Cluster Munition Coalition (CMC) campaigners around the world took part in the Global Day of Action on June 16 to raise awareness against investment in cluster munitions. Those who took part called on governments and financial institutions to stop investing in companies that produce cluster munitions or their key components.
The CMC held a press conference to release the 2016 update of “Worldwide Investments in Cluster Munitions: A Shared Responsibility.” Follow these links to access the full report, a summary of the key findings and the televised press conference.
According to the report, despite the international ban on cluster munitions, 158 financial institutions invested in excess of US$28 billion in seven weapons producers between June 2012 and April 2016. The 158 financial institutions are from fourteen countries around the world. The majority of these are from countries that yet to join the 2008 Convention on Cluster Munitions, but 20 financial institutions that have invested in producers of cluster munition are from countries that have joined the Convention. Among the 20 countries are Canada, France, Germany, Japan, Spain, Switzerland, and the United Kingdom.
Canada became the 91st state party to the Convention on Cluster Munitions on March 16, 2015. Canada destroyed its stockpile ahead of schedule in June 2014, but domestic legislation still raises cause for concern among those who support the CMC.
“Canada’s national legislation is among the world’s weakest. It contains unacceptable loopholes allowing Canadian soldiers to assist allied armies with the use of cluster munitions. This is not actually authorized under the Convention,” explains Paul Hannon from Mines Action Canada.