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EU Urged to Take Action Against Illegal Israeli Settlements

A coalition of Palestinian and European organizations has published a report highlighting the financial relationships between businesses involved in Israel’s illegal settlement enterprise and European financial institutions.

“Don’t Buy into Occupation” Coalition Calls for Action

The “Don’t Buy into Occupation” (DBIO) coalition is calling on the European Union to take immediate action against companies involved in human rights violations linked to Israeli settlements. The coalition is urging the EU to publish a joint business advisory on financial investments and activities linked to Israel’s settlement enterprise, as well as develop and adopt a proactive dissemination strategy.

Report Reveals Financial Ties

The report, titled “DBIO II,” identifies 50 businesses that are involved in activities linked to Israel’s illegal settlement enterprise in the occupied Palestinian territory (OPT) and have financial relationships with European financial institutions. The list includes companies that provide loans, underwriting services, and investments in shares and bonds to companies involved in the settlement enterprise.

Calls for Divestment and Leverage

The DBIO coalition is also urging local authorities across Europe to review their investments in companies involved in Israel’s illegal settlement enterprise and begin the process of divestment from companies listed by the UN Office of the High Commissioner for Human Rights (OHCHR) in the UN database. Furthermore, the coalition is calling on European financial institutions to use their leverage to influence actors involved in human rights violations and to prevent, mitigate, and address such harm.

The report highlights the legal risks and consequences that European financial institutions face by continuing to invest in companies involved in Israel’s illegal settlement enterprise. The DBIO coalition has been actively engaging with private businesses and financial institutions in Europe, as well as with governments, to raise awareness about the issue.

Recommendations

  • EU to publish a joint business advisory on financial investments and activities linked to Israel’s settlement enterprise
  • EU to develop and adopt a proactive dissemination strategy
  • Local authorities across Europe to review their investments in companies involved in Israel’s illegal settlement enterprise and begin the process of divestment from companies listed by the UN OHCHR in the UN database
  • European financial institutions to use their leverage to influence actors involved in human rights violations and to prevent, mitigate, and address such harm
  • EU to incorporate legislation that gives effect to the principle of universal jurisdiction at a domestic level
  • EU to include corporate-related human rights violations, grave breaches, and international crimes committed in the OPT, including those linked to Israel’s illegal settlement enterprise, in the implementation of the EU’s Global Human Rights Sanctions Regime

Contact

For more information or to schedule an interview with a representative from the DBIO coalition, please contact [insert contact information].