The NZ Superannuation Fund has divested from five Israeli banks due to their suspected involvement in illegal settlement construction. Michael Andrew reports.

The Guardians of New Zealand Superannuation, an autonomous crown entity and manager of the multi-billion NZ Super Fund, has divested from five Israeli banks due to their funding of settlement construction in the Occupied Palestinian Territories – otherwise known as the West Bank and Gaza Strip.

The NZ Super Fund said there was “credible evidence that the excluded companies provide project finance for the construction of Israeli settlements… which is an integral aspect of settlement construction.