Danish and Norwegian pension and sovereign wealth funds continue to pull out many millions of euros of investments in Israeli banks and bank bonds due to increased concern about Israel’s human rights violations.
Pension Denmark, one of the biggest pension funds in Denmark (with 800,000 members), has now withdrawn all its investments from Israeli banks. According to The New Arab of 26th Feb 2024, ‘the fund confirmed that “a long time before the outbreak of the war on Gaza, we were focusing on the issue of suspicions that Israeli banks were giving loans to illegal settlements in the occupied West Bank,” according to one of the fund directors’ statements on local TV.
In fact, the pension fund began selling its stocks and shares which had been invested in Israeli banks at the start of the year. These amounted to 75 million Krone in value (nearly ten million euros).
Read more here about more Danish funds divestments from Israeli investments.
Norway’s sovereign wealth fund, which is the world’s largest such fund, completely divested from Israel Bonds in November based on the war against Gaza and its ethical investment guidelines. This divestment is worth nearly half a billion US dollars and another important impact of the BDS global movement.
Australia’s largest superannuation funds all have investments in Israeli companies and other international companies that have been listed by the UN Human Rights Council as being complicit by trading in Israel’s illegal settlements.
We are calling on all members of superannuation funds in Australia to send a message to their superfunds and take action to pressure them to divest from all companies which are supporting Israel’s apartheid, human rights abuses and breaches of international law.
The state of Israel continues to deny the right of self-determination to Palestinians and continues to dispossess them of their land. We aim to rectify this injustice in ways that will allow both Palestinians and Israelis to live in peace, security and equality, exercising self-determination as described by the United Nations Charter.
Principles
Recognise that the state of Israel’s ongoing occupation of the Palestinian territories and the expropriation of Palestinian land, water, airspace, and resources is illegal and must be opposed.
Recognise that the September 2022 Report of the United Nations Special Rapporteur found that “the occupation is not merely belligerent ,but is settlercolonial in nature and that Israel has prevented the realisation of Palestinian people’s right to self-determination, violating each component of that right, wilfully pursuing the “de-Palestinianisation” of the occupied territory.”
Support freedom and statehood for the Palestinian people.
Recognise that our ability to resolve the climate crisis is made more difficult by the ongoing violent conflict in the region and peace and stability are required for regional and equitable solutions to the climate crisis.
Call on all parties to comply with international law, relevant United Nations (UN) resolutions, the Universal Declaration of Human Rights and the Geneva Conventions, the International Convention on Civil and Political Rights, and the International Convention on Economic, Social and Cultural Rights and the Convention on the Suppression and Punishment of the Crime of Apartheid.
Recognise that the state of Israel, as the sole State power exercising control over all Palestinians, has the primary obligation to comply with such laws.
Recognise that Israel’s ongoing colonisation of Palestinian land is rendering a two- state solution unachievable.
Reject and condemn all forms of violence, especially against civilians, whether perpetrated by a state, organisations or individuals, while recognising the right of the Palestinian people to resist Israeli occupation in accordance with international law.
Oppose all forms of racism, religious or cultural intolerance and discrimination, in Australia and internationally
Demand the protection of human rights in the Palestinian territories and Israel
Recognise that the state of Israel is practising the crime of apartheid against Palestinians as noted by prominent human rights organisations – including Human Rights Watch and Amnesty International, as well as Palestinian and Israeli groups including al-Haq, Yesh Din and B’Tselem.
Recognise the Right of Return of Palestinian refugees and their descendants to their place of origin through a just and acceptable solution based on UN Resolution 194, or compensation for those who choose not to return. Additionally, support the establishment of international mechanisms guided by international law to facilitate this outcome.
Recognise that the rise of right-wing extremism in Israel is contributing to the intensification of repression, violence and a further worsening of the humanitarian situation for Palestinians.
In accordance with the Australian Greens Resolution on Boycotts, Divestments & Targeted Sanctions, support the tactics of boycotts, divestments and targeted sanctions that are strategic and human rights aligned on: a) Government representatives, institutions and state-affiliated entities of the state of Israel and the Israeli military and/or; b) Corporations, entities and organisations that profit from or are complicit in the violation of Palestinian human rights
Affirm that criticism of Israeli government policies and actions is not antisemitic, and therefore oppose the adoption and enforcement of the International Holocaust Remembrance Alliance definition of antisemitism which conflates criticism of the state of Israel with antisemitism. Recognise the rise of hateful and violent racism and bigotry including antisemitism and Islamophobia in Australia and commit to the development of thorough anti-racism policies.
Support and promote an open, human rights-aligned public debate about the state of Israel’s policies toward, and treatment of, Palestinian people.
Recognise the particular impact on children living under military occupation and exposed to conflict, in terms of their physical, psychosocial and social development needs.
Recognise that the state of Israel’s policy of conscription has involved young people in conflict and occupation which is counter to the goals of peace. Goals The Australian Greens will work for:
The end of the occupation of the Palestinian territories and the removal of the Separation Wall.
The removal of Israeli settlers and Israeli security and military forces from all the Palestinian territories occupied since 1967, including the land and sea blockade of Gaza.
The equitable allocation of all natural resources, including water.
Full equality before the law for every person, irrespective of ethnicity, religion, language, race, gender identity, class, disability, sexuality, or other social status.
The Australian government to join the international community in recognising the statehood of Palestinians and maintain the position of not recognising Jerusalem as the capital of Israel.
