March, 07 2018, 07:30am EDT
Massive $81 Billion Increase in Investment in Nuclear Weapons to Fuel Posturing
Nobel Peace Prize Laureate ICAN (International Campaign to Abolish Nuclear Weapons) and PAX today released the 2018 'Don't Bank on the Bomb' Report, which found a massive increase of USD 81 billion in new investment in 2017 compared to 2016. The report shows 20 companies in particular stand to profit the most from the increase in nuclear threats.
WASHINGTON
Nobel Peace Prize Laureate ICAN (International Campaign to Abolish Nuclear Weapons) and PAX today released the 2018 'Don't Bank on the Bomb' Report, which found a massive increase of USD 81 billion in new investment in 2017 compared to 2016. The report shows 20 companies in particular stand to profit the most from the increase in nuclear threats.
You can read the report here: https://www.dontbankonthebomb.com/2018-report
The 2018 Don't Bank on the Bomb Report found:
- A total of USD 525 billion (an increase of USD 81 billion) was made available to the nuclear weapon producing companies, of which USD 110 billion came from just three companies: BlackRock, Vanguard and Capital Group
- 329 banks, insurance companies, pension funds and asset managers from 24 countries invest significantly in nuclear weapons
- The top 20 nuclear weapon producing companies stand to benefit the most from this increased nuclear threat, most of which have dedicated significant lobbying resources in Washington DC
- On a positive note, since the adoption of the UN Treaty on the Prohibition of Nuclear Weapons 30 companies have ceased investing in nuclear weapons.
- Two of the top five largest pension funds in the world are divesting from nuclear weapons.
"If you have been wondering who benefits from Donald Trump's threats of nuclear war, this Report has that answer," said ICAN Executive Director Beatrice Fihn. "These are the companies that stand to profit from indiscriminate mass murder of civilians. We grow less safe while they cash in on chaos by banking on armageddon."
"A new nuclear arms race has moved the Doomsday Clock closer to armageddon, but it has also started a new nuclear gold rush for those wanting to cash in on mass destruction," said Ms Fihn.
While this Report found a massive increase of investment in mass destruction, it also profiles 63 financial institutions with policies limiting or prohibiting investment in any type of nuclear weapon producer.
Susi Snyder, of PAX and co-author of the Report highlighted the positive findings: "The nuclear ban Treaty has created a movement towards divestment, reflected in the reduction in the number of companies investing in nuclear weapons, and an increase in financial institutions comprehensively prohibiting any investment. Investments are not neutral, these companies should be congratulated for standing on the side of humanity."
The International Campaign to Abolish Nuclear Weapons (ICAN) is a coalition of more than 400 non-governmental organisations in 95 countries. We are calling on governments to launch negotiations on a treaty prohibiting nuclear weapons, which would place them on the same legal footing as chemical and biological weapons and help pave the way to their complete elimination.
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"The Freedom to Read Act cements New Jersey's role on the forefront of preventing book bans and protecting the intellectual freedom of our educators and students," said Murphy. "Across the nation, we have seen attempts to suppress and censor the stories and experiences of others. I'm proud to amplify the voices of our past and present, as there is no better way for our children to prepare for the future than to read freely."
According to a statement from Murphy's office:
Under the law, boards of education and governing boards of public libraries are barred from excluding books because of the origin, background, or views of the material or of its authors. Further, boards of education and governing boards of public libraries are prevented from censoring library material based on a disagreement with a viewpoint, idea, or concept, or solely because an individual finds certain content offensive, unless they are restricting access to developmentally inappropriate material for certain age groups.
The legislation "also provides protections for library staff members against civil and criminal lawsuits related to complying with this law."
New Jersey Association of School Librarians President Karen Grant said that "the Freedom to Read Act recognizes the professionalism, honor, work ethics, and performance of school and public library staff" and "promotes libraries as trusted sources of information and recognizes the many roles that libraries play in students' lives."
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Rep. Adriano Espaillat (D-N.Y.) highlighted the difficulties of passing constitutional amendments while discussing Trump in a Monday appearance on CNN. The incoming chair of the Congressional Hispanic Caucus was born in the Dominican Republic and is the first formerly undocumented immigrant elected to Congress.
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Critics of ending birthright citizenship for the U.S.-born children of undocumented immigrants argue it would not only constitute bad policy, but also a betrayal of American values and, as one scholar put it to me, a "prelude" to mass deportation.
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