Friday, April 9, 2010

BDS Victory: Swedish Pension Funds Exclude Elbit

In another example of the growth of boycott, divestment, and sanctions (BDS) against Israeli occupation and apartheid worldwide, the Swedish pension fund has divested from Israeli apartheid wall-builder Elbit, a divestment decision that follows earlier divestment targeting Elbit by Norwegian and Danish funds:
"The First, Second, Third and Fourth National Pension Fund (AP1, AP2, AP3 and AP4) have decided to exclude the Israeli defense company Elbit Systems from their investments. The dialogue of the AP funds joint Ethical Council with Elbit Systems has not produced the desired results, according to a press release. The reason that Elbit Systems, are rejected is that the company delivered a monitoring system to parts of the barrier built on West Bank. In this way the company, "is connected to the violation of fundamental norms and conventions", according to Ethics Council." Despite repeated requests, Elbit Systems has refused to comment on the matter, said Ethics Council."
Omar Barghouti of the Palestinian Campaign for the Academic and Cultural Boycott of Israel comments:
"This fresh victory comes after the Norwegian pension fund had decided last year to divest from Elbit Systems as well. The largest Danish Bank, Danske Bank, has also done the same. Holding Israeli and international companies accountable for profiting from Israel's violations of international law and Palestinian rights has clearly become less taboo and may soon spread from the Nordic countries to others in the West."