Financial Ties to Israeli Settlements Spark Urgent Calls for Due Diligence

A study finds 822 European financial institutions linked with companies involved in Israeli settlements, prompting calls for increased due diligence. The Don't Buy into Occupation coalition urges European firms to reassess ties to the controversial area. The report highlights potential legal and ethical concerns regarding these business relationships.

A recent study reveals a growing number of European financial institutions maintain business ties with companies linked to Israeli settlements, prompting calls for heightened due diligence. This development raises eyebrows amid escalating settlement activities and the hope among settlers for U.S. support under President-elect Donald Trump.

The Don't Buy into Occupation coalition's report highlights 822 financial institutions connected with 58 firms involved in settlements, marking an increase from 776 in 2023. Authorities, including Andrew Preston from Norwegian People's Aid, stress the need for European firms to reassess their engagement with these enterprises, citing legal and ethical concerns.

Included in the report are major banks such as BNP Paribas and HSBC, along with firms like Caterpillar Inc., Booking.com, and Expedia. These companies have yet to comment on the findings. Notably, some enterprises have already divested from settlement-linked businesses, highlighting a trend towards reconsideration of these controversial ties.

(With inputs from agencies.)