Antinuclear

Largest Nordic fund company blacklists Boeing over nuclear arms

Nordea blacklists Boeing over nuclear arms Madison Marriage , Ft.com , 5 May 15 

Boeing has been blacklisted by the largest Nordic fund company over concerns that the civil and defence aerospace group is producing nuclear weapons.

Nordea Asset Management, which oversees €174bn of assets, told FTfm it added Boeing to its exclusion list in May due to the group’s involvement in producing components for replacement nuclear-armed Trident ballistic missile submarines in 2014.

The exclusion creates further problems for Boeing, which has already been blacklisted by the world’s largest sovereign wealth fund and a number Europe’s largest pension funds.

Sasja Beslik, head of corporate governance at Nordea, said: “Boeing is in the process of developing a new nuclear programme, [which means] we cannot engage with them. These companies will not change their business models, because [nuclear] is too lucrative.”…….

Nordea already excludes a handful of companies involved in manufacturing or supplying nuclear weapons, including UK groups BAE Systems andBabcock International and Areva of France………

The Norwegian Government Pension Fund, the world’s largest sovereign wealth fund, has blacklisted 10 companies involved in the production of nuclear weapons, including Boeing, since 2005.

PGGM, the second-largest Dutch pension fund manager, with €189bn of assets, has similarly excluded more than a dozen companies, including Boeing, over their involvement in nuclear arms since 2008………http://www.ft.com/intl/cms/s/0/ab38fee8-eff9-11e4-ab73-00144feab7de.html#axzz3ZJPY7ucS

May 6, 2015 - Posted by Christina Macpherson | Uncategorized