From militarism, to environmental degradation to gentrification and the oppression of migrants - the banks finance the corporations responsible.
Barclays Bank finances the continued use of dirty technology, responsible for providing almost $6 billion in loans to coal related industries (including financing coal related projects for companies such as E-On and Alliant). Coal has been recognised as the dirtiest, least efficient fossil fuel, and stands to add considerably to greenhouse gas emissions.
Barclays invests in global oppression, and is the largest backer of the global arms trade with 7.3 billion in shares in companies such as Lockheed Martin, Raytheon and Thales. It ranks among the top ten largest investors in US arms companies, and helped to finance investment company VSS in its purchase of Clarion, the organisers of the DSEi arms fair.
Barclays is the principle banker for three arms companies; VT Group, Cobham and Meggitt and is a major investor in, and NYSE market maker for, ITT, the parent company of EDO MBM - a company who have been subjected to a sustained direct action campaign in Brighton.
Barclays invests in companies who sell weapons to Israel, which killed 1400 people, including 400 children during January 2009. Barclays has also given loans to companies producing cluster munitions and depleted uranium.
The arms trade and the military-industrial complex it supports are climate criminals responsible for 25% of air pollution. Scientists for Global Responsibility said in 2006 that the UK armed forces were responsible for emitting 5m tonnes of carbon dioxide.
The investors in these industries must be held to account for their actions.
For further action join DISARM DSEi on 8th September, 12 noon, City of London.
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