The most effective use of it is not to use it because it is there.

The comments led to a heated exchange, with an exasperated member of the audience asking if Corbyn would not even fire back if attacked.

“I would say no first use of the weapon [the nuclear one]. That has to be the basis of what we do,” the Labour leader said.

He then argued: “We’ve only got one planet, let’s get together when we live on it and above all let’s not destroy it … The most effective use of it is not to use it because it is there.” (The Guardian.)

Is "the weapon" an antecedent of "it" in The most effective use of it is not to use it because it is there?