Europe’s largest pension funds heavily invest in illegal Israeli settlements
Five of Europe’s largest pension funds have — against EU directives — invested up to €7.5 billion ($8.09 billion) in businesses linked to illegal Israeli settlements, according to investigative news team Danwatch.
In July, the EU released new guidelines that state that any Israeli entity “seeking funding from or cooperation with the EU will have to submit a declaration stating that the entity has no direct or indirect links to the West Bank, East Jerusalem or the Golan Heights.”
According to the Danwatch report, the Government Pension Fund of Norway, Dutch government pension fund ABP, Dutch pension fund PFZW, Danish pension plan ATP, and Swedish pension fund Alecta have a total of €7.5 billion invested in 36 Israeli and international publicly-traded companies, “most of which have long been under public scrutiny because of their activities in the occupied Palestinian territories.” The investments, linked to illegal Israeli settlements, reportedly do not comply with the guidelines, according to Danwatch’s documentation. Of the five, the Government Pension Fund of Norway (SPU) has the largest investment, which amounts to €5.2 billion ($5.6 billion).