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UK banks, funds, financial watchdog urged to treat defense spending as ethical

By Sofia Gerace ( March 6, 2025, 15:26 GMT | Insight) -- UK banks and fund managers have been urged by a large group of ruling-party lawmakers to step up investment in the country's defense industry as it seeks to help secure a durable peace in Ukraine. The industry should consider defense spending as in line with environmental, social, and governance, ESG, requirements, they said. Lawmakers also wrote to the Financial Conduct Authority and trade body UK Finance about the role that the financial services industry can play.UK banks, fund managers and the financial markets watchdog have been urged by a large group of lawmakers from the governing Labour party to stop seeing defense spending as "unethical" and to better support Britain's military industry....

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