A report released today shows that billions of dollars are still being invested in companies that produce cluster bombs, weapons banned by most of the world.

The report from IKV Pax Christi and FairFin, The “Worldwide Investments in Cluster Munitions, a shared responsibility,” shows that banks and other financial institutions have invested more than $43billion (USD) in companies making cluster bombs since 2009.

The report includes a "Hall of Shame" that lists the financial institutions investing in producers of cluster bombs.

Among the U.S.-based institutions in the Hall of Shame are AIG, Wells Fargo Bank, JP Morgan Chase and Goldman Sachs.

Reacting to the report, Laura Cheeseman, Director of the Cluster Munition Coalition, stated, “Most of the world has banned cluster bombs because of the severe and long-lasting impact they have, but even some countries that have joined the Convention are still allowing money to be invested in their production. The best way to prevent this is to explicitly legislate against it.”

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From “Worldwide Investments in Cluster Munitions, a shared responsibility” report:

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Cluster Munition Coalition: Stop funding cluster bomb producers

Global report shows progress made but billions still invested in companies producing weapons banned by most of the world