The Second Meeting of States Parties to the Treaty on the Prohibition of Nuclear Weapons met last week in New York. 94 countries participated in the meeting as state parties or observers, in this week-long assessment of the progress of this new treaty. 

The meeting concluded with a political declaration firmly stating that nuclear deterrence is a significant security problem requiring urgent attention by the international community, that more research on the impacts of nuclear weapons is needed, and that the harms caused by nuclear weapons use and testing require ongoing attention.

In looking at how to address these challenges, governments noted that several key stakeholder groups are necessary to move the issue forward,  including financial institutions. This is the first time the role of the financial community has been officially recognised by a nuclear weapons treaty meeting.

Non-governmental participants included representatives of financial institutions.  In fact, a statement, delivered by Marco Carlizzi, Chairman, Etica SGR on behalf of more than 90 investors, representing over $1 trillion in assets under management, demonstrated an undeniable connection to this existential issue.

Read the full statement

The statement encouraged states to work with the financial community to further strengthen the norms and objectives of the nuclear ban treaty, including by ending financing relationships with the nuclear arms industry. It builds on a statement delivered at the First Meeting of States Parties in Vienna in 2022.

As said by His Excellency, Mr. Lok Bahadur Thapa, Permanent Representative of Nepal to the United Nations at the conference “As guardians of the future, it is our duty to dismantle the menace of nuclear weapons and divert precious resources from armament towards common development aspirations including SDGs.”