The report “At Great Cost: The companies building nuclear weapons and their financiers” (2025) analyses the contracts and activities of 24 companies heavily involved in the nuclear weapons industry.
Recent changes to the list:
No longer fully listed
- Rostec
Within the analyzed period, no investments or financial relations were identified for Rostec. For this reason, the company is now included in the watchlist.
New full profiles in this report
- Babcock International (United Kingdom)
Since 2023, companies involved in the production of nuclear armed submarines also fall within this report’s scope (see also the methodology section). Babcock International supports the life extension and modernization of UK nuclear-armed submarines and is subcontracted for work on U.S. nuclear-armed submarines, and has now been added to the list of companies fully profiled.
Watchlist
The 24 companies fully profiled in this report are heavily involved in the nuclear weapons industry through building key components for nuclear weapons or otherwise contributing to nuclear weapon development, manufacture, possession, stockpiling or use: acts that are all prohibited under the Treaty on the Prohibition of Nuclear Weapons (TPNW).
Still, there are other companies involved in activities prohibited by the TPNW, for example the building of facilities to enable any stationing, installation, or deployment of nuclear weapons on the national territory of other countries. Some of them are included in the watchlist. The watchlist also includes companies for which ties to the nuclear weapons enterprise have been identified, but who act as subcontractors or for whom sufficient details verifying their involvement are not available. For other companies, no investments or financing relations with private financial institutions were identified (this is often the case for companies that are privately-held), but information may still be of interest. For financial institutions and others seeking to implement comprehensive exclusions from any nuclear weapon associated company, the watchlist should, at a minimum, trigger additional due diligence.
Last updated: 2025-02-27 20:03:52