Dutch fund divests major investments over human rights violations in Palestine

AMSTERDAM, Oct. 08 (YPA) – The Dutch pension fund BME (Bedrijfstakpensioenfonds Metaal en Techniek), which holds $68 billion in assets, announced that it has divested $177 million from three major global companies.

The decision to sell the shares was made due to the companies’ involvement in activities linked to human rights violations in the occupied Palestinian territories.

The companies affected by the decision are Booking, Cemex, and Motorola.

This measure is a significant step that highlights the growing ethical and legal pressures faced by investment funds regarding their portfolios and their ties to international conflicts and human rights abuses.

A few days earlier, the largest Dutch pension fund, ABP, announced its divestment from the American heavy equipment manufacturer Caterpillar over concerns regarding the use of the company’s equipment by the Israeli occupation army in the Gaza Strip.

According to fund sources, ABP held a stake in Caterpillar valued at approximately €387 million (equivalent to $454 million) at the end of last March.

The Dutch pension fund PGGM previously decided to withdraw its funds from and boycott Israeli banks due to their opening of branches in and financing of settlements.

YPA