaboration with index and other service providers to ensure product availability excluding companies involved in nuclear weapons. Signatures are being accepted from investors and supporters.
join the initiative
