Belgian bank groups invest in companies that abuse human rights

This report is part of the campaign ‘My Money. Clear Conscience?' A campaign of Netwerk Vlaanderen, in cooperation with Forum voor Vredesactie, For Mother Earth and Vrede. 29th October 2003, Brussels, Belgium: Netwerk Vlaanderen, Forum voor Vredesactie, Vrede and For Mother Earth launched the campaign ‘My Money. Clear Conscience?'. A research report1 from Netwerk Vlaanderen revealed that the 5 biggest bank groups in Belgium had invested more than $1.5 billion in 11 arms producers, including the international giants such as Thales, Northrop Grumman, BAE Systems and Lockheed Martin, and Belgian companies like ammunition producer Mecar. The campaign made two demands on the banks: • Stop any investment in the arms industry for ethical reasons • Provide transparency on their weapons policy and investment in weapon producers to various stakeholders (customers, shareholders, society,...)

A report on the financial links between banks and the producers of controversial weapon systems. This report is part of the campaign ‘My Money. Clear Conscience?' A campaign of Netwerk Vlaanderen vzw, in cooperation with Forum voor Vredesactie, For Mother Earth and Vrede vzw