Who invests?

The 2016 update of the report shows that 390 financial institutions from around the world invested 498 billion USD into 27 companies involved in the production, maintenance and modernization of nuclear weapons since January 2013.

Download the full Hall of Shame.

Top 10 investors

This chart shows the 10 financial institutions with the largest total investments since January 2013 in the 27 companies involved in the production, maintenance and modernization of nuclear weapons identified in this report .

161208-top-10-investors

2016 Investors, per country

The country profiles are easy to use fact sheets that include a summary of the methodology, the producers list, and more. They provide detailed information on the financial institutions headquartered in each country.

Australia | Bahrain | Belgium | Canada| China| Denmark| France| Germany| India| Israel| Italy| Japan| Jordan| Kuwait| Libya| The Netherlands |  Norway | Saudi Arabia | Singapore| Spain| Sweden| Switzerland| Taiwan| United Arab Emirates | United Kingdom |United States

The 2015 update of the report

The 2015 update of the report shows that 382 private and public financial institutions from around the world invested 493 billion USD into 26 companies involved in the production, maintenance and modernization of nuclear weapons since January 2012.

2015 Investors, alphabetically

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | R | S | T | U | V | W | Y

2015 Investors, per country

The country profiles are easy to use fact sheets that include a summary of the methodology, the producers list, and more.

Australia | Austria | Bahrain | Belgium | Canada | Chile | China | Denmark | France | Germany |
India | India | Indonesia | Israel | Italy | Japan | Kuwait | Libya | Macedonia | Netherlands | Norway | Saudi Arabia  | Singapore  | Spain | Sweden | Switzerland | Taiwan | United Arab Emirates |
United Kingdom | United States

The 2014 update of the report

2014 Investors, alphabetically

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | R | S | T | U | V | W | Y

2014 Investors, per country

The country profiles are easy to use fact sheets that include a summary of the methodology, the producers list, and more.

Australia  | Austria | Bahrain   | Belgium  | Canada  | China  | Denmark   | France   | Germany  |
India  | Israel  | Italy  | Japan  | Kuwait  | Libya  | Netherlands  | Norway  | Saudi Arabia  |
Singapore  | South Africa  | Spain  | Sweden  | Switzerland  | Taiwan  | United Arab Emirates  |
United Kingdom  | United States

Hall of Shame Methodology

Which financial institutions are involved in the financing of the selected nuclear weapon companies was researched using annual reports, stock exchange filings and other publications of the companies concerned, archives of trade magazines, local newspapers and the financial press as well as specialized financial databases (Thomson ONE, Bloomberg). Used resources are clearly mentioned.

Financial institutions can be involved in financing companies by providing corporate loans, by assisting companies with share- and bond issues, and by (managing) investments in shares and bonds of these companies. For asset managers and pension funds, the only relevant type of financial involvement is (managing) share- and bondholdings of the selected companies.

In this report, we have focussed on the financial institutions which are found to have most significant financing relationships with one or more of the selected nuclear weapon companies. To select these financial institutions, the following criteria are used:

  • All financial institutions involved in loans and underwriting deals for one or more of the companies since 1 January 2011;
  • All financial institutions which own at least 0.5% of the outstanding shares or bonds of at least one of the companies.

What is included

Each section provides the following information for each financial institution:

The types of financial relations which the financial institution has with one or more nuclear weapon companies. The relations are grouped by loans, investment banking and asset management. Financial activities are listed alphabetically by nuclear weapons company for each category.

The name of the receiving company, the amount, the date and (if known) the purpose for each financial relation.

All data is presented in tables. For loans, the first column represents the names of the selected companies that received the loans, the second column shows which subsidiary or part of the selected company has issued the loan. The third column is the purpose of the loan. The fourth column (# FI’s), shows the number of financial institutes participating in loans as loans are often offered by a syndicate of financial institutions. The fifth column represents the value of the total loan offered by the syndicate to the company. The sixth column is the amount for which this specific financial institute participated in the loan. This amount is calculated depending on the role the financial institute plays in the syndicate, as explained below. The last column shows the date the loan was issued.

The tables for underwriting of share and bond issuances have the same columns. The method for calculating these the value per financial institute can be below.

The tables for share and bondholdings managed by the financial institutions show the nuclear weapon producing companies, the country in which this company is situated, the percentage of all bonds or shares outstanding hold or managed by the specific institution, and the total value of the shares or bonds held by the financial institution in the indicated company.

When comparing this report with last years report please keep in mind that we have excluded some Indian sources due to recently identified errors in the Bloomberg databases regarding Indian Mutual Funds.

The financial institutions identified include banks, pension funds, sovereign wealth funds, insurance companies and asset managers from many different countries. They have provided various types of financial services to nuclear weapon companies.