TL;DR: Denmark’s AkademikerPension has excluded Israeli state assets from its portfolio, citing human rights violations in Gaza and illegal settlement expansion in the West Bank.
What Happened
- AkademikerPension, a major Danish pension fund managing 157 billion Danish crowns ($24.77 billion), announced it is excluding Israeli state assets and government-controlled companies from its investments.
- The fund cited Israel’s conduct in Gaza and the expansion of settlements in the West Bank as incompatible with international humanitarian principles.
Why It Matters
- CEO Jens Munch Holst told Reuters: "This comes as an assessment of the state of Israel's ability to uphold human rights."
- The fund is targeting firms linked to settlements and state entities, not all Israeli companies.
- The move follows similar divestments by Norway’s $2 trillion sovereign wealth fund and other Nordic pension funds.
Background
- The Gaza war began on October 7, 2023, when Hamas attacked Israel, killing around 1,200 people and taking 251 hostages, per Israeli sources.
- Since then, over 65,000 Palestinians have been killed in Gaza, according to local health authorities.
- The UN’s highest court has ruled Israel’s settlements in occupied territories illegal, a position rejected by the Israeli government.