https://www.sustainalytics.com/esg-research/resource/investors-esg-blog/eu-esg-funds--exposure-to-defense-continues-to-increase#:~:text=EU funds that promote environmental%2C social%2C and,remain%2C on average%2C underweight in the sector.

https://www.rusi.org/explore-our-research/publications/insights-papers/are-esg-standards-scapegoat-stalling-defence-growth#:~:text=A 2024 Morgan Stanley report found that,bn (around £5.1 bn) by late 2024.