Huge News! Last week HSBC Bank in the UK announced it will be divesting from Elbit Systems, Israel’s largest weapons company, citing international law and human rights concerns.
The exciting news comes on the heels of several victories for Palestinian rights in just the past couple of month — NYU ending its relationship with Tel Aviv university, Airbnb withdrawing from illegal Israeli settlements, and newly elected Congress members announcing support for BDS and that they will skip the trip to Israel with AIPAC.
Inspired by the UK’s victory and ready for lots more wins in 2019, we are calling on Wall Street-based Bank of NY Mellon to follow HSBC’s lead and divest from Elbit.
Bank of NY Mellon claims to be committed to socially responsible investment and the UN Sustainable Development goals, but holds over $6 million worth of shares in Elbit Systems. Elbit manufactures drones and surveillance technology, cannons for internationally banned cluster munitions, and white phosphorus, used on the people of Gaza in 2008-2009. Elbit also contracts with the U.S. Department of Homeland Security for surveillance along the U.S.-Mexico border.
Last month we visited BNY Mellon’s headquarters in lower Manhattan to hand deliver our letter to Chair of Corporate Social Responsibility Heidi DuBois outlining the many ways that Elbit is responsible for death, repression, and war crimes. Her response was that they take the issues we raise “very seriously” but that investments reflect fiduciary responsibilities to clients.
Last week's victory by UK campaigners shows that persistent organizing works. Let’s put the pressure on BNY Mellon to live up to the corporate social responsibility values they claim to hold. Join us in telling them to divest from Elbit.
Onward for justice,
Ariel, Ursula, and the CODEPINK team