Dive summary:
- Veolia Environmental is losing $140,000 in investments from the Quaker Friends Fiduciary Corporation after concerns expressed by Palestinian rights advocates about the company’s involvement in the Israeli occupation.
- Other groups to lose funding from the Quakers Socially Responsible Investment Fund include $250,000 from Hewlett-Packard based on the company’s contracts with the Israeli Navy and $900,000 from Caterpillar Inc. which profited from Israel’s demolition of Palestinian homes, property and land.
- Veolia remains a target for global boycott, divestment and sanctions from “its contracts with the Israeli government to build the Jerusalem Light Rail project, a tramway that will link West Jerusalem with illegal Israeli settlements in East Jerusalem and elsewhere in the occupied West Bank.”
From the article:
The Quaker Friends Fiduciary Corporation (FFC), which handles investments for more than 300 Quaker meetings, schools, organizations, trusts, and endowments around the US, announced that it has divested from Hewlett-Packard and Veolia Environment in response to a request by the Ann Arbor Friends’ Meeting (Quakers) group, which advocated for this divestment move. FFC, which holds more than $200 million in assets, is a not-for-profit socially responsible investment fund for the Religious Society of Friends.
The announcement comes just months after the FFC pulled $900,000 from its investment shares in Caterpillar Inc. over its continued profiting from Israel’s demolitions of Palestinian homes, property and land. ...
