From 2019 to 2023, six of the world’s largest arms producers – Boeing, General Dynamics, Leonardo, Lockheed Martin, RTX, and Rolls-Royce – have sold weapons or weapon systems to Israel.
A new report published by a group of 19 civil society organizations and trade unions has exposed the largest European financial institutions investing billions of euros in international arms producers that sell weapons to Israel.
Titled The Companies Arming Israel and Their Financiers, the report “reveals European financial institutions have provided 36.1 billion EUR in loans and underwritings, and hold 26 billion EUR in shares and bonds in companies selling weapons to Israel,” the International Federation for Human Rights (FIDH) said in a statement on Thursday. The FIDH is one of the organizations involved in the exposé.
From 2019 to 2023, six of the world’s largest arms producers – Boeing, General Dynamics, Leonardo, Lockheed Martin, RTX, and Rolls-Royce – have sold weapons or weapon systems to Israel, the statement said.
It mentioned that French bank BNP Paribas is by far the largest finance provider to companies that have sold weapons to Israel, having provided 5.7 billion EUR in loans and underwritings since 2021.
Other large investors identified by the report include the banks Crédit Agricole, Deutsche Bank, Barclays and UBS, as well as the Norwegian government pension fund GFPG and the insurance company Allianz. It also mentioned banks such as the UK’s HSBC and Standard Chartered.
“According to international standards on business and human rights, financial institutions have a clear responsibility to ensure that they do not invest in companies that contribute to human rights violations”, said Gaëlle Dusepulchre, Deputy Director of FIDH’s Business, Human Rights & Environment Desk.
Hellbound and Down 