الإثنين 01 جماد ثاني 1438 هـ 27 فبراير 2017 - 10:16 مساء



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بيان من حزب الخضر اللبناني 29/01/2012
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أحلامنا المشتركة -> Greens Press -> Councils invest millions in arms manufacturers
عدد مرات القراءة 21902006-05-09

COUNCILS INVEST MILLIONS IN ARMS MANUFACTURERS
THREE-QUARTERS OF SE COUNCILS INVEST IN CLUSTER-BOMB MAKERS

GREEN Party Euro-MP Caroline Lucas has called for all South-East councils to
adopt ethical investment policies after figures released under the Freedom
of Information Act showed the region’s nine local authority pension funds
invested more than £82 million in arms manufacturers in 2005.

Dr Lucas, MEP for South-East England and Co-president of the European
Parliament’s cross-party Peace Initiatives group, said: “It’s totally
unacceptable that local authority pension funds are investing millions of
public money in some of the world’s biggest arms manufacturers without any
consultation or scrutiny by either democratically-elected councillors or the
pensioners whose cash is being used in this way.

“Local authorities invest huge sums of money – especially through their
pension funds – and they have a responsibility to invest this money
ethically. This report makes clear they are just not doing so.”

Dr Lucas made her comments after figures obtained under the Freedom of
information Act by the Campaign Against the Arms trade (CAAT) were
published, showing the level of investment in the world’s largest 11 arms
companies – and top five arms firms based in the UK.

The figures, which underestimate the scale of public arms’ investments as
many local authorities have not given information for arms investments
within externally-managed portfolios, show that the nine local authority
pension funds invested a total of £82,895,203 in the ‘basket’ of bomb-makers
selected by CAAT.

More than £28 million of that is invested in BAE Systems, the UK’s largest
arms company - currently under investigation for fraud, almost £2 million in
Lockheed Martin, the world’s largest arms company and arguably the world’s
biggest manufacturer of nuclear weapons, and more than £6 million in
Halliburton, the US military services conglomerate accused of over-pricing
an faulty accounting in Iraq (charges which Halliburton deny).

All nine of the region’s local authority pension funds have shares in arms
manufacturers, seven of them in one of more companies manufacturing cluster
bombs or their components. Cluster bombs are responsible for significant
civilian and indiscriminate casualties in contravention of international
law.

Hampshire is the region’s largest investor, with at least £22,414,801 tied
up in arms manufacturers. Other investment levels are:

East Sussex (whose pension fund includes employees and former employees of
Brighton and Hove, a UN Peace Messenger City): at least £13,222,657
Buckinghamshire (including Milton Keynes): at least £12,323,558
Surrey: at least £10,106,162
Berkshire (including reading and all unitary authorities formerly in the
county of Berkshire): at least £9,179,812
Kent (including Medway Towns): at least £8,977,000
Oxfordshire: at least £4,270,385
Isle of Wight: at least £1,664,842
West Sussex: at least £735,986

Dr Lucas added: “This data puts the lie to the notion that councils are only
investing in cash-strapped vital UK firms and exposes the sheer scale of
local authorities’ involvement in the munitions business.
“I urge all councils to adopt ethical investment policies to ensure the
money they control is invested in projects which will benefit their local
communities, not wreak death and destruction on others.”






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