Law assisted divestment

The “Don’t Buy into Occupation” (DBIO) coalition is a joint initiative between 25 Palestinian, regional and European organisations based in Belgium, France, Ireland, the Netherlands, Norway, Spain and the United Kingdom (UK). This coalition has recently released an extensive report investigating the financial relationships between business enterprises involved in the illegal Israeli settlement enterprise in the Occupied Palestinian Territory (OPT) and European Financial Institutions (FIs). It is their groundbreaking work that has laid bare the financial complicity of our financial institutions.

Israeli, European and international business enterprises operating with or providing services to Israeli settlements, play a critical role in facilitating the functioning and growth of settlements. However, despite its illegal nature, the associated wide range of international humanitarian law violations, severe adverse human rights impacts on the Palestinian population and the obstruction of the development of the Palestinian economy, European financial institutions continue to invest billions into the Israeli settlement enterprise.

The landmark ruling of the ICJ stated on 19 July 2024 that Israel's occupation of Gaza and the West Bank is unlawful and Israel's legislation amounts to racial segregation and apartheid. Furthermore, it specifically warns:

“... all States, international organizations, specialized agencies, investment corporations and all other institutions not to recognize, or cooperate with or assist in any manner in, any measures undertaken by Israel to exploit the resources of the occupied territories” p75-75. 

Just in the Netherlands, there are over 12 billion euros invested in the illegally occupied territories by financial institutions, thereby facilitating the maintenance and expansion of the settlements. In Europe, this is a staggering 180 billion euros...

So we are not only witnesses to what is going on, but most of us are made complicit against our knowledge and our will by the investments of our pension funds, our banks, our insurance companies, and our universities. As they all continue to invest and cooperate with the illegal occupied territories despite the clear condemnation by the ICJ (International Court of Justice).

The highest court in the world has spoken and confirmed what we could all witness with our own eyes. But change will not come without action. We have pleaded, we have reasoned, we have marched, we have petitioned, but enough is enough!

Care for Palestine is currently pursuing a strategy of Law Assisted Divestment: to force institutions through legal actions to obey international law. We are in the preparation phase where together with a legal team we will assess the most advantageous legal route to win a legal procedure against financial institutions in the Netherlands violating the ICJ ruling by their investment policy. Although the outcome is never certain, this has the potential to be a landmark procedure, serving as jurisprudence for other legal cases in other countries where the context is almost the same. 

This will by no means be an easy fight and there is no certainty that there will be a trial or that if we do go to court, the outcome will be favorable. But if we are, even partially successful, the impact could be extremely significant and enduring. 

This cannot be attempted without an experienced and committed legal team. Prakken d'Olivera Human Rights Lawyers, led by Liesbeth Zegveld, is willing to look into legal strategies to attempt this challenge. This is the same legal team that managed to win a legal procedure at the Dutch high court and force the Dutch government to stop delivering parts for F-35 fighter jets to Israel.