Danish Fund Manager Divests from Israel Amid Conflict Escalation
AkademikerPension, managing Danish teachers' and lecturers' pensions, has excluded Israeli state assets from its portfolio due to the conflict in Gaza and West Bank settlements' expansion. This follows similar decisions by other European funds. The move is based on concerns over Israel's adherence to international humanitarian principles.
- Country:
- Denmark
Danish fund manager AkademikerPension has announced its decision to exclude Israeli state assets, which includes government-controlled companies, from its investment portfolio. This decision comes amidst escalating tensions in Gaza and the ongoing expansion of Israeli settlements in the West Bank.
AkademikerPension, which oversees the pensions of Danish teachers and university lecturers with a fund size of 157 billion Danish crowns ($24.77 billion), emphasized that the current conflict does not align with international humanitarian principles. CEO Jens Munch Holst stated that the assessment pertained to Israel's ability to uphold human rights.
The decision mirrors moves by other European fund managers, such as Norway's sovereign wealth fund, against Israel. The backdrop to these decisions is widespread international condemnation of Israel's military actions in Gaza, where thousands of Palestinian civilians have been reportedly killed. Meanwhile, the United Nations' highest court has declared Israeli settlements illegal, a ruling Israel has rejected.
(With inputs from agencies.)
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