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  Swiss Referendum - Ban on Financing War Material Manufacturers
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Parents > Switzerland > Referenda > 2020 Referenda > (11/2020) Ban on Financing War Material Manufacturers
OfficeReferendum
Type Referendum
Filing Deadline 00, 0000 - 12:00pm Central
Polls Open November 29, 2020 - 12:00am Central
Polls Close November 29, 2020 - 09:00am Central
Term Start November 29, 2020 - 12:00pm
Term End November 01, 2999 - 12:00pm
ContributorIndyGeorgia
Last ModifiedIndyGeorgia January 29, 2021 09:49pm
Data Sources[Link]
Description
In common with most other countries, Switzerland is involved in the arms industry. Swiss companies produce weapons or parts for weapons, while Swiss investors finance war material manufacturers both here and abroad. In Switzerland, war material is subject to strict regulations, and a licence is required to manufacture and export it. Nuclear, biological and chemical weapons, cluster munitions and anti-personnel mines are banned: they may neither be manufactured nor traded. And it is also illegal to fund the production of such weapons.

The initiative committee takes the view that this ban on financing does not go far enough. It wants to make it illegal to finance any form of war material, including, for example, the manufacture of assault rifles, tanks and their components. The ban will not only cover granting loans to war material manufacturers but will also make it illegal to hold shares in such companies or to invest in funds that contain their shares. The ban would affect the Swiss National Bank, foundations, the state old age and invalidity pension schemes and other pension funds. In addition, Switzerland would be required to take action around the world to enforce the ban against banks and insurance companies. The economic effects would be felt not only by arms manufacturers, but also by their suppliers, which include many small and medium-sized businesses.
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