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10 Sep 2017

AXA Group

AXA responds to allegations re ties to Israeli settlement construction and weapons manufacturing

...[W]e have duly taken note of your concern with regards to our investments in three Israeli banks. We were contacted in the past by some NGOs on the same topic, and had therefore reviewed it carefully, as we do when we receive questions about our investments. We would like to reassure you that AXA is not present and does not do business in the settlements, which are subject to an international United Nations resolution. The banks you are mentioning, which are under no legal restriction, were carefully examined by the teams involved in the decisions relative to our responsible investment policy. They concluded that these companies did not fall within the exclusion framework of our responsible investment policy, one of the most advanced and transparent in the financial sector. We hope to have reassured you on our investment policy.

Yours Faithfully,

AXA Group

Part of the following timelines

Israeli banks involved in financing illegal settlements in Palestine, Who Profits' report

OPT: French civil society groups call on AXA to end alleged complicity in human rights abuse through its investments in Israeli banks & weapons manufacturer

OPT: HRW calls on Israeli banks to comply with human rights responsibilities, cease activities in settlements