Pro-Palestine groups across Aotearoa are pressuring ASB Bank to quit its Kiwisaver shares in a company linked to illegal Israeli settlements.
In July the International Court of Justice ruled Israel’s occupation of Palestinian territories, illegal, racial segregation and apartheid.
Activist group Justice for Palestine launched its“Don‘t Bank on Apartheid” campaign in October; its first target is ASB Bank due to its KiwiSaver investment in Motorola Solutions.
ASB has been owned by the Commonwealth Bank of Australia since 1989.
So far the campaign has found 1600 people prepared to switch banks, and the petition for ASB to quit those shares has over 5300 signatures.
Yesterday, the ASB Bank branch in Newmarket, Auckland briefly closed as two women handed out flyers on the pavement in front of it.
Motorola’s role
Poet and activist Teirangi Klever (Ngāti Kahungunu ki Wairoa) spoke to Te Ao Māori News about this week’s ‘ASB Divest or We Switch National Week of Action’, which runs until Sunday.
“Motorola Solutions is a company that is on the list of the UN’s list of companies that are directly involved in the oppression of Palestinians because it’s been helping out with telecommunications and military security, particularly at the checkpoints and at on the occupation wall, which are two of Israel’s biggest apartheid infrastructures.”
This week activists are organising protests at their local ASB branches across the country. Justice for Palestine has created a resource pack to print to hand out flyers, collect signatures for the petition and to speak to customers and staff about why the bank should divest its shares.
The activists are giving ASB until November 29 to divest from Motorola Solutions or they will swap KiwiSaver providers en masse as a demonstration. They chose the date as it is Palestinian Solidarity Day.
Klever said they were confident that the majority of New Zealanders supported the cause because a 2020 Survey from Responsible Investment New Zealand found 76 per cent of New Zealanders said they expect their KiwiSaver funds to be invested ethically.
She said they were already seeing a difference from divest campaigns. For instance, Barclays Bank had sold all its shares in Israeli arms manufacturer Elbit Systems. Barclays didn’t disclose why it divested but it followed a nearly year-long campaign from activist groups pressuring the bank.
‘People power’
The campaign is part of the broader global Boycott, Divestment, and Sanctions (BDS) movement, which has seen recent successes with divestments by NZ Super Fund, Simplicity KiwiSaver, Ireland’s sovereign investment fund, and French insurance giant AXA.
“The campaign we’re doing is demonstrating people power,” said Klever. “I want the government to listen, and I want the government to see what people power can really do and be on the right side of history and follow suit”.
The coalition government has been firm in its position on sanctions against North Korea and Russia due to breaches of international law and UN resolutions but the treatment for Palestine has been described by activists and politicians as inconsistent.
Te Ao Māori News asked the bank to clarify why it had not divested from this company, given the serious legal and ethical concerns surrounding its operations.
We also asked at what point, and under what conditions would the bank’s monitoring of the conflict lead to a decision to cease support for a company directly facilitating activities that contribute to violations of international law?
The bank supplied a statement, which did not address those questions.
ASB Bank said: “We are closely following and are deeply concerned by the ongoing conflict and humanitarian crisis in the Middle East. We acknowledge those who have shared their views on how we invest, and we appreciate that this is an important issue for many Kiwis.”
It also said it followed a responsible investment approach using environmental, social and governance considerations.
