Belgium: Pax Christi Flanders celebrates KBC Bank decision to stop investing in nuclear weapons-related businesses
12/6/18 - (from ICAN) Last week, the KBC bank – one of the biggest in Belgium – announced a policy change with respect to investing in nuclear weapons, explicitly referring to the Ban Treaty. It will completely stop investing in nuclear weapons-related businesses, and this applies to all activities of the bank (not only providing credits), and without exceptions. I quote the relevant part of the press release:
“From now on, the Policy on Arms-Related Activities will also regard nuclear weapons as controversial weapons. Companies involved in the production or development of nuclear weapons will therefore be excluded from all KBC group activities. KBC is thus following the line of the United Nations Treaty on the Prohibition of Nuclear Weapons, which was endorsed by 122 countries on 7 June last year.”
The Belgian peace movement, including our member organisation Pax Christi Flanders, has been lobbying for this for years.