Worldwide investments in CLUSTER MUNITIONS

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1.2.130 Sealand Securities (China) Sealand Securities (China) has made an estimated US$67 million available to the companies on the red flag list since June 2012. Sealand Securities has underwritten bond issuances totalling approximately US$67 million for the companies since June 2012 (see table below). Underwriting of bond issuances by Sealand Securities Est. Holding company Issuer Use of proceeds Total value (US$ mln) participation of this bank Interest rate Issue date Maturity date (US$ mln) China Working Aerospace Science & CASC Capital, Project 644 54 4.950 20-3-2013 20-3-2023 Technology Finance China Working Aerospace Science & CASC Capital, Project 161 13 5.050 20-3-2013 20-3-2028 Technology Finance Source: Thomson Reuters Eikon, “Bond and share issue underwritings”, viewed March 2016; Bloomberg, “Bond and share issue underwritings”, viewed March 2016. 1.2.131 Shanghai Pudong Development Bank (China) Shanghai Pudong Development Bank (China) has made an estimated US$7 million available to the companies on the red flag list since June 2012. Shanghai Pudong Development Bank has underwritten bond issuances totalling approximately US$7 million for the companies since June 2012 (see table below). Holding company Underwriting of bond issuances by Shanghai Pudong Development Bank Est. Issuer Use of Total value participation Interest proceeds (US$ mln) of this bank rate Issue date (US$ mln) Maturity date Norinco China North Ind. Corp General 163 7 4.200 10-10-2014 10-11-2014 Source: Thomson Reuters Eikon, “Bond and share issue underwritings”, viewed March 2016; Bloomberg, “Bond and share issue underwritings”, viewed March 2016. 124
1.2.132 Shenwan Hongyuan Group (China) Shenwan Hongyuan Group (China) has made an estimated US$193 million available to the companies on the red flag list since June 2012. Shenwan Hongyuan Group has underwritten bond issuances totalling approximately US$193 million for the companies since June 2012 (see table below). Holding company China Aerospace Science & Industry China Aerospace Science & Industry China Aerospace Science & Industry China Aerospace Science & Technology China Aerospace Science & Technology China Aerospace Science & Technology China Aerospace Science & Technology Norinco Underwriting of bond issuances by Shenwan Hongyuan Group Est. Issuer Use of Total value participation Interest Maturity Issue date proceeds (US$ mln) of this bank rate date (US$ mln) CASIC General 471 20 4.290 18-7-2012 19-7-2017 CASIC CASIC CASC CASC CASC CASC China North Ind. Corp Working Capital 490 21 5.740 7-3-2014 7-3-2019 Working Capital 323 13 4.240 21-5-2015 21-5-2020 Working Capital, Project 644 54 4.950 20-3-2013 20-3-2023 Finance Working Capital, Project 644 54 4.950 20-3-2013 20-3-2023 Finance Working Capital, Project Finance 161 13 5.050 20-3-2013 20-3-2028 Working Capital, Project 161 13 5.050 20-3-2013 20-3-2028 Finance Unknown 141 5 3.700 25-11-2015 25-11-2020 Source: Thomson Reuters Eikon, “Bond and share issue underwritings”, viewed March 2016; Bloomberg, “Bond and share issue underwritings”, viewed March 2016. 125
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June 2016 update Worldwide investme
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PAX (formerly IKV Pax Christi, the
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1.2.24 BB&T (United States) 61 1.2.
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1.2.130 Sealand Securities (China)
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2.2.29 NIBC (the Netherlands) 177 2
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9
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in place, financial institutions ha
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In the research period, these 158 f
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Worthy of mention here are two fina
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Methodology: Questions and Answers
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Sources Of Information For The Hall
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Summary Tables Hall of Shame The fo
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Financial institution in the Hall o
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Financial institution in the Hall o
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Country of origin of financial inst
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PFA Pension Denmark X X X X X PGGM
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NIBC The Netherlands X X X Nordea S
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Introduction Investing in Cluster M
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arise from two arguments: the contr
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We define a cluster munitions produ
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1.1.3 Hanwha (South Korea) Hanwha C
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for surveillance and component test
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Textron argues that the weapon cont
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1.2 The Investments 1.2.0 Introduct
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• Results The following contains
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Norinco Norinco Norinco Norinco Chi
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1.2.8 AQR Capital Management (Unite
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1.2.13 BancPlus (United States) Ban
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Orbital ATK Orbital ATK Inc General
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Norinco Norinco Norinco Norinco Nor
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1.2.21 Bank of New York Mellon (Uni
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1.2.24 BB&T (United States) BB&T (U
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1.2.28 California First National Ba
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1.2.32 Central Pacific Financial Co
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1.2.35 China Development Bank (Chin
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1.2.38 China Investment Securities
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1.2.41 China Minsheng Banking (Chin
Page 75 and 76: 1.2.44 CITIC (China) CITIC (China)
Page 77 and 78: 1.2.47 Comerica (United States) Com
