UK - Socially responsible pension funds are being urged to sell all their investments in arms companies.
The Campaign Against the Arms Trade believes it would be impossible for pension managers to engage with arms companies on social and ethical issues.
The organisation said that all the main church denominations had already sold their investments in the arms industry – and urged the rest of the industry to follow suit.
CAAT coordinator Chris Cole told delegates at the recent Local Authority Pension Fund Forum conference in Bournemouth: “The arms trade increases the likelihood that disputes between countries will lead to armed conflict.”
Others disagreed saying that a pension fund’s role was not to disinvest but to engage with the company so that it behaved better in the future.
PIRC senior researcher Peter Southwood said the threat of scheme disinvestment should only be used as a last resort – not because of a dislike of arms companies in general, but because of a failure to be a responsible company.
He added that much of the arms trade goes to “responsible” governments, which have a legitimate need to defend themselves.
PP has analysed the accounts of the biggest pension consulting firms and recorded the turnover (revenue) in their most recent accounts. The full leaderboard is below…
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