Source: Amnesty International Aotearoa New Zealand
Amnesty International Aotearoa New Zealand has announced it is moving its banking from ASB, in light of the bank’s ongoing investments in Motorola Solutions Inc. This is part of a campaign calling on ASB to divest from Motorola Solutions Inc. due to its complicity in maintaining and enabling illegal Israeli settlements. Not only are these settlements illegal under international law, they are associated with widespread human rights violations.
Amnesty International understands ASB KiwiSaver funds have over $14- million invested in Motorola Solutions Inc., which is currently one of the companies identified by the UN as being involved in activities that help maintain and enable illegal Israeli settlements.
Amnesty International Aotearoa New Zealand’s Movement Building and Advocacy Director Lisa Woods said, “We’ve raised this issue with ASB numerous times. We’ve presented our evidence of a range of severe human rights violations against Palestinians. We’ve given the bank time to review its investment and take appropriate action.
“Ethical and moral leadership across society is vital. In this regard, ASB has failed.”
In 2022, Amnesty International released the report Israel’s Apartheid Against Palestinians, documenting a decades-long system of oppression and domination that amounts to apartheid – a crime against humanity. Helping Israeli authorities to maintain this apartheid regime and expand its illegal settlements are the services and resources provided by different entities.
ASB’s decision to continue investing in Motorola Solutions Inc. sees the bank being part of a bigger picture where capital is invested in companies that are critical to maintaining Israel’s unlawful occupation of Palestine, the illegal settlements, and its apartheid regime.
ASB has specific international human rights obligations under the United Nations Guiding Principles on Business and Human Rights (UNGP). ASB is required to avoid causing or contributing to adverse human rights impacts through their own activities and seek to prevent or mitigate adverse human rights impacts that are directly linked to ASB’s operations, products or services, even if they have not contributed to those impacts (Principle 13).
“We cannot allow corporations to profit from the abuse of Palestinian human rights. Impunity cannot become the norm where we accept tick-box ethical investment policies. We believe that ASB, especially as a major Kiwisaver provider investing New Zealanders’ money, has a wider responsibility – moral and legal – to use its influence to promote respect for human rights,” said Woods.
Both globally and here in Aotearoa, financial institutions and companies are acknowledging that investments in companies that sustain Israel’s illegal settlements and human rights atrocities are unethical, and they are divesting.
“We must question ASB’s framework for ethical investment, where in one of the world’s biggest human rights crises the framework still allows ASB to invest. Especially given the UN list of companies identified as being involved in activities that help maintain and enable illegal Israeli settlements has just been updated and continues to include Motorola Solutions Inc.
“It’s right to keep asking, ‘How high has the ethical screening bar been set? Is it still fit for purpose?’ We encourage ASB to reconsider its investment policies and join a number of organisations and businesses prioritising ethical investing,” said Woods.
-We understand latest data indicate this figure is now $18 million.
