Worldwide investments in CLUSTER MUNITIONS

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463 Handelsbanken, written response to Profundo dated 12 February 2016. 464 Handelsbanken, “In accordance with our research method Handelsbanken Fonder has decided not to invest in the following companies”, available at handelsbanken.se/shb/inet/icentsv.nsf/vlookuppics/a_fonder_csr_exempel_ bortvalda_bolag_eng/$file/csr_exempel_pa_bolag_vi_valjer_bort_eng.pdf, last viewed 16 December 2015. 465 HSBC, “Who we are and what we do”, HSBC website (www.hsbc.com/about-hsbc/our-purpose?WT.ac=HGHQ_Ah_h1.2_On), viewed 9 October 2015. 466 HSBC, “Defence Equipment Sector Policy”, February 2010, p. 1, available at www.hsbc.com/~/media/hsbc-com/ citizenship/sustainability/pdf/100210defencepolicy.pdf, last viewed 9 October 2015. 467 HSBC, “Defence Equipment Sector Policy”, February 2010, p. 1, 2, available at www.hsbc.com/~/media/hsbc-com/ citizenship/sustainability/pdf/100210defencepolicy.pdf, last viewed 9 October 2015. 468 HSBC, “Responsible Investment”, HSBC website (www.global.assetmanagement.hsbc.com/about-us/governancestructure/responsible-investment), viewed 17 March 2016. 469 HSBC, “Defence Equipment Sector Policy”, February 2010, p. 2, available at www.hsbc.com/~/media/hsbc-com/ citizenship/sustainability/pdf/100210defencepolicy.pdf, last viewed 9 October 2015. 470 HSBC, written response to Profundo dated 1 December 2015. 471 HSBC, written response to FairFin dated 25 April 2012; HSBC, written response to Profundo dated 1 December 2015. 472 HSBC, written response to FairFin dated 5 April 2012. 473 HSBC, written response to Profundo dated 1 August 2014. 474 ING, “About Us – Profile”, available at www.ing.com/About-us/Profile-Fast-facts/Profile.htm, last viewed in May 2015; ING Group, ING Bank Fact Sheet Q1 2015, May 2015. 475 ING, “Standpunt van ING over de financiering van clustermunitie” (“ING’s Position on the financing of cluster munitions”), 11 March 2014, available at (www.ing.nl/de-ing/over-de-ing/verantwoord-ondernemen/wat-gebeurt-er-metuw-spaargeld/2014/03/clustermunitie.aspx, last viewed 9 October 2015; ING, written response to Profundo dated 27 May 2014; ING, “Environmental and Social Risk Framework”, available at www.ing.com/web/file?uuid=0dcf00a5-223a-4f6e- 8366-842a76c7cb9a&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=36269, last viewed 28 December 2015. 476 ING, written response to Profundo dated 28 July 2014. 477 ING, written response to IKV Pax Christi dated 12 December 2012; ING, written response to Profundo dated 25 September 2013. 478 ING, written response to Profundo dated 28 July 2014; ING, “Sustainability Report 2013”, 22 May 2014, p. 19, available at www.ing.com/ING-in-Society/Sustainability/Sustainability-report-2013.htm, last viewed 30 March 2016; ING, written response to Profundo dated 25 September 2013. 479 ING, “Standpunt van ING over de financiering van clustermunitie” (“Position of ING on financing cluster munitions”), 11 March 2014, ING website (www.ing.nl/de-ing/over-de-ing/verantwoord-ondernemen/wat-gebeurt-ermet-uw-spaargeld/clustermunitie.html), viewed 30 March 2016; ING, written response to Profundo dated 27 May 2014; ING, written response to Profundo dated 28 July 2014. 480 ING, written response to Profundo dated 27 May 2014. 250
