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Scandanavian financial institutions drop Elbit due to BDS pressure

Author: Adri Nieuwhof, The Electronic Intifada, Published on: 19 February 2010

One of the largest Dutch pension funds [ABP] told The Electronic Intifada today that it is selling off its shares in Elbit. The wave of divestment follows campaigning by Palestinian organizations and international solidarity activists to divest from companies profiting from the Israeli occupation...the Palestinian Stop the Wall Campaign...convinc[ed] the Norwegian State Pension Fund to divest from Elbit Systems last September..."We do not wish to fund companies that so directly contribute to violations of international humanitarian law," [Norway's Minister of Finance] explained...Following th[at] decision...Kommunal Landspensjonkasse (KLP), one of the largest life insurance companies in Norway, also divested from Elbit....Danske Bank followed suit a week later...[and] was followed by PKA Ltd., one of the largest Danish pension funds, selling its shares in Elbit...Other major institutional investors in Scandinavia have also excluded Elbit from their portfolios due to ethical concerns. [also refers to Folksam, Africa-Israel (owned by Lev Leviev)]

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Related companies: Africa Israel Danske Bank Elbit Systems Folksam