Célia em Movimento

an E-CHANGER volunteer for 7 years, celia worked until june 2007 for the 'gender sector' of the MST/BA - the rural landless workers movement in the northeastern brazilian state of bahia. from then until june 2010 she worked at the international secretariat of the world march of women in são paulo. although she is no longer a volunteer, she still works in brazil with the WMW and E-CHANGER and will therefore continue to share her professional and personal experiences... enjoy!

31 August 2009

"Banking on Bloodshed: UK high street banks' complicity in the arms trade"
War on Want: http://www.waronwant.org/campaigns/corporations-and-conflict/banking-funding-the-arms-trade/inform/16327-banking-on-bloodshed

Executive summary:
Conflict kills people, most of them civilians, and is also a major cause of poverty, which in turn leads to many more deaths. Yet not everyone is made poorer by war. The arms industry is responsible for producing the machines that kill, maim or destroy, and therefore profits from the destruction. The US has exported U$53 billion in arms in the past five years. In 2007 it had the dubious honour of topping the list of global exporters with a record U$19 in orders, the largest of which was a U$8.4 billion order from Saudi Arabia for 72 Eurofighter / Typhoon aircraft.

The arms trade undermines development around the world, contributing to the poverty and suffering of millions. Whilst the world gave U$104 billion in development aid in 2006, world military expenditure in the same year was U$1,158 billion. The UK is the third largest exporter of arms to developing countries. The UN Development Programme (UNDP) has named military expenditure by developing countries as a major barrier to achieving the Millennium Development Goals.

This report reveals, for the first time, that all of the UK's high street banks fund the arms industry through direct investment in shares, participation in loan syndicates and the provision of banking services. War on Want has drawn on databases that until now have only been seen by the financial sector and a select number of academics. Databases AMADEUS and ORBIS, which are published by Bureau van Dijk Electronic Publishing and Reuters DelScan, respectively, are subscriber-only databases and have never been used to establish the link between the banking sector and the arms trade. Evidence from AMADEUS reveals how much money UK high street banks hold in shares in UK arms companies. ORBIS exposes the same holdings in international arms companies, which Reuters DelScan charts the loans issued by high street banks to arms dealers.

The new evidence War on Want has uncovered shows that if you bank with Barclays, Halifax Bank of Scotland, HSBC, Lloyds TSB or Royal Bank of Scotland your money is supporting the arms trade. In fact, the only UK high street bank that does not finance the industry is the co-operative Bank.

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