Dieser Internet-Auftritt kann nach dem Tod des Webmasters, Peter Strutynski, bis auf Weiteres nicht aktualisiert werden. Er steht jedoch weiterhin als Archiv mit Beiträgen aus den Jahren 1996 – 2015 zur Verfügung.
Anlageobjekt Streumunition
Deutsche Bank investiert in Rüstungsfirmen *
Ein lukratives Geschäft: Deutschlands größtes Finanzinstitut soll Beteiligungen an Unternehmen halten, die Streumunition produzieren.
Nach einer Studie der belgischen Nichtregierungsorganisation (NRO) Netwerk Vlaanderen unterhält die Deutsche Bank Geschäftsbeziehungen zu führenden Anbietern und Herstellern von Streumunition, darunter L3-Communincations, Lockheed Martin, Alliant Techsystem, Textron und Raytheon. Wie die deutschen NRO urgewald und Landmine.de am Montag (7. Juni) mitteilten, seien viele Investmentfonds der Deutsche Bank Tochter DWS an Produzenten von Streumunition beteiligt. »Wer DWS-Fonds erwirbt, muss damit rechnen, an Herstellern von Streumunition beteiligt zu sein«, kommentiert Thomas Küchenmeister, Leiter von Landmine.de.
Die Förderung von Streumunitionshersstellung und -handel ist in der Bundesrepublik nach Paragraf 18a des Kriegswaffenkontrollgesetzes verboten. Dazu gehört auch jede Art der finanziellen Unterstützung bzw. Beteiligung an der Produktion, so Küchenmeister. Die Bundestagsfraktion von Bündnis 90/Die Grünen prüft deshalb eine Strafanzeige gegen deutsche Konzerne und Banken, die in Hersteller dieser geächteten Munition investieren. Nicht verboten ist Streumunition dagegen in den USA. Die NATO setzte diese Munition ein, so zum Beispiel im Bombenkrieg gegen Serbien Ende der neunziger Jahre. Ein völkerrechtliches Verbot von Streumunition tritt im August in Kraft.
Nach Angaben von Handicap International, einer Organisation, die sich für ein Verbot von Landminen und Streubomben einsetzt, gibt es bis heute weltweit etwa 100 000 Opfer von Streumunition. 98 Prozent davon seien Zivilisten, 27 Prozent Kinder. »Jedes Investment in kontroverse Waffen untergräbt auch die Hilfsprojekte für die Opfer«, beklagt François De Keersmaeker, Geschäftsführer von Handicap International.
Gegenüber dem ARD-Magazin »Report Mainz«, das Anfang der Woche einen Beitrag zum Thema sendete, teilte die Deutsche Bank mit, dass sie keine Geschäfte in direktem Zusammenhang mit Waffen wie Personen-Landminen, Streubomben oder ABC-Waffen tätige.
* Aus: Neues Deutschland, 9. Juni 2010
(...) The Convention on Cluster Munitions (CCM) will enter into force on 1 August 2010. On that day, the
Convention will become binding international law for more than 100 countries worldwide. Although the
Convention on Cluster Munitions does not explicitly prohibit investments in cluster munitions, the
prohibition on assistance that is included in article 1c of the Convention3, according to the report
authors, should prevent states from investing in cluster munitions producers. Financing and investing
are active choices, based on a clear assessment of a company and its plans. Investing in a cluster
munitions producer therefore is a choice to support the production of weapons that cause
unacceptable harm.
As the updated report shows, there seems to be a double standard in the majority of the countries that have signed the CCM. Huge amounts are still being invested in producers of cluster munitions. From 1 August 2010, state parties to the Convention will be legally prohibited from producing cluster munitions and from assisting in the production of cluster munitions by any third party. However, banks and other financial institutions in or from many countries have been allowed to continue their investments in cluster munitions until now. This undermines the commitment more than 100 countries have made to ban cluster munitions when they signed the convention. Investment runs counter to the spirit of the CCM. But there is not only a legal argument to make here. Since 2007, the problems arising from the use of cluster munitions have been widely acknowledged. Thus, even before the CCM opened for signature, financial institutions should have been aware of the controversy around cluster munitions and should have started disinvesting from producers of the weapons.
The responsibility to ban cluster munitions is a shared responsibility. It requires courage, and it requires effort. An international humanitarian standard has been set, and we are only months away from the entry into force of the CCM. The time to act is now for signatory states to the CCM, for nonsignatory states and for financial institutions alike.
