Ackermans & van Haaren divests from Fluor

Belgian bank Ackermans & van Haaren confirms it has divested from American nuclear weapon producing company Fluor, in response to the November 2015 Don’t Bank on the Bomb report.

In the November 2015 update of Don’t Bank on the Bomb, Ackermans & van Haaren (AvH) was listed in the Hall of Shame because of a USD 51 million share holding in American company Fluor.[1] The share holding was filed in May 2015 by Delen Private Bank, a subsidiary of Ackermans & van Haaren.

Fluor is the lead partner responsible for the management and operation of the US Department of Energy´s Savannah River Site and Savannah River National Laboratory. The Savannah River facilities are the only source of new tritium, a radioactive isotope used in nuclear weapon detonators and boosters.

AvH responded to the November report immediately, announcing the decision to divest from Fluor. Less than two months later, AvH confirms it has already divested from Fluor. This means that AvH is no longer invested in any of the nuclear weapon producing companies listed in the 2015 Don’t Bank on the bomb report.

We commend Ackermans & van Haaren for its decision to divest from Fluor. We also congratulate Belgian campaigners with this successful engagement. To quote Willem Staes, of Pax Christi Belgium:

“The decision of AVH proves that divestment campaigns work.  […] Globally, 53 financial institutions restrict or exclude investments in nuclear weapon producers. Active in Belgium are Triodos Bank and VDK Savings Bank. They are, together with AvH, not afraid to say no to investing in weapons of mass destruction. This way the stigma on nuclear weapons is growing – an important factor in the struggle for a legal prohibition of nuclear weapons globally.”[2]

 

[1] Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed in August 2015.

[2] Translated from Flemish: http://www.paxchristi.be/2015/12/dont-bank-on-the-bomb-ackermans-van-haaren-verkoopt-aandelen-in-kernwapenindustrie/

written by

Wilbert is a political scientist working for the PAX Security and Disarmament team since 2010 as researcher and campaigner. He primarily focusses on and frequently publishes and speaks about nuclear disarmament, European security, toxic remnants of war, international military infrasctructure and nuclear weapon free zones.
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