Worldwide investments in CLUSTER MUNITIONS

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131 Banca Etica, written response to Profundo dated 26 June 2014. 132 Banca Etica, written response to Profundo dated 10 June 2014. 133 La Financière Responsable, “Notre société” (“Our organisation”), La Financière Responsable website (http://la-financiere-responsable.fr/(S(2lffhoerlrvf25r35qix3f55))/laSociete.aspx), viewed 28 September 2015. 134 La Financière Responsable, “Méthodologie d’évaluation ESG des émetteurs” (“Methodology ESG assessment of issuers”), p. 1, available at www.la-financiere-responsable.fr/, last viewed 28 September 2015; La Financière Responsable, “Notre processus d’investissement” (“Our investment process”), available at http://www.lafinanciere-responsable.fr/(S(seou51554l324c45iemmz2nr))/processInvestment.aspx, last viewed 28 September 2015. 135 La Financière Responsable, “Méthodologie d’évaluation ESG des émetteurs” (“Methodology ESG assessment of issuers”), p. 1, available at www.la-financiere-responsable.fr/, last viewed 28 September 2015; Diamant Bleu Gestion, “FCP Diamant Bleu Responsable”, p. 1, available at www.diamant-bleu.com/ , last viewed 28 September 2015; La Financière Responsable, “Critères d’investissement ESG” (“Investment criteria ESG”), p. 1, available at www.la-financiere-responsable.fr/, last viewed 28 September 2015; La Financière Responsable, written response to Profundo dated 12 August 2014; La Financière Responsable, written response to PAX dated 26 September 2014. 136 La Financière Responsable, written response to Profundo dated 12 August 2014. 137 Triodos Bank, “Mission. Find out how we make money work for positive change”, Triodos Bank website (www.triodos.com/en/about-triodos-bank/who-we-are/mission-principles/), viewed 28 September 2015. 138 Triodos Bank, “Triodos Bank minimum standards for direct lending and investments”, p. 2, available at www.triodos.com/downloads/investment-management/research/minimum-standards.pdf, last viewed 28 September 2015; Triodos Bank, written response to Profundo dated 27 May 2014; Triodos Bank, written response to Profundo dated 26 June 2014. 139 Triodos Bank, “Triodos Bank minimum standards for direct lending and investments”, pp. 2-3, available at www.triodos.com/downloads/investment-management/research/minimum-standards.pdf, last viewed 28 September 2015. 140 Triodos Bank, “How we do what we do: Our approach to lending”, p. 2, available at www.triodos.co.uk/downloads/ our-approach-to-lending.pdf, last viewed 28 September 2015; Triodos Bank, “Triodos Bank minimum standards for direct lending and investments”, p. 3, available at www.triodos.com/downloads/investment-management/ research/minimum-standards.pdf, last viewed 28 September 2015; Triodos Bank, written response to Profundo dated 27 May 2014. 141 Triodos Bank “Sustainable investment universe”, Triodos Bank website (www.triodos.com/en/investmentmanagement/socially-responsible-investment/sustainable-investment-universe/recent-results/), viewed 28 September 2015; Triodos Bank, written response to Profundo dated 27 May 2014. 142 ASN Bank, written response to Profundo dated 23 Augusts 2013; ASN Bank, “Waar gaat uw geld naartoe?” (“Where does your money go to?”), ASN Bank website (www.asnbank.nl/index.asp?nid=11070), viewed 30 September 2014. 143 Definition taken from Investopedia (www.investopedia.com), viewed 30 March 2016. 144 Fonds de Compensation, “Presentation”, Fonds de Compensation website (www.fdc.lu/en/organisation-and-governance/), viewed 28 September 2015. 145 Fonds de Compensation, written response to Netwerk Vlaanderen dated 24 April 2012. 230
146 Fonds de Compensation, “Socially Responsible Investment”, Fonds de Compensation website (www.fdc.lu/en/strategie-dinvestissement/investissement-socialement-responsable/), viewed 28 September 2015. 147 Landmine & Cluster Munition Monitor, “Luxemburg”, last updated 9 July 2015, available at the-monitor.org/en-gb/reports/2015/luxembourg/cluster-munition-ban-policy.aspx, viewed 22 February 2016. 148 Fonds de Compensation, written response to Profundo dated 24 June 2014; Fonds de Compensation, written response to Profundo dated 26 June 2014; Fonds de Compensation, written response to Profundo dated 15 March 2016. 149 Fonds de Compensation, “Socially responsible investment”, Fonds de Compensation website (www.fdc.lu/en/ strategie-dinvestissement/investissement-socialement-responsable/), viewed 28 September 2015. 150 Fonds de Compensation, “FDC Exclusion List”, 15 November 2015, available at www.fdc.lu/fileadmin/file/fdc/Liste_d_exclusion20151115.pdf, last viewed 28 January 2016. 151 FRR, “FRR’s Missions”, FRR website (www.fondsdereserve.fr/en/missions/role), viewed 11 February 2016. 