Stop! the global war bank

Canada must not host or join the dsrb

Prime Minister Carney is currently vying for Canada to play a leadership role in a brand new international war bank, the DSRB, with Toronto poised to host the global headquarters. The proposed Defense, Security and Resilience Bank (DSRB) would provide a steady flow of public and private funds to weapons manufacturers to facilitate a rapid expansion of military production.

We, the undersigned, strongly oppose this new financial institution, the first of its kind, designed to fund and accelerate a global arms race and funnel public money directly to arms manufacturers. We say NO to Canada joining the DSRB and NO to Toronto hosting the global headquarters of this war bank.

The DSRB would redirect public money away from urgent social and environmental needs to the bloated revenues of weapons companies and their shareholders. By funneling public money to war instead of funding public services and our social safety net, this bank would prioritize short-term profits of corporations over the needs of our communities. This isn’t the agenda that Carney ran on or that Canadians voted for.

Financing war won’t bring us peace. The DSRB’s mandate – to fund the ever-increasing manufacture and procurement of weapons – is fundamentally at odds with hopes for a peaceful world. It’s undeniable that the world is becoming a less stable place and that major powers – including the US under President Trump – are showing new levels of disregard for diplomacy and international law. The solution to these failures of peace-building, however, does not lie in massively increasing our investment in weapons of war.

The DSRB would be able to sidestep regulations and democratic oversight. It would also be a way to bypass public pressure and divestment campaigns. DSRB leadership even goes so far as to pitch the bank as a solution to the “challenge” of Canadians prioritizing spending on healthcare, education and public infrastructure over defence. While the financial sector might see public interests as a challenge, elected representatives must stand up for the interests of their constituents. The last thing Canada needs is a new institution that not only facilitates a historic increase in weapons investment but also gives even more opportunities for arms dealers and the financial sector to profit from war and steer government policy.

This bank dedicated to weapons and war would all but guarantee a war-filled future and escalating climate crisis. We reject Canada’s commitment to profiteering from perpetual war in the guise of economic development. We refuse to let arms dealers prosper in our cities while people around the world suffer.

We reject the DSRB war bank. Not in Toronto, not in Canada, not on this planet.

Signed,