Making nuclear weapons is big business. Research by ICAN demonstrates that the nine nuclear armed states spent US$72.9bn in 2019 to maintain their arsenals and build new nuclear weapons. That’s $138,000 per minute.
Research by Don’t Bank on the Bomb has revealed contracts between nuclear-armed states and private companies in France, India, Italy, the Netherlands, United Kingdom and the United States for the production, development and stockpiling of nuclear weapons. While the private sector involvement in the arsenals of Israel, Pakistan, North Korea and Russia is less transparent, there is increased information about China’s nuclear weapons associated industry.
The companies involved in nuclear weapons vary, sometimes from year to year, as contracts end or commence. This is why financial institutions should adopt comprehensive policies preventing investment in nuclear weapons-producing companies, rather than only screening out a list of companies.
Companies that produce airplanes and submarines that can carry nuclear weapons are not included, unless that company is involved in other aspects of nuclear weapons production.
Download issuer information for nuclear weapons companies, including ISIN, CUSIP, SEDOL and exchange code.
Updated October 2020.