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australian red cross urges financial sector to act

8 November 2022

The Australian Red Cross has published an updated position statement on the Elimination of Nuclear Weapons. 

The statement encourages all States, including Australia, to sign and ratify the Treaty on the Prohibition of Nuclear Weapons and to take steps to de-escalate tensions and work towards nuclear disarmament.
The statement also recognises the role of the financial sector, recommending that:
The Australian private sector, particularly the financial and insurance services industry, consider the legal, financial and reputational risks associated with investing in nuclear weapons and develop policies and practices that respond to this risk, including adjusting financial capital flows away from companies connected with the production of nuclear weapons.
Some Australian financial institutions are ahead of the curve of nuclear weapons. Visit the Quit Nukes Honour Role to see which institutions have comprehensive policies and ethical practice on these illegal weapons of mass destruction.