Executive Summary 1

A. Scope and Purpose 3

B. Responsibility of Investors with Respect to Human Rights 3

  B.1. General 3

  B.2. Human Rights Due Diligence 6

  B.3 Heightened Human Rights Due Diligence 8

  B.4 Risks of investments in the arms sector 9

C. International Law and the Arms Sector 10

  C.1 Prohibited weapons 10

  C.2 Arms transfers 11

D. Investor Human Rights Assessment Issues 12

  D.1 Information availability 12

  D.2 Considerations about the role of the State 13

  D.3 Dual-use and other items 15

  D.4 New weapons, means or methods of warfare 15

  D.5 Assessment of the end-user and end-use 16

Conclusions  17

Recommendations for Investor Action 18