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EU Urged to Take Action Against Israeli Settlement Enterprise

A coalition of Palestinian, regional, and European organizations has called on the European Union (EU) to take a stronger stance against Israel’s illegal settlement enterprise in the occupied Palestinian territory (OPT).

Financial Ties Between Businesses and EU-Based FIs Revealed

The “Don’t Buy into Occupation” (DBIO) coalition released its second report, which highlights the financial relationships between business enterprises involved in the Israeli settlement enterprise and European Financial Institutions (FIs). The report identifies 50 businesses that have activities linked to Israeli settlements and have financial ties with one or more EU-based FIs.

Recommendations for the EU

The DBIO coalition is urging the EU to take immediate action by:

  • Publishing a joint EU business advisory on financial investments and activities linked to Israel’s settlement enterprise
  • Developing a proactive dissemination strategy towards business enterprises and corporate actors
  • Applying public procurement law in line with relevant obligations and responsibilities under international law, the UN Guiding Principles on Business and Human Rights (UNGPs), and the OECD Guidelines for Multinational Enterprises
  • Denying public contracts to companies involved in grave violations of international law
  • Adopting legislation to give effect to the principle of universal jurisdiction at a domestic level for the prosecution of corporate-related grave breaches of the Geneva Conventions and international crimes committed in the OPT

Local Authorities Must Also Take Action

Local authorities across Europe are also being urged to take action. In cases where a local municipality has its own pension funds, they should:

  • Undertake a review of investments in companies involved in the settlement enterprise
  • Begin the process of divestment from listed companies
  • Ensure that their pension funds implement adequate investment screening and due diligence procedures to comply with relevant obligations under international law

Positive Developments in Business and Human Rights

The report also highlights positive developments in the field of business and human rights, including ongoing negotiations on a potential EU-wide directive on non-financial reporting by large public-interest entities.

Contact

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Source

The “Don’t Buy into Occupation” (DBIO) coalition is a group of Palestinian, regional, and European organizations dedicated to promoting human rights and ending Israel’s occupation of the OPT. The DBIO coalition has released its second report on the financial relationships between business enterprises involved in Israeli settlements and EU-based FIs.