Turn a complex defence investment landscape into a clear, defensible investment approach.
Defence, dual-use technology, fiduciary duty and responsible investment are raising new questions for institutional investors, access practical guidance, investor perspectives and specialist expertise to develop clearer policies, strengthen due diligence and make informed investment decisions.
How are institutional investors approaching defence?
Responsible Defence Investment Investor Briefings 2026
The role of defence within institutional investment is evolving across markets. Our 2026 investor briefings bring together institutional investors and responsible investment practitioners to explore the questions shaping defence and dual-use investment today, from fiduciary duty and portfolio implications to stewardship, technology and geopolitics.
Explore perspectives from investors and experts across Europe, North America and Asia-Pacific, including key takeaways and practical insights from each discussion.
Europe (Responsible Defence Investment in Europe)
Fiduciary duty, ethics and the changing European investor context. Hear perspectives on how European institutional investors are approaching defence investment and the questions emerging around responsible investment, ethics and fiduciary duty.
North America (Investing in Defence in North America)
Fiduciary duty, portfolio implications and the questions facing North American institutional investors. Explore how investors are considering defence within portfolios and the implications for responsible investment and investment decision-making.
Asia-Pacific (Beyond Defence: The Asia-Pacific Perspective)
AI, dual-use technologies, geopolitics and their stewardship implications for investors. Explore how investors are considering the changing defence and technology landscape and what it means for stewardship and responsible investment.
Defence investment is becoming harder to navigate
Defence investment is becoming harder to navigateThe role of defence in institutional investment is changing. Geopolitical developments, increased government spending, technological advances and the growing importance of dual-use technologies are prompting investors to reconsider how defence-related companies and activities fit within their portfolios.
For investment teams, this creates a range of practical questions. How should defence and dual-use investments be considered within existing responsible investment policies? Where should traditional exclusions apply, and where might a different approach be appropriate? How should investors assess human rights considerations, end-use risks and exposure to controversial activities? And what does fiduciary duty mean as the investment landscape continues to evolve?
These questions can become particularly complex when defence companies operate across multiple markets and technologies, or when products have both civilian and military applications. Investment teams may also need to consider how their approach affects stewardship, engagement, manager selection, portfolio construction and communication with stakeholders.
There is no single approach that works for every institutional investor. The right framework will depend on your organisation's investment objectives, existing policies, portfolio, governance structure and approach to responsible investment. What matters is having a clear and informed process for evaluating these considerations and translating them into practical investment decisions.
“Investors do not need to become defence experts. But investment teams do need the knowledge to ask better questions, identify where deeper due diligence is required and make well-governed decisions.”
ADVISORY
Strategic Investor Advisory
Work directly with Anna-Stina Wiklund on investment policy, portfolio considerations, governance and the integration of defence and dual-use investments.
Feature here
Feature here
Feature here
ENGAGEMENT
Join the Investor Engagement Initiative
Join institutional investors engaging defence and dual-use companies on transparency, governance, human rights due diligence, end-use risks and emerging technologies.
Feature here
Feature here
Feature here
TRAINING
Defence Investing Masterclass
A 3-hour live online masterclass helping investment teams strengthen governance, due diligence and stewardship across defence and dual-use investments.
Feature here
Feature here
Feature here
Need help developing your organisation's approach to responsible defence investment?
Defence and dual-use investment can raise complex questions across investment policy, fiduciary duty, governance, stewardship and stakeholder expectations.
Whether you are reviewing an existing approach, assessing a specific exposure or considering how your policy should evolve, speak with us to discuss the issues, test your thinking and consider the right path forward for your organisation.
Anna-Stina Wiklund
Founder, Flora Advisory
Defence and Stewardship Programme Lead, Global Advisory Alliance
