United Nations organizes, from 27 to 31 March and from 15 June to 7 July, a Conference on a treaty to prohibit nuclear weapons. Most of the nuclear-armed States are staying out of the negotiations, so the treaty won’t apply directly to them. However, the initiative provides an opportunity to move all those States who join the treaty to end investments by their public funds, banks and other financial institutions, in nuclear weapons corporations. As such, UNFOLD ZERO has joined with the Basel Peace Office and Parliamentarians for Nuclear Non-proliferation and Disarmament in submitting a Working paper to the UN prohibition treaty negotiations on prohibiting the financing of nuclear weapons production.
States negotiating the nuclear weapons prohibition treaty may be hesitant to prohibit financing of nuclear weapons, as it brings them into conflict with the financial interests of the nuclear-armed States. However, the working paper notes that there is already some experience of Western governments – including New Zealand, Norway and Switzerland – enacting prohibitions on nuclear-weapons-financing which impacted on corporations of US, France and the UK. While there may have been opposition to this from the nuclear-armed States, it did not impact negatively on the economies of the countries enacting the prohibitions.