Don’t Bank On The Bomb

September 2012

A report by Tim Wright, Australian director of the International Campaign to Abolish Nuclear Weapons, examines which banks, pension funds, insurance companies, asset managers and other financial institutions are financing production of nuclear weapons.


Those with the greatest investments include Aviva, Barclays, HSBC, Invesco, Lloyds Banking Group and Royal Bank of Scotland. Many from the UK are listed.


• Babcock International is involved in developing the new nuclear-armed submarines and maintaining the country’s existing fleet.


• BAE Systems is producing nuclear missiles for the French air force, and is also involved in developing Britain’s proposed new nuclear-armed submarines.


• Redhall Group carries out mechanical and electrical engineering activities at the Atomic Weapons Establishments at Aldermaston and Burghfield.


• Rolls-Royce is part of the joint project with France, and helps maintain the existing submarine fleet.


• Serco Group owns one third share in the consortium that runs AWE, and designs, manufactures and maintains nuclear warheads.

The foreword is written by Archbishop Desmond Tutu, who says “ Nuclear weapons are an obscenity. They are the very antithesis of humanity, of goodness in this world. What security do they help establish? What kind of world community are we actually seeking to build when nations possess and threaten to use arms that can wipe all of humankind off the globe in an instant?

The report is at