“A big win but only the first step”: Student pressure leads to University Foundation divesting from Israeli bonds
After almost a year of consistent pressure from the student body, the Victoria University of Wellington (VUW) Foundation announced its divestment from all Israeli government bonds and shares of companies listed in Israel. The Foundation had previously reported having close to $50,000 invested in Israeli government bonds, which finance the apartheid state’s ongoing genocide in Gaza.
The news of divestment came through some weeks after Student Justice for Palestine Pōneke (SJPP) conducted an unannounced sit-in at the Hunter Building, where the Vice-Chancellor’s office is located. Two weeks prior to that action, the Kelburn campus was adorned with spray-painted messages by activists calling for the University to divest from genocide.
Pressure on the VUW leadership and the Foundation to disclose and divest, which has been ramping up over the last year, has come from multiple campus groups. These include SJPP, VUW Student Association (VUWSA), Ngāi Tauira, VicMuslims Club and Uni Workers for Palestine.
“This is a big, collective win; undoubtedly the work of numerous individuals and groups that have remained consistent in their activism for Palestine,” said Frank Mackenzie, an organiser at SJPP. “This is student power, pushing to hold these academic institutions and leaders to account, so that we are not complicit in these settler colonial, genocidal regimes.”
“And yet – divestment is the very least the University can do. It is only the first step. The Foundation and University leaders must now institutionalise a commitment to divesting from human rights violators. We can’t leave the door open for leadership to walk back this win. The only way to ensure that is to implement a full, financial and academic Boycott, Divest, Sanctions (BDS) policy against Israel. We also need ongoing proactive disclosure of all investments so the University and Foundation can be held accountable” .
Said Marcail Parkinson, President of VUWSA, “As the only student on the University’s Foundation board I am incredibly encouraged by the Foundation’s move to stop supporting genocide and divest from Israeli government bonds. This victory reflects the power of collective student action. This moment demonstrates the profound influence students can have in shaping the future of our institution. I am deeply proud of what we’ve achieved, and I hope students continue to push for change.”
An open letter by SJPP calling for divestment, BDS policy and scholarships for Palestinian students was signed by 1400 people. The University has not formally responded to the letter. (ref. https://our.actionstation.org.nz/petitions/vuw-divest-from-israel-and-support-palestine )
