Labour MPs Call for Defence Investments to Be Reclassified as Ethical

Over 100 Labour lawmakers urge UK financial institutions to revise ESG rules, enabling greater support for Ukraine and domestic defence capabilities.

An open letter signed by more than 100 Labour MPs and peers calls on banks and investors to treat defence investments as ethical to boost funding for the UK and Ukraine's military sectors.
The letter argues that current ESG investment policies wrongly classify defence spending as unethical, creating barriers to necessary military funding.
European nations, including the UK, Germany, and France, are increasing defence budgets following the US decision to suspend military aid to Ukraine under President Trump.
UK Prime Minister Keir Starmer has pledged to raise defence spending to 2.5% of GDP, while Labour leaders emphasize the importance of aligning ESG principles with Ukraine's defence needs.
Critics, including anti-arms trade campaigners, oppose the reclassification, arguing that defence manufacturers profit from global conflict and destruction.