481 Intesa Sanpaolo, “About Us”, Intesa Sanpaolo website (www.group.intesasanpaolo.com/scriptIsir0/si09/eng_index. jsp#/chi_siamo/eng_wp_chi_siamo.jsp), viewed 30 March 2016. 482 Intesa Sanpaolo, “Rules on the Granting of Credit in the Armament Sector”, July 2015, available at www.group.intesasanpaolo.com/scriptIsir0/si09/sostenibilita/eng_policy.jsp#/sostenibilita/eng_policy.jsp, last viewed 30 March 2016. 483 Intesa Sanpaolo, written response to Profundo dated 24 July 2014. 484 Intesa Sanpaolo, written response to Profundo dated 24 July 2014. 485 Intesa Sanpaolo, written response to Profundo dated 11 September 2013; Intesa Sanpaolo, written response to Profundo dated 24 July 2014; Intesa Sanpaolo, written response to Profundo dated 12 January 2016. 486 Intesa Sanpaolo, written response to FairFin dated 25 April 2012. 487 National Pensions Reserve Fund, “Ireland Strategic Investment Fund”, National Pensions Reserve Fund website (www.nprf.ie/ISIFIrelandInvestments/IrishStrategicInvestmentFundIrelandInvestments.html), viewed 12 February 2016. 488 Ireland Strategic Investment Fund, written repsonse to Profundo, dated 27 October 2015. 489 National Pensions Reserve Fund Commission, “Annual Report and Financial Statements 2014”, p. 20, available at www.nprf.ie/Publications/2015/AnnualReport2014.pdf, last viewed 12 February 2016; National Pensions Reserve Fund, written response to Profundo dated 8 July 2014. 490 National Pensions Reserve Fund, written response to Profundo dated 8 July 2014. 491 National Pensions Reserve Fund Commission, “Annual Report and Financial Statements 2014”, p. 20, available at www.nprf.ie/Publications/2015/AnnualReport2014.pdf, last viewed 12 February 2016. 492 KBC, “Group profile”, KBC website (www.kbc.com/MISC/D9e01/~E/~KBCCOM/~BZIZTPX/-BZIZTPN/BZJ07TR), viewed 12 October 2015. 493 KBC, “KBC has the most far-reaching policy on controversial weapons in the world”, 2007, available at multimediafiles.kbcgroup.eu/ng/published/PDF/KBCCOM/CSR/COM_MAR_wapenbeleid_E_0900dfde8014d839.pdf, last viewed 12 October 2015; KBC, written response to Profundo dated 27 May 2014. 494 KBC, “KBC has the most far-reaching policy on controversial weapons in the world”, 2007, available at multimediafiles.kbcgroup.eu/ng/published/PDF/KBCCOM/CSR/COM_MAR_wapenbeleid_E_0900dfde8014d839.pdf, last viewed 12 October 2015; KBC, written response to IKV Pax Christi dated 26 August 2013; KBC, written response to Profundo dated 27 May 2014. 495 KBC, “KBC blacklist controversial weapons”, April 2015, available at multimediafiles.kbcgroup.eu/ng/published/ KBCCOM/PDF/COM_BDV_pdf_Controversial_weapons.pdf and multimediafiles.kbcgroup.eu/ng/published/ KBCCOM/PDF/COM_BDV_pdf_UN_Global_Compact.pdf, last viewed 29 January 2016. 496 Länsförsäkringar, “About Länsförsäkringar AB”, Länsförsäkringar AB website (www.lansforsakringar.se/stockholm/om-oss/in-english/), viewed 4 December 2015. 497 Länsförsäkringar, “Globala investeringar enligt internationella konventioner” (“Global investments under international conventions”), Länsförsäkringar AB website (www.lansforsakringar.se/stockholm/om-oss/hallbarhet/ ansvarsfulla-investeringar/), viewed 4 December 2015. 498 Länsförsäkringar, written response to Profundo dated 10 November 2015. 251
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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
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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
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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
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 and 232: 115 AFP, “S’pore says no to clu
Page 233 and 234: 146 Fonds de Compensation, “Socia
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: 448 Ethias, “Resultaten 2014” (
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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Worldwide investments in CLUSTER MUNITIONS

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