The Hall of Shame
In the updated report “Worldwide Investments in Cluster Munitions” 146 financial institutions are identified as investing in seven producers of cluster munitions since 1 May 2007. In the research period, these 146 financial institutions invested US $43 billion in the seven cluster munitions producers included in this report. They:
In October 2009, we identified 8 cluster munitions producers. Since then, one of these companies announced that it has discontinued the production of cluster munitions; we found no evidence to contradict this announcement. This updated report therefore examines the remaining seven producers.
Compared with October 2009, 42 financial institutions were taken out of our Hall of Shame, but 50 new financial institutions have been added. These changes are mainly due to the change of our research period8, or because the financial institutions dropped under or climbed above our research threshold for asset management.
Although the weapon has been stigmatized through widespread support from 104 countries for the Convention on Cluster Munitions and more individual financial institutions have disinvested from cluster munitions, generally there’s been no major shift in the financial sector’s investment behavior towards cluster munitions producers.
Since October 2009, none of the seven cluster munitions producers covered in this report has been hampered in its search for financial means. The following examples prove huge financial support (US$4.24 billion through investment banking and loans) for cluster munitions producers in the last eight months.
Top cluster munitions financiers When we look at which financial institutions provided the largest amount of money to the seven selected producers, we come to the following top 5, divided by kind of financial service:
[Bank of America, JP Morgan Chase, Goldman Sachs, Deutsche Bank and HSBC]
INVESTMENT BANKING SERVICES: Bank of America, JP Morgan Chase, Goldman Sachs, Deutsche Bank and HSBC provided the largest amount of investment banking services since May 2007. Compared to the October 2009 report, Merrill Lynch is no longer listed in this top 5, because the company has been taken over by Bank of America, which is now the largest provider of investment banking services listed in our report.
LOANS: Bank of America, Citigroup, Goldman Sachs, Calyon and Barclays provided the largest amount of loans since May 2007. Compared to the October 2009 report, JP Morgan Chase is no longer listed in this top 5, because their loans to cluster munitions producers ATK and Textron were signed more than three years prior to this update. Calyon, the corporate and investment banking arm of Crédit Agricole, is a newcomer in this top 5, because of its contribution of US$100 million to a credit facility to L-3 Communications in October 2009.
ASSET MANAGEMENT: State Street, Capital Group, BlackRock, Temasek Holdings and Vanguard Group provided the largest asset management services based on their portfolio by the winter of 2009-2010. State Street, Capital Group and Temasek Holdings are newcomers. Changes in this top 5 are mainly due to a change of place within the top ten financial institutions owning or managing shares of cluster munitions producers. The involvement of Temasek Holdings is solely due to its major holding of 50.31% of the shares of Singapore Technologies Engineering. Both State Street and Vanguard Group are involved in all 7 cluster munitions producers included in our report.
We call upon all 146 financial institutions in our Hall of Shame to develop policies that exclude all financial links with companies involved in producing cluster munitions.
Source: IKV Pax Christi (the Netherlands) and Netwerk Vlaanderen (Belgium): Worldwide investments in CLUSTER MUNITIONS - a shared responsibility. Summary and Key Findings April 2010, p. 2-5; www.netwerkvlaanderen.be
As the updated report shows, there seems to be a double standard in the majority of the countries that have signed the CCM. Huge amounts are still being invested in producers of cluster munitions. From 1 August 2010, state parties to the Convention will be legally prohibited from producing cluster munitions and from assisting in the production of cluster munitions by any third party. However, banks and other financial institutions in or from many countries have been allowed to continue their investments in cluster munitions until now. This undermines the commitment more than 100 countries have made to ban cluster munitions when they signed the convention. Investment runs counter to the spirit of the CCM. But there is not only a legal argument to make here. Since 2007, the problems arising from the use of cluster munitions have been widely acknowledged. Thus, even before the CCM opened for signature, financial institutions should have been aware of the controversy around cluster munitions and should have started disinvesting from producers of the weapons.
The responsibility to ban cluster munitions is a shared responsibility. It requires courage, and it requires effort. An international humanitarian standard has been set, and we are only months away from the entry into force of the CCM. The time to act is now for signatory states to the CCM, for nonsignatory states and for financial institutions alike.
