Six Dutch banks are investing in companies which manufacture controversial weapons such as cluster bombs and which supply arms to dubious regimes.

Oxfam Novib, Amnesty International, FNV (the Dutch trade union federation) and the environmental organisation Milieudefensie, have reported these results in a survey they had carried out on the socially responsible behaviour of banks in the fields of, inter alia, human rights and the environment.

Two years ago, it was revealed that Dutch banks were investing in arms companies, and it appears that this is still going on. Research shows that ING makes the most investments in ‘controversial companies’ and uses its own money to do so.

Rabobank and Robeco invest in one arms company, although they are said to have introduced a more critical policy. Aegon, SNS Bank and SNS Regio Bank support arms companies via their investment funds. ABN Amro, DSB, Fortis, Friesland Bank and Triodos have no such investments, either from their own money or investment funds.

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