Quakers Divest from Veolia and Hewlett Packard!
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The US Campaign is thrilled to announce that the Quaker Friends Fiduciary Corporation (FFC) has become the first U.S. national fund to divest from Hewlett-Packard (HP) and Veolia Environment following concerns expressed by Palestinian rights advocates about the companies' involvement in the Israeli occupation. At last count, FFC held investments of more than $250,000 in HP and more than $140,000 in Veolia.
Click here to thank FFC for divesting from HP and Veolia!
FFC handles investments for over 300 Quaker meetings, schools, organizations, trusts, and endowments around the U.S., with over $200 million in assets. According to the Executive Director of FFC, Hewlett Packard was dropped for providing information technology consulting services to the Israeli Navy, while Veolia Environment was removed due to "environmental and social concerns."
The decision followed advocacy from member group Palestine Israel Action Group of the Ann Arbor Friends Meeting (AAFM), which also successfully urged FFC to divest its $900,000 in Caterpillar shares in May. FFC has a "zero tolerance for weapons and weapons components" and said, "We are uncomfortable defending our position on this stock." Caterpillar produces and sells bulldozers to Israel that are weaponized and used to violate Palestinian rights and destroy Palestinian homes, schools, hospitals, olive groves, and lives.
The US Campaign commends AAFM and FFC, which made its recent decision, in line with FFC's principled commitment to investment in companies that "contribute positively to a peaceful, sustainable world."
Click here to show your support for FFC's principled decision to align its investments with its values.
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HP maintains a biometric ID system used in Israeli checkpoints for racial profiling; manages the Israeli Navy's IT infrastructure; and supplies the Israeli army with other equipment and services used to maintain its military occupation. Veolia is involved in a light rail linking illegal Israeli settlements with cities in Israel; it operates segregated bus lines through the occupied West Bank; and it operates a landfill and a waste water system that dumps Israeli waste on Palestinian land.
2012 will truly be remembered as a landmark year of victories in the global campaign to hold corporations accountable for profiting from Israel's violations of Palestinian human rights and international law:
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