152 FRR, “Responsible Investment Strategy”, 2013, p. 9, available at www.fondsdereserve.fr/documents/SRI-Strategy-2013-2017.pdf, last viewed 12 February 2016. 153 FRR, written response to Profundo dated 8 January 2016. 154 FRR, “Annual Report 2014”, page 26, December 2014, available at www.fondsdereserve.fr/documents/FRR-RA2014-GB.pdf, last viewed 11 February 2016. 155 The Future Fund, “Facts at a glance”, The Future Fund website (www.futurefund.gov.au/), viewed 28 September 2015. 156 The Future Fund, “Annual Report 2014/2015”, p. 43, available at www.futurefund.gov.au/__data/assets/pdf_ file/0013/7015/2014-15_Annual_Report.pdf?mode=results&queries_field_query=cluster, last viewed 7 December 2015; The Future Fund, written response to FairFin dated 26 April 2012. 157 The Future Fund, “Annual Report 2014/2015”, p. 43, available at www.futurefund.gov.au/__data/assets/pdf_ file/0013/7015/2014-15_Annual_Report.pdf?mode=results&queries_field_query=cluster, last viewed 7 December 2015; The Future Fund, written response to Profundo dated 6 June 2014. 158 The Future Fund, “Entities excluded under the Board’s Ownership Rights and ESG Risk Management policy”, December 2015, available at www.futurefund.gov.au/__data/assets/pdf_file/0011/5105/2015_Dec_excluded_ companies_list_A425314.pdf, last viewed 17 February 2016. 159 Norwegian Ministry of Finance, “Government Pension Fund – Global (GPFG)”, Norwegian Ministry of Finance website (www.regjeringen.no/en/dep/fin/Selected-topics/the-government-pension-fund/government-pension-fund-globalgpfg.html?id=697027), viewed 30 September 2015. 160 Council on Ethics for the Government Pension Fund - Global, “Recommendation on Exclusion of Cluster Weapons from the Government Petroleum Fund”, 16 June 2005, Norwegian Ministry of Finance website (www.regjeringen.no/en/dep/fin/Selected-topics/The-Government-Pension-Fund/Ethical-Guidelines-for-the- Government-Pension-Fund---Global-/Recommendations-and-Letters-from-the-Advisory-Council-on-Ethics/ recommendation-on-exclusion-of-cluster-w.html?id=419583), viewed 30 September 2015. 161 Norwegian Ministry of Finance, “Guidelines for the observation and exclusion of companies from the Government Pension Fund – Global’s investment universe”, Norwegian Ministry of Finance website (www.regjeringen.no/globalassets/upload/fin/statens-pensjonsfond/guidelines-for-observation-and-exclusion-14- april-2015.pdf), viewed 30 September 2015. 231
Page 1 and 2:
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
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1.2.44 CITIC (China) CITIC (China)
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1.2.47 Comerica (United States) Com
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Hanwha Hanwha Hanwha Hanwha Corp Ha
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1.2.56 Donghai Securities (China) D
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Eaton Vance owns or manages bonds o
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1.2.65 Fifth Third Bancorp (United
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Shareholdings managed by Franklin R
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Goldman Sachs owns or manages share
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Hanwha Hanwha Hanwha Hanwha Corp Ha
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1.2.79 Huatai Securities (China) Hu
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1.2.82 Industrial and Commercial Ba
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Invesco owns or manages bonds of th
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1.2.86 KB Financial Group (South Ko
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KeyCorp has underwritten bond issua
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1.2.91 Kyobo AXA Investment Manager
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1.2.95 LIG Group (South Korea) LIG
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1.2.99 Manulife Financial (Canada)
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1.2.103 Midas International Asset M
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Mitsubishi UFJ Financial has underw
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1.2.108 National Pension Service (S
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1.2.113 Northern Trust (United Stat
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1.2.117 People’s Insurance Compan
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1.2.120 Piper Jaffray (United State
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1.2.123 Prudential (United Kingdom)
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Regions Financial has underwritten
