Chronicle of the participation in CaixaBank’s Meeting

The campaign ‘CaixaBank Without Weapons’ has once again participated in the General Shareholder’s Meeting of CaixaBank, which took place in Barcelona on Thursday 25 April.

The delegation of more than 45,000 shares has given us voice in front of the managers and shareholders of the bank, in order to denounce CaixaBank investments in weapons and other controversial business activities, like those that generate debt, have a social and environmental negative impact and violate human rights.

On the one hand , Jordi Calvo has denounced CaixaBank has become one of the first funders of the arms industry to the Spanish State , which shows a serious inconsistency with La Caixa’s Welfare Project, with the “The soul of La Caixa” and internal regulations, made public in its annual corporate social responsibility report 2010. Specifically , CaixaBank has shareholdings of 14 military companies.

Next, Jesus Carrión , spoke to publicize is that CaixaBank shareholder in several Catalan, Spanish and foreign companies that violate human rights systematically such as different UN Rapporteurs have reported .

On the other hand, Albert Sales emphasized the role this institution plays in the Spanish state debt. An example is the purchase of Banco de Valencia for 1 euro in late 2012, receiving 4,500 million euros of public assistance that were added to the 1,000 that the institution had received, before this bank was purchased. Sales CaixaBank urged to support the ILP for dation un payment. The mortgage debt of many families have become a major social problem and generates intolerable violence ways for a democratic and caring society.

#CAIXAarmada, trend in Barcelona

This campaign has launched a twitter #CAIXAarmada hashtag to publicize the controversial investment bank. Around 11 a.m. has become one of the trends (trendingtopic) in Barcelona. This is the second time that “CaixaBank Without Weapons” participates in CaixaBank Shareholders General Meeting.

For six years, Setem, the ODG and Centre Delàs d’Estudis per la Pau do shareholder activism, and take part in Banco Santander and BBVA shareholder meetings in order to pressure these financial institutions to cease their relationship with military industry and activities against the social and environmental benefits. All these interventions are made possible by thousands of shares provided by different stakeholders who support the campaign.