{"id":100225,"date":"2018-11-14T20:45:34","date_gmt":"2018-11-15T01:45:34","guid":{"rendered":"https:\/\/www.gunsamerica.com\/digest\/?p=100225"},"modified":"2018-11-14T20:45:34","modified_gmt":"2023-08-31T21:53:58","slug":"billionaire-money-managers-pressure-gun-industry-principles","status":"publish","type":"post","link":"https:\/\/gunsamerica.com\/digest\/billionaire-money-managers-pressure-gun-industry-principles\/","title":{"rendered":"Billionaire Money Managers Pressure Gun Industry to Follow Five New Principles"},"content":{"rendered":"
\"Billionaire<\/a>

The CIO from CALSTRS pension fund calling on the firearms industry to be more responsible.\u00a0 (Photo: CNBC<\/em>)<\/p><\/div>\n

Billionaire money managers and pension funds are pressuring the firearms industry to adhere to new gun safety principles.<\/p>\n

The investors (see complete list below) who collectively manage more than $4.8 trillion (that\u2019s \u201cT\u201d as in Trillion<\/em>) released the five \u201cResponsible Civilian Firearms Industry Principles<\/a>\u201d on Wednesday, saying in a statement that they \u201care meant to be sensible and not intended to be prescriptive in nature.\u201d<\/p>\n

Sounds good until you get to the part of the letter which states that those gun companies who fail to \u201cpublicly demonstrate and publish their compliance with each of these principles\u201d will face apparent consequences as the signatories will \u201cconsider using all tools available to us as investors to mitigate these risks.\u201d<\/p>\n

Meaning what exactly? Probably that if you don\u2019t fall in line they’ll cut ties. We\u2019ve seen similar tactics recently in the banking industry. Citigroup<\/a> and Bank of America<\/a> have adopted anti-gun policies designed to put the hurt on gun owners and gun companies.<\/p>\n

BoA, for example, announced that it would stop lending money to AR manufacturers. Citigroup said it would no longer do business with companies that sell bump stocks and \u201chigh capacity\u201d magazines while also prohibiting its clients from selling firearms to any adult under the age of 21.<\/p>\n

SEE ALSO:\u00a0Bank of America: \u2018Full Stop\u2019 on Lending Money to AR Makers<\/a><\/h2>\n

We\u2019ve seen faith-based investors<\/a> pull similar stunts in 2018. The Interfaith Center on Corporate Responsibility, in conjunction with investment firms like BlackRock and Vanguard, bullied Smith & Wesson and Ruger this year into putting together reports on the companies\u2019 role in \u201cgun violence\u201d and what they’re doing to address the \u201crisks\u201d associated with their products.<\/p>\n

Responsible Civilian Firearms Industry Principles<\/h2>\n