Eight German Banks Refuse to Invest in National Defense on "Ethical Grounds"
Eight German banks have declined to invest in Germany's defense sector, citing ethical concerns, according to local media reports.
"Investments in armaments are necessary but not ethically justifiable," states a declaration signed by GLS Bank, KD Bank, BiB Essen, Bank für Kirche und Caritas, DKM - Partner für Kirche und Caritas, Evangelische Bank, Steyler Ethik Bank, and PAX Bank.
While these are not major German banks, GLS Bank and KD Bank were recently recognized as the most sustainable banks in Germany by Stiftung Warentest. These institutions position themselves as adhering to religious values and the UN’s principles of sustainable development.