The British banking giant HSBC has divested from Elbit, one of Israel’s largest defence companies.
The bank reportedly mentioned human rights issues when discussing the move, claiming it “strongly supports observance of international human rights principles as they apply to business.”
The divestment came following a long-running campaign by pro-Palestinian activists.
However, HSBC appeared to deny it had acted in response to pressure from the boycott movement, adding it did “not take positions on political issues”.
In a statement posted on its website, the pro-BDS Palestine Solidarity Campaign (PSC) claimed “banking giant HSBC divests from Israeli arms manufacturer following pressure from human rights campaigners”.
Arsen Ostrovsky, an Israeli-based International Human Rights lawyer, wrote on Twitter: “Hi HSBC… I was just wondering is it only Elbit you are divesting from, or any other defence contractors around the world?
Hi @HSBC, I see you have decided to divest from Israeli defense contractor #Elbit, citing 'observance of int'l human rights' https://t.co/22MBD7bCjS
— Arsen Ostrovsky (@Ostrov_A) December 27, 2018
I was just wondering is it only Elbit you are divesting from, or any other defense contractors around the world? @HSBC_UK @HSBC_US pic.twitter.com/gFeqecE8s9
PSC claimed more than 24,000 people had written to HSBC with “concern over its investments in Elbit Systems”.
The move comes one month after holiday rental website Airbnb decided to stop listing properties in West Bank settlements.
