And now for some engaging dark humor from The Guardian:
“Funding defence companies should count as ethical investment because military spending “helps prevent war”, the UK’s defence secretary has said. 😂
Defence companies have long been excluded from so-called “environmental, social and governance” (ESG) ratings, limiting their access to investors who wish to spend their money sustainably.
In a written ministerial statement on Tuesday, Grant Shapps said the exclusion of the defence industry from ESG ratings was an “error”. 😅
He said:
Defence companies are being excluded from access to debt and equity capital, citing environmental, social and governance grounds.
The defence secretary added that this “threatens an important part of the economy” and “fails to recognise that the UK’s defence industry is essential to protecting our way of life”.
Defence companies have previously suggested ESG requirements have reduced interest from investors, although BAE Systems chief executive Charles Woodburn said earlier this year that this had become less of an issue since Russia’s invasion of Ukraine.
BAE’s share price has risen about 75% since the invasion, PA Media reports.” 🚀💥
