New Zealand Government Fund Divests From Israeli Firms Over Settlement Construction

[Purveyor]

A New Zealand government fund divested from three Israeli companies because of their involvement in the construction of West Bank settlements.

Elbit, Lev Leviev's Africa Israel and its construction subsidiary Danya Cebus, and Shikun & Binui were excluded from the 23.5 billion dollars New Zealand Superannuation Fund, the New Zealand Herald reported last week.

--CLIP

In a statement, Anne-Maree O'Connor, the fund's manager for responsible investment, said, "Findings by the United Nations that the separation barrier and settlement activities were illegal under international law were central to the fund's decision to exclude the companies. The fund also factored in votes by New Zealand for U.N. Security Council resolutions demanding the cessation and dismantling of the separation barrier, and the cessation of Israeli settlement activities in the Occupied Palestinian Territories."

MORE...

http://www.haaretz.com/news/diplomacy-defense/new-zealand-government-fund-divests-from-israeli-firms-over-settlement-construction-1.485197

[PDJane]

1. About damn time. I wish more would do this.

[teddy51]

2. I seriously think that the world is finally onto Netanyahu, and his slimy games.

[Violet_Crumble]

3. Kudos to New Zealand n/t

[shaayecanaan]

4. Its sort of like a pension fund...

NZ superannuation is a bit different to elsewhere - the government runs the scheme and takes contributions from people's taxes. Starting from 2009, the government has begun to draw down on the fund to pay retirement benefits to people over 65. However, the fund is entitled to invest in the private sector in order to try and maximise the use of its resources. Its a bit of a public-private hybrid model.

Its worth noting that New Zealand's current Prime Minister is of Jewish heritage, and New Zealand has had two previous Jewish Prime Ministers, including one observant, Orthodox Jewish PM.

[R. Daneel Olivaw]

5. I wouldn't have ever imagined that the Kiwis were anti-Semites!

It's getting harder and harder for Israel to keep up with the pretense that any land outside of its borders belongs to it or its colonialist settlers.

I only hope that for Israel's sake that more countries show the resolve and common sense of the Kiwis and explain that they will not tolerate this expansionism into Palestinian lands.

[azurnoir]

6. Good for New Zealand n/t