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HOME  > Past issues  > 2018 December 19 - 2019 January 8  > Resona HD: We won't give loans to N-arms firms
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2018 December 19 - 2019 January 8 TOP3 [PEACE]

Resona HD: We won't give loans to N-arms firms

January 8, 2019
Resona Holdings, Inc., has decided to not give loans to companies developing or manufacturing nuclear weapons. The decision was made in response to the call of international NGOs to financial institutions to stop funding N-arms makers.

Resona HD in November last year released a statement entitled, "initiatives for socially responsible investments and loans".

The Resona Group in the statement declares that it will not lend money to companies that develop, manufacture, or possess weapons of mass destruction such as nuclear, chemical, and biological weapons, and other kinds of inhumane weapons including antipersonnel mines and cluster bombs.

Regarding this policy, Kawasaki Akira of the International Campaign to Abolish Nuclear Weapons (ICAN) said, "Resona is the first Japanese lender that bans loans for the production of nuclear weapons. I applaud the bank's decision."

According to Kawasaki, some banks and pension funds in other countries including Holland and Norway have also made similar decisions.

On the other hand, Kawasaki pointed out that seven Japanese banking institutions still extend loans to nuclear weaponry makers. He said that Japanese companies are still unaware of the seriousness of funding inhumane weapons.

Kawasaki commented that under such an environment in Japan, it is highly significant that Resona made public its no-lending policy.
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