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1.2.129 Samsung Group (South Korea)
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1.2.132 Shenwan Hongyuan Group (Chi
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1.2.135 Siemens (Germany) Siemens (
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1.2.139 State Street (United States
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1.2.142 Sun Life Financial (Canada)
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1.2.145 T. Rowe Price (United State
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1.2.150 US Bancorp (United States)
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1.2.152 Viking Global Investors (Un
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Wells Fargo has underwritten bond i
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1.2.157 WisdomTree Investments (Uni
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financial institutions listed are o
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This means that “any loan or fina
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In September 2010, the FDC’s Admi
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2.1.10 Swedish Pension Fund AP7 (Sw
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2.1.14 A.S.R. (the Netherlands) A.S
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DNB’s Group Policy Corporate Soci
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2.1.25 Pensioenfonds Horeca & Cater
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In 2007, PME strengthened its own g
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2.1.35 Stichting Pensioenfonds Huis
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2.2 Runners-up Financial Institutio
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2.2.1 ABN Amro (the Netherlands) AB
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Retail investment funds are beyond
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2.2.9 Belfius (Belgium) Belfius is
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Since 2011, all investment recommen
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Deutsche Bank’s Policy on Cluster
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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
Page 181 and 182: How to gain a place in the Hall of
Page 183 and 184: 2.2.36 Royal Bank of Scotland (Unit
Page 185 and 186: 2.2.40 Stichting Pensioenfonds APF
Page 187 and 188: How to gain a place in the Hall of
Page 189 and 190: The policy only covers project fina
Page 191 and 192: 2.3 Countries’ Best Practices 2.3
Page 193 and 194: “Also prohibited is the financing
Page 195 and 196: 2.3.2 Ireland BACKGROUND Ireland wa
Page 197 and 198: 2.3.3 Italy BACKGROUND Italy signed
Page 199 and 200: 2 Direct financing within the meani
Page 201 and 202: COMMENTARY What does the legislatio
Page 203 and 204: A Dutch financial institution in vi
Page 205 and 206: The legislation was unanimously ado
Page 207 and 208: 2.3.9 Spain BACKGROUND The Kingdom
Page 209 and 210: “Art. 35b Offences against the pr
Page 211 and 212: DISINVESTMENT - MINISTERIAL AND INT
Page 213 and 214: 2.3.19 Croatia The Republic of Croa
Page 215 and 216: On 1 June 2011, a Ministry of Forei
Page 217 and 218: 2.3.34 Rwanda The Republic of Rwand
Page 219 and 220: Conclusion and recommendations As t
Page 221 and 222: Funds following an index 789 A fund
Page 223 and 224: 16 Article 1: “General Obligation
Page 225 and 226: 34 Hanwha Corporation, “130 mm Mu
Page 227 and 228: 61 Federal Procurement Data System,
Page 229 and 230: 90 Textron Systems, “Textron Syst
Page 231: 115 AFP, “S’pore says no to clu
Page 235 and 236: 180 ABP, “Uitgesloten bedrijven e
Page 237 and 238: 216 Delta Lloyd Asset Management,
Page 239 and 240: 248 PenSam, written response to Pro
Page 241 and 242: 283 PME, “De 10 PME Principes voo
Page 243 and 244: 313 SPH, “Maatschappelijk Verantw
Page 245 and 246: 342 Achmea, “Uitsluitingsbeleid
Page 247 and 248: 374 La Banque Postale, “Registrat
Page 249 and 250: 411 Commerzbank, written response t
Page 251 and 252: 448 Ethias, “Resultaten 2014” (
Page 253 and 254: 481 Intesa Sanpaolo, “About Us”
Page 255 and 256: 514 New Zealand Superannuation Fund
Page 257 and 258: 548 PKA, “Vi Tager Ansvar” (“
Page 259 and 260: 583 Standard Chartered, “Defence
Page 261 and 262: 616 UniCredit Group, “UniCredit P
Page 263 and 264: 647 “Wet houdende regeling van ec
Page 265 and 266: 672 Landmine & Cluster Munition Mon
Page 267 and 268: 694 “Cluster Munitions Prohibitio
Page 269 and 270: 717 Curia Vista, “Interdiction du
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