The Hall of Shame
In the updated report “Worldwide Investments in Cluster Munitions” 146 financial institutions are identified as investing in seven producers of cluster munitions since 1 May 2007. In the research period, these 146 financial institutions invested US $43 billion in the seven cluster munitions producers included in this report. They:
- provided loans for a total of at least US$3,190.26 million;
- provided investment banking services worth a total of at least US$6,712.15 million; and
- owned or managed shares and bonds for at least US$33,116.1 million.
In October 2009, we identified 8 cluster munitions producers. Since then, one of these companies announced that it has discontinued the production of cluster munitions; we found no evidence to contradict this announcement. This updated report therefore examines the remaining seven producers.
Compared with October 2009, 42 financial institutions were taken out of our Hall of Shame, but 50 new financial institutions have been added. These changes are mainly due to the change of our research period8, or because the financial institutions dropped under or climbed above our research threshold for asset management.
Although the weapon has been stigmatized through widespread support from 104 countries for the Convention on Cluster Munitions and more individual financial institutions have disinvested from cluster munitions, generally there’s been no major shift in the financial sector’s investment behavior towards cluster munitions producers.
Since October 2009, none of the seven cluster munitions producers covered in this report has been hampered in its search for financial means. The following examples prove huge financial support (US$4.24 billion through investment banking and loans) for cluster munitions producers in the last eight months.
- In September 2009, L-3 Communications issued US$1 billion 10-year bonds. The proceeds were used for general corporate purposes. Twelve banks contributed to this issue.
- In September 2009, Textron issued US$600 million bonds, split between five-year and 10-year bonds. The proceeds were used for general corporate purposes. Eleven banks contributed to this issue.
- In October 2009, L-3 Communications renewed its US$1 billion three-year revolving credit facility and extended it to October 2012. Seventeen banks were involved in the banking syndicate offering this loan renewal to L-3 Communications.
- In October 2009, Poongsan issued Korean Won 50 billion (US$54.1 million) three-year bonds. The proceeds were used for general corporate purposes.
- In November 2009, Lockheed Martin issued US$1.5 billion bonds, split between 10-year and 30- year bonds. The proceeds were used for general corporate purposes. Twelve banks contributed to this issue.
- In February 2010, Hanwha Corp issued Korean Won 100 billion (US$86.1 million) three-year bonds. The proceeds were used for general corporate purposes. Tong Yang Securities underwrote the complete issue.
Top cluster munitions financiers When we look at which financial institutions provided the largest amount of money to the seven selected producers, we come to the following top 5, divided by kind of financial service:
[Bank of America, JP Morgan Chase, Goldman Sachs, Deutsche Bank and HSBC]
INVESTMENT BANKING SERVICES: Bank of America, JP Morgan Chase, Goldman Sachs, Deutsche Bank and HSBC provided the largest amount of investment banking services since May 2007. Compared to the October 2009 report, Merrill Lynch is no longer listed in this top 5, because the company has been taken over by Bank of America, which is now the largest provider of investment banking services listed in our report.
LOANS: Bank of America, Citigroup, Goldman Sachs, Calyon and Barclays provided the largest amount of loans since May 2007. Compared to the October 2009 report, JP Morgan Chase is no longer listed in this top 5, because their loans to cluster munitions producers ATK and Textron were signed more than three years prior to this update. Calyon, the corporate and investment banking arm of Crédit Agricole, is a newcomer in this top 5, because of its contribution of US$100 million to a credit facility to L-3 Communications in October 2009.
ASSET MANAGEMENT: State Street, Capital Group, BlackRock, Temasek Holdings and Vanguard Group provided the largest asset management services based on their portfolio by the winter of 2009-2010. State Street, Capital Group and Temasek Holdings are newcomers. Changes in this top 5 are mainly due to a change of place within the top ten financial institutions owning or managing shares of cluster munitions producers. The involvement of Temasek Holdings is solely due to its major holding of 50.31% of the shares of Singapore Technologies Engineering. Both State Street and Vanguard Group are involved in all 7 cluster munitions producers included in our report.
We call upon all 146 financial institutions in our Hall of Shame to develop policies that exclude all financial links with companies involved in producing cluster munitions.
Source: IKV Pax Christi (the Netherlands) and Netwerk Vlaanderen (Belgium): Worldwide investments in CLUSTER MUNITIONS - a shared responsibility. Summary and Key Findings April 2010, p. 2-5; www.netwerkvlaanderen.be
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