The impact of the arms industry
The arms industry is the industry that manufactures and sells weapons, including guns and military technology. We recognise arms are a necessary part of defence however, the sale and manufacture of arms can be problematic when sold to countries with repressive regimes, militia organisations and organised crime syndicates.
There are also several types of weapons that are designed and manufactured to cause maximum harm to people who are often civilians. These include nuclear weapons, cluster munitions, biological and chemical weapons and landmines.
Why does your choice of bank matter?
Many people don’t want to see the money they deposit in the bank used to make loans to support the manufacturing or sale of weapons.
Screening out investment in weapons is very common among ethical superannuation options and other investment funds.
At Bank Australia, we apply a similar screening process to our loans which means you can be confident your money isn’t being used to support the arms industry, including nuclear weapons or cluster munitions.
What change are we trying to create?
We recognise the importance of arms in many jobs and value the people who work in critical roles where arms are necessary such as our defence and police forces.
Our position is about providing Australians with a way to ensure their money is not supporting companies who make money from weapons. The more people that send this message to banks and other investments funds, the more likely we’ll be able to reduce the harm that this industry causes to people and communities around the world. By banking with us, you will be helping advocate for systemic change in the arms industry to reduce this harm.