The support of progressive political and civil society movements within the state of Israel and in the Palestinian Territories
The Australian Government to recognise and uphold the jurisdiction of the International Criminal Court in relation to investigations into the actions of members of the government of the state of Israel, the Israeli Defence Force, Palestinian Authorities and armed groups to ensure individuals found to be responsible for crimes under international law are brought to justice. Additionally, the Australian Government to use all diplomatic and peaceful means to ensure all parties to any such investigation cooperate and comply fully with all requests, requirements and rulings of the Court.
The Australian Government to support initiatives in the United Nations, including the International Court of Justice, to hold the state of Israel, Palestinian Authorities and armed groups accountable for crimes under international law and other serious human rights violations; including but not limited to the expansion of illegal settlements, targeting of civilians, treatment of civilian populations within their jurisdictions and treatment of enemy combatants under their control.
Australia to promote human rights of Palestinians in its diplomatic relationships with those directly or indirectly involved in the conflict.
The involvement of progressive women’s organisations in establishing and building peace, in line with the principles set out in UN Security Council Resolution 1325 on Women, Peace and Security.
The Australian Government to increase support for NGOs promoting peace with justice for all Palestinians and Israelis.
The Australian Government to work for UN-supervised removal of all weapons of mass destruction, including nuclear weapons, from all states in the region.
In independent Australian foreign policy in relation to South West Asia and North Africa region, based on principles of peace, disarmament, ecology, self determination and human rights. As preliminary steps to the achievement of the goals, the Australian Greens call for:
The immediate and unconditional withdrawal of the Israeli military from all Palestinian cities, towns, refugee camps, surrounding areas and transport routes, allowing freedom of movement of Palestinians.
The immediate release of Palestinian political prisoners and all Palestinian child prisoners held in Israeli detention.
The end of dispossession and destruction of Palestinian homes by the authorities of the state of Israel and Israeli settlers.
Palestinian control of their borders with Jordan and Egypt.
The immediate freezing of all Israeli settlement activity in the Occupied Palestinian Territories, including expansion, and the simultaneous commencement of the repatriation of the Israeli settlers from the Palestinian territories.
The immediate dismantling of the separation wall.
The deployment of an international peacekeeping force endorsed by the United Nations to monitor the implementation of the above preliminaries by the parties; ensure that civilian populations are not exposed to the risk of hostile attack; and provide assistance to re-establish infrastructure.
An immediate end to refusal of, or hindrance to, medical aid to Palestinians and an end to the destruction of Palestinian infrastructure, agriculture and homes by authorities of the state of Israel and Israeli settlers
International support to establish a joint healing process, based upon the principles of a truth and reconciliation commission.
Australian, international and Israeli assistance programs in the Palestinian territories which together are sufficient to repair and rebuild Palestinian infrastructure, institutions, agriculture and the environment, and democratic civil society.
UN-endorsed measures, such as targeted sanctions, as needed and in conformity with Australian Greens policies.
An end to Australian taxation deductions for donations to states, institutions and organisations engaged in violations of international humanitarian law and human rights in Israel and Palestine, including settlement activity.
Given the continuing disregard by the state of Israel of calls to halt settlement expansion in the Occupied Palestinian Territories, the Australian Greens:
Call upon the Australian and State governments to halt military and security trade and cooperation with the state of Israel.
Reiterate our call for the immediate freezing of all Israeli settlement activity in the Occupied Palestinian Territories.
Call for the removal of existing Israeli settlers and Israeli security and military forces from the Occupied Palestinian Territories.
That the Australian Greens: • Acknowledge Australia’s history of cultural, consumer, sporting and labour movement boycotts as a legitimate, non- violent political expression in support of national liberation, health, human rights and environmental causes. • Support the application of targeted sanctions, boycotts and divestments by the Australian Government when they are strategic and human rights-aligned and one or more of the following criteria are met: • The grave repression of the human rights or democratic freedoms of a population by a government • The proliferation of weapons of mass destruction • Internal or international armed conflict • Genocide, ethnic cleansing, crimes against humanity or the perpetration of war crimes • State-sponsored mass violence • In the event of a military coup These criteria should serve to assist the deliberations of the Australian Greens and of the Australian Greens Party Room when considering calling for the application of targeted sanctions, boycotts or divestments against: • Government or state officials • State entities • State-affiliated or state-funded entities and/or; • Corporations, entities and organisations that profit from or are complicit in the violation of human rights. The Australian Greens reaffirm its support for the following calls made by the Australian Greens Party Room Foreign Affairs spokesperson for the following boycotts, divestments and targeted sanctions: • Targeted sanctions, boycotts and divestments on Myanmar’s military junta, government representatives, institutions and state-affiliated corporations for the 2021 February coup and treatment of the Rohingya population • Targeted sanctions, boycotts and divestments on Iranian government officials and the Islamic Revolutionary Guard Corps, government representatives, institutions and state-affiliated corporations including financial asset freezing and visa bans on key officials, the IRGC and morality police • Targeted sanctions, boycotts and divestments on Russian government representatives, institutions and state-affiliated corporations including boycott of the Russian oil and gas purchases.
BDS Australia
This website is maintained by BDS Australia, which is affiliated with the coalition of Palestinian organisations that leads and supports the BDS movement and by the Palestinian Campaign for Academic and Cultural Boycott of Israel (PACBI), a BNC member organisation.