UK Investments In Nuclear Weapon Production And A New Global Ban Treaty

EDM number 707 in 2015-16, proposed by Margaret Ritchie on 16/11/2015.
Categorised under the topics of Arms control, Financial institutions and Manufacturing industries.

That this House congratulates the International Campaign to Abolish Nuclear Weapons and PAX Netherlands for their report Don't Bank on the Bombs, published in November 2015; recognises the catastrophic humanitarian and environmental consequences that any accidental or intentional detonation of a nuclear weapon would have; notes with concern that several UK-based banks and investment management funds, including Children's Investment Fund Management, Royal Bank of Scotland, Barclays Bank, Old Mutual and Lloyds Banking Group, have since 2012 collectively invested £21.1 billion into companies engaged in the manufacture of British and American nuclear weapons; believes these investors should disinvest forthwith from such unethical investments; further notes that a new international nuclear weapons ban treaty would likely include a prohibition on the financing of nuclear weapon production, maintenance and modernisation; and urges the Government to fulfil its legal obligations as a depositary of the 1968 Non-Proliferation Treaty by endorsing the Humanitarian Pledge already signed by 121 nations to stigmatise, prohibit and eliminate nuclear weapons in light of their catastrophic humanitarian consequences.

This motion has been signed by a total of 24 MPs.