EU Seeks $800B for Defence

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defence investment

Reuters

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World

Analysis-Europe's top money managers start to bring defence stocks in from the cold

Summary

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79% Informative

European asset managers are reconsidering their policies on investing in defence.

Under EU rules, funds badged as sustainable need to ensure investments 'Do No Significant Harm' Many have avoided the sector entirely, with Rolls Royce and Airbus judged off limits.

EU seeks around 800 billion euros ( $870 billion ) of investment to bolster defence after U.S. President Trump said Europe must take more responsibility for its own security.

ESG fund holdings rose to 0.5% from 0.4% a year earlier , the data showed. Barclays analysts this week said the ESG underweight in defence had fallen "markedly" since last year . "We will go along with a more positive stance (on defence), it’s inevitable if you consider the geopolitical situation," Legal & General's CIO Sonja Laud said. ($ 1 = 0.9228 euros) (Additional reporting by Sinead Cruise and Chandini Monnappa ; Editing by Tommy Reggiori Wilkes and Susan Fenton ).