MPs back ban on cluster bomb investment

Wednesday 09 December 2009

A majority of MPs have backed a motion which would ban Dutch financial institutions such as banks and pension funds from investing in companies which make cluster bombs.

Finance minister Wouter Bos opposed the move, saying it was up to individual firms to decide on their own investment policy, news agency ANP reported.

A recent report by peace organisation IKV Pax Christi shows that 140 financial institutions still invest in some eight cluster bomb manufacturers. Fortis Nederland, ING and Rabobank are 'heading in the right direction' and pension funds ABP and PGGM have already ruled out such investments, ANP says.

It is unclear from the newspaper coverage what the effect of Tuesday night's vote actually is. Last year the Netherlands signed a treaty agreeing to remove all forms of cluster bombs from its arsenal. Cluster bombs spread tiny bombs over a large area and have a very high civilian casualty rate

© DutchNews.nl

Comments have been closed for this article.