Page 79 and 80: Hanwha Hanwha Hanwha Hanwha Corp Ha
Page 81 and 82: 1.2.56 Donghai Securities (China) D
Page 83 and 84: Eaton Vance owns or manages bonds o
Page 85 and 86: 1.2.65 Fifth Third Bancorp (United
Page 87 and 88: Shareholdings managed by Franklin R
Page 89 and 90: Goldman Sachs owns or manages share
Page 91 and 92: Hanwha Hanwha Hanwha Hanwha Corp Ha
Page 93 and 94: 1.2.79 Huatai Securities (China) Hu
Page 95 and 96: 1.2.82 Industrial and Commercial Ba
Page 97 and 98: Invesco owns or manages bonds of th
Page 99 and 100: 1.2.86 KB Financial Group (South Ko
Page 101 and 102: KeyCorp has underwritten bond issua
Page 103 and 104: 1.2.91 Kyobo AXA Investment Manager
Page 105 and 106: 1.2.95 LIG Group (South Korea) LIG
Page 107 and 108: 1.2.99 Manulife Financial (Canada)
Page 109 and 110: 1.2.103 Midas International Asset M
Page 111 and 112: Mitsubishi UFJ Financial has underw
Page 113 and 114: 1.2.108 National Pension Service (S
Page 115 and 116: 1.2.113 Northern Trust (United Stat
Page 117 and 118: 1.2.117 People’s Insurance Compan
Page 119 and 120: 1.2.120 Piper Jaffray (United State
Page 121 and 122: 1.2.123 Prudential (United Kingdom)
Page 123 and 124: Regions Financial has underwritten
Page 125: 1.2.129 Samsung Group (South Korea)
Page 129 and 130: 1.2.135 Siemens (Germany) Siemens (
Page 131 and 132: 1.2.139 State Street (United States
Page 133 and 134: 1.2.142 Sun Life Financial (Canada)
Page 135 and 136: 1.2.145 T. Rowe Price (United State
Page 137 and 138: 1.2.150 US Bancorp (United States)
Page 139 and 140: 1.2.152 Viking Global Investors (Un
Page 141 and 142: Wells Fargo has underwritten bond i
Page 143 and 144: 1.2.157 WisdomTree Investments (Uni
Page 145 and 146: financial institutions listed are o
Page 147 and 148: This means that “any loan or fina
Page 149 and 150: In September 2010, the FDC’s Admi
Page 151 and 152: 2.1.10 Swedish Pension Fund AP7 (Sw
Page 153 and 154: 2.1.14 A.S.R. (the Netherlands) A.S
Page 155 and 156: DNB’s Group Policy Corporate Soci
Page 157 and 158: 2.1.25 Pensioenfonds Horeca & Cater
Page 159 and 160: In 2007, PME strengthened its own g
Page 161 and 162: 2.1.35 Stichting Pensioenfonds Huis
Page 163 and 164: 2.2 Runners-up Financial Institutio
Page 165 and 166: 2.2.1 ABN Amro (the Netherlands) AB
Page 167 and 168: Retail investment funds are beyond
Page 169 and 170: 2.2.9 Belfius (Belgium) Belfius is
Page 171 and 172: Since 2011, all investment recommen
Page 173 and 174: Deutsche Bank’s Policy on Cluster
Page 175 and 176: HSBC’s Defence Equipment Sector P
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2.2.24 KBC (Belgium) KBC Group is a
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How to gain a place in the Hall of
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2.2.36 Royal Bank of Scotland (Unit
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2.2.40 Stichting Pensioenfonds APF
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The policy only covers project fina
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2.3 Countries’ Best Practices 2.3
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“Also prohibited is the financing
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2.3.2 Ireland BACKGROUND Ireland wa
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2.3.3 Italy BACKGROUND Italy signed
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2 Direct financing within the meani
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COMMENTARY What does the legislatio
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A Dutch financial institution in vi
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The legislation was unanimously ado
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2.3.9 Spain BACKGROUND The Kingdom
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“Art. 35b Offences against the pr
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DISINVESTMENT - MINISTERIAL AND INT
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2.3.19 Croatia The Republic of Croa
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On 1 June 2011, a Ministry of Forei
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2.3.34 Rwanda The Republic of Rwand
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Conclusion and recommendations As t
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Funds following an index 789 A fund
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16 Article 1: “General Obligation
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34 Hanwha Corporation, “130 mm Mu
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61 Federal Procurement Data System,
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90 Textron Systems, “Textron Syst
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115 AFP, “S’pore says no to clu
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146 Fonds de Compensation, “Socia
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180 ABP, “Uitgesloten bedrijven e
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216 Delta Lloyd Asset Management,
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248 PenSam, written response to Pro
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283 PME, “De 10 PME Principes voo
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313 SPH, “Maatschappelijk Verantw
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342 Achmea, “Uitsluitingsbeleid
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374 La Banque Postale, “Registrat
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411 Commerzbank, written response t
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448 Ethias, “Resultaten 2014” (
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481 Intesa Sanpaolo, “About Us”
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514 New Zealand Superannuation Fund
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548 PKA, “Vi Tager Ansvar” (“
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583 Standard Chartered, “Defence
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616 UniCredit Group, “UniCredit P
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647 “Wet houdende regeling van ec
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672 Landmine & Cluster Munition Mon
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694 “Cluster Munitions Prohibitio
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717 Curia Vista, “Interdiction du
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