Skip to main content

800 European financial institutions bankrolling Israel’s illegal annexation, new research

Counterview Desk
“Don’t Buy into Occupation” (DBIO)—a coalition of 28 European and Palestinian organizations, including BankTrack—has released its 2024 report, exposing the extensive involvement of over 800 European financial institutions in companies aiding and abetting the illegal Israeli settlement enterprise in the Occupied Palestinian Territory. A BankTrack report:
***
The research reveals that between January 2021 and August 2024, 822 European banks, asset managers, insurance companies, and pension funds provided $211 billion in lending and underwriting and held $182 billion in shares and bonds in 58 companies involved in illegal settlement activities. 
These findings come amid an unprecedented escalation of Israeli atrocities. The Palestinians in Gaza face ongoing attacks that bear all the hallmarks of genocide, while annexation in the West Bank including settlement expansion, forced displacement and Israeli army and settler violence has dramatically intensified. In July 2024, the International Court of Justice issued a landmark Advisory Opinion declaring Israel's occupation wholly illegal and urging states to end trade and investment activities that sustain this unlawful situation. A subsequent UN resolution reaffirmed these obligations, calling on states to ensure that their nationals, companies, and entities under their jurisdiction do not engage in actions that recognize, aid, or assist Israel’s illegal presence in the Occupied Palestinian Territory.
The DBIO report highlights the largest European creditors, by volume of lending and underwriting, to companies involved in Israeli settlements, namely BNP Paribas, HSBC, Barclays, Deutsche Bank, and Société Générale. Major investors, by volume of shares and bonds, include the Norwegian Government Pension Fund Global, Crédit Agricole, Legal & General, Deutsche Bank, and Nordea.
Of the companies aiding the illegal settlement enterprise, the ones receiving the most from European financial institutions are: Coca-Cola, Booking Holdings, Volvo Group, Siemens, Cisco Systems, IBM, Caterpillar, Vinci, Motorola Solutions, Airbnb, CNH Industrial, Hewlett Packard Enterprise, Carlsberg, Heidelberg Materials, Expedia Group, Carrefour, Alstom, and Cemex.
“The ongoing genocide in Gaza and accelerating ethnic cleansing in the West Bank stem directly from Israel’s international impunity. Financial flows, business activities, and trade in energy, raw materials, and arms continue to facilitate the assault on the Palestinian people. Businesses have both a moral and legal obligation to cease any complicity in these crimes, and the clear data and findings presented in the report are designed to empower all groups in holding these entities accountable," said Inès Abdel Razek, Co-Director of the PIPD, one of the coalition members.  
"Divestments from companies heavily involved in Israeli colonization or military operations in Gaza are increasingly common in the financial sector. This demonstrates that banks are capable of taking responsibility by ensuring they do not contribute to violations of international law," emphasizes Nathalie Janne from CNCD-11.11.11, another coalition member.
The DBIO report calls on financial institutions to adopt heightened due diligence measures, using their leverage to ensure clients and investee companies comply with international law and divesting from those that fail to do so. It also calls on businesses involved in the Israeli settlement enterprise to withdraw from settlements and halt any contributions to their establishment, expansion, or maintenance.
European governments are called upon to take concrete actions, including prohibiting imports, marketing and sales by companies operating illegally in the Occupied Palestinian Territory in European markets, and banning trade with and economic support for illegal Israeli settlements. They are also called upon to halt the export, sale, or transfer of arms and surveillance technology to Israel.
---
Full report available at:  dontbuyintooccupation.org, Navigate the Data here

Comments

Post a Comment

NOTE: Hateful, abusive comments won't be published. -- Editor

TRENDING

The “Dr” debate masks a larger crisis in allied-health education

By Dr P K Gupta*  India’s allied-health professions have long operated in a fragmented landscape of universities, hospitals, State authorities and private institutions, each with its own nomenclature, curriculum and standards. The National Commission for Allied and Healthcare Professions Act, 2021 was meant to correct this by creating a unified national framework for education, professional regulation and institutional recognition. Few dispute the need for such oversight. The real question is whether standardisation is quietly becoming synonymous with longer courses, additional internships and new professional titles—changes that risk masking deeper gaps in clinical training, institutional capacity and affordability.
Post a Comment
»

Pilgrimage or pollution? The waste crisis of Indian faith

By Raj Kumar Sinha*  In today's times, there are certain issues that are constantly talked about and discussed, yet no visible impact seems to be made. Beyond water, soil, and pollution, one crisis that continues to be overlooked is waste. Like other life-threatening problems, waste too is gradually moving toward burying and obliterating us. After the Kanwar Yatra in Haridwar, approximately 8,000 tonnes of waste were left behind on the riverbanks, including bottles filled with urine. 
Post a Comment
»

Arrival of USS Lincoln: A ‘leisure trip’ to Thailand or a neo-colonial move to commodify women?

By Benyasiri Eimviriyapong   The arrival of the USS Abraham Lincoln (CVN-72) for a ‘leisure trip’ in Thailand before returning to its campaign of destruction against the people of West Asia demands immediate interrogation and opposition. For us Thai people, and those in sites of American plunder across the globe, this a rattling of the US’ cold war colonial chains on its most loyal lap dog, while conducting a war of aggression in Iran and the ongoing genocide in Palestine. In allowing the USS Lincoln to dock, the Thai ruling elites are once again facilitating a system of imperial violence that extends far beyond Southeast Asian borders, a system which in our case, is predicated on sexual violence and femicide.
2 comments
»