Responsible Defence Investment: Watch How European Investors Are Approaching Defence in Practice

+ How investors are reassessing defence exposure
+ Where fiduciary duty is changing
+ Engagement vs exclusion in practice
+ How the GRID framework is being applied

Our panellists: 

Aleksandra Palinska - Executive Director, Eurosif.
Anna-Stina Wiklund - Sustainable Investment Advisor, Global Advisory Alliance. Former senior sustainability leader within Nordic pension funds. Author of From Exclusion to Engagement.
Linda Sundberg - Head of Sustainable Investing, Church of Sweden.
Camille Bisconte De Saint Julien - Human Rights and Social Lead, La Banque Postale Asset Management (LBPAM).
Daniel Neale FICRS - Responsible Investment and Social Lead, Church Commissioners for England.

Moderator: Dominic Webb - Senior Reporter, Responsible Investor.

A growing body of work is supporting investors as they navigate this shift. The following resources provide useful perspectives on how defence investments are being assessed within responsible investment frameworks.

The first structured framework for applying responsible investment principles to defence sector companies. GRID builds on the 2025 concept note Principles for Responsible Defence Investment and marks the beginning of a broader consultation process with the institutional investor community. Developed for asset owners and asset managers seeking a principled, systematic approach to assessing defence-related holdings.

Download GRID → Guidance for Responsible Investment in Defence-related Companies (GRID)

Anna-Stina Wiklund's analysis of how the European institutional investor community is rethinking its approach to defence-related investments - examining the stewardship arguments, the regulatory context, and the practical implications for pension funds and asset managers operating across different European markets.

Read the article → From Exclusion to Engagement

Publised by Responsible Investment Association Australasia in 2023 - this toolkit offers essential frameworks and insights for companies and investors to support human rights in conflict-affected regions like Ukraine and Myanmar, and what they can do before, during and after conflict.

Download  → RIAA Investor Toolkit on Human Rights and Armed Conflict

An annual reference publication produced by France's Defence Industry Directorate (DID), which is part of the French Defence Procurement Agency (DGA). It compiles standardised company fact-sheets — drawn from publicly available sources — for a curated selection of major international defence companies across aerospace, naval, land systems, electronics, and related sectors. The 2026 edition features over 60 companies, including seven new entrants such as Anduril, Delair, Hemeria, and UkrOboronProm, alongside re-introduced companies like Rafael and Israel Aerospace Industries.

Download → 2026 Edition of the International Defence Companies Notebook

The page lists recent news articles covering the intersection of defence investment and responsible investing, including topics such as weapons exclusion policies, nuclear acceptability in portfolios, and ESG concerns around arms companies.

Read more here → Defence section of Responsible Investor

Eurosif's research and policy perspective on how European sustainable investment frameworks are evolving in response to changing geopolitical realities.

Download Comming Soon →

LBP AM Group’s Defence industry policy defines and sets out the operational principles of the Group’s responsible investment approach with regard to investment in the Defence industry.

Download here → LBPAM Policy on responsibleinvestment in the Defence industry