The West’s rush to supply weapons to war-torn Ukraine looks like a golden opportunity for defence companies to exit the ESG doghouse. However, the sector will largely remain a no-go investment zone, writes LJucca
, which won big government contracts for anti-tank weapons and other equipment, saw a similar rally and is now worth $7 billion.
, a global risk perceptions survey conducted before the conference, showed security concerns had replaced climate challenges as the top concern. Besides the situation in Ukraine, the growing antagonism between the United States and China was also palpable. U.S. Secretary of State Antony, who was also in Munich, warned China against aiding Russia in Ukraine, while top Chinese diplomat Wang Yi said the U.S.
Still, a broad relaxation of investment criteria would be a slippery slope. Distinguishing between weapons on the basis of their supposed offensive or defensive function would be very tricky. It would also put investors at odds with a U.N. sustainabilityto uphold peace and justice and to significantly “reduce all forms of violence and related death rates everywhere”.
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