What the ratings miss, in your inbox.
One concise weekly email with new evidence-backed company research. No account. No card. Unsubscribe any time.
Every Weapons Contractor in Our Database, Scored
No War, No Weapons has a 91% failure rate. Out of 2,440 companies with non-zero scores, 2,225 are negative. Only 215 are positive.
The worst scorers include names you would expect. And names you would not.
The Worst Scores
| Company | Ticker | Score | Sector |
|---|---|---|---|
| Sportsman's Warehouse | SPWH.US | -100 | Retail |
| Smith & Wesson | SWBI.US | -100 | Firearms |
| CACI International | CACI.US | -100 | Defence IT |
| Northrop Grumman | NOC.US | -90 | Aerospace/Defence |
| Schlumberger | SLB.US | -90 | Oil Services |
| Lockheed Martin | LMT.US | -70 | Aerospace/Defence |
| Rheinmetall | RHM.XETRA | -80 | Defence |
| GOOGL.US | -80 | Tech | |
| BlackRock | BLK.US | -80 | Finance |
| Goldman Sachs | GS.US | -80 | Finance |
| Oracle | ORCL.US | -80 | Tech |
| Palantir | PLTR.US | -80 | Tech |
| Leidos | LDOS.US | -80 | Defence IT |
| Bank of NY Mellon | BK.US | -80 | Finance |
| HSBC | HSBA.LSE | -80 | Finance |
Not Just Defence Companies
The traditional defence contractors -- Lockheed, Northrop, Rheinmetall -- are expected. What stands out is the rest.
Google at -80. Project Maven, the Pentagon AI contract, sparked employee protests in 2018. Google said it would not renew the contract. But Google Cloud continues to serve defence and intelligence customers, and the company holds active contracts with the Department of Defense.
BlackRock at -80. The world's largest asset manager is not a weapons company. But BlackRock is one of the largest shareholders in every major defence contractor through its index funds. It also holds significant positions in weapons manufacturers globally. Financing weapons is scored the same as making them.
Goldman Sachs at -80. Investment banking services for defence companies, military bond issuances, and advisory work for arms deals contribute to the score. Banks that underwrite weapons programmes carry the ethical exposure.
HSBC at -80. Similar to Goldman -- documented financing of weapons manufacturers and military-linked transactions.
The Pattern
Weapons scores are not confined to the companies that build missiles. They extend to the companies that fund them, the companies that provide their software, and the companies that manage their investments.
If your fund holds Google, BlackRock, or Goldman Sachs, it holds weapons exposure.
Search company ethics records.
Primary sources
- BK.US — BNY Mellon CEO Pay Ratio Analysis
- BLK.US — BlackRock's DEI Strategy and Workforce Diversity Goals
- CACI.US — Article from www.fda.gov
- GOOGL.US — Alphabet's 2023 Conflict Minerals Report
- GS.US — 1 Testimony of Steven H. Strongin Managing Director ...
- HSBA.LSE — Challenges in Achieving Net Zero Supply Chain Emissions
- LDOS.US — Leidos Holdings' DEI Initiatives and Workforce Inclusion Efforts
- LMT.US — DA 01-2100
- NOC.US — Amended Record of Decision - Northrop Grumman and Naval ...
- ORCL.US — Diversity and Inclusion Initiatives at Oracle
- PLTR.US — Palantir Tackles Economic Inequality with Foundry for Builders Program and Scholarships
- RHM.XETRA — Article from www.reuters.com
- SLB.US — Schlumberger's Conflict Minerals Policy
- SPWH.US — 60-DAY NOTICE OF VIOLATION
- SWBI.US — Article from www.sec.gov
- BK.US — BNY Mellon's Environmental Sustainability Initiatives