This position statement clarifies how Swedbank shall behave in relation to the defence equipment sector. The statement contains a definition of defence equipment and restrictions regarding financial services to the sector.
Swedbank Group recognizes the sensitivity of providing financial services to the defence equipment sector. This position statement sets out the terms of the bank’s provision of financial services to the sector. In developing this position statement we take into account the global nature of our business, where investments, credits and payments can have both local and global impact. We also take into consideration relevant international conventions, the views of our stakeholders and our commitment to respect human rights and support democratic development.
The range of activities within the defence equipment sector is wide and comprises governmental and commercial industry involved in manufacturing, modernizing, selling or purchasing weapons and/or material parts of weapons or services for either defensive or offensive purposes.
The restrictions in this position statement are based on the following definition of defence equipment: weapons, material parts of weapons and platforms for weaponry with no generally accepted non-military use and that can be clearly identified. This position statement does not apply to purely sporting or recreational weapons.