SYDNEY (JTA) — 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 and Binui were excluded from the $23.5 billion New Zealand Superannuation Fund, the New Zealand Herald reported last week.
The $20 billion fund’s investments in the firms amounted to a total of less than $83,000. All three companies are engaged in the construction of settlements or construction of the West Bank security fence.
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 UN Security Council resolutions demanding the cessation and dismantling of the separation barrier, and the cessation of Israeli settlement activities in the Occupied Palestinian Territories.”
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
Add ToI as a Preferred Source on Google
