While we welcome today's announcement, it should be part of a wider human rights due diligence approach across all legislation and activities by government and Irish companies.
- 2 min read
- Published: 10th April 2024
Oxfam Ireland welcomes confirmation of divestment from investments in Occupied Palestinian Territory
Move by Irish Government should push others to act
Oxfam Ireland has today (April 5) welcomed the announcement from Minister for Finance Michael McGrath TD, that he has received confirmation from the National Treasury Management Agency (NTMA) of divestment by the Ireland Strategic Investment Fund (ISIF) from its global equity portfolio of certain companies who have certain activities in the Occupied Palestinian Territory.
Oxfam Ireland has been actively campaigning on this pressing issue and in a recent Submission to the Oireachtas, called on the Government to pull its investment from illegal Israeli settlements.
The divestment decision covers shareholdings valued at €2.95m in: Bank Hapoalim BM; Bank Leumi-le Israel BM; Israel Discount Bank; Mizrahi Tefahot Bank Ltd; First International Bank and Rami Levi CN
Stores.
Speaking of the announcement, Bríd Mc Grath, Oxfam Ireland’s Director of Public Affairs said:
"We would like to thank Minister Michael McGrath TD for his commitment. In the face of the horror we have seen unfolding on our television screens, this move by the Irish government could have the effect of influencing other governments who, via arms, investment or trade, enable Israel's illegal actions in the region. The news confirms that our pleas have not fallen on deaf ears, which is also good news for the wider Irish public who have displayed overwhelming support for the people of Palestine.
“In our submission to the Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach, we contended that any Irish investment in companies operating in the occupied territories means that we in Ireland are contributing to or benefiting from human rights abuses perpetrated on Palestinians. Today’s news sends the message that Ireland chooses not to be complicit with human rights abuses perpetrated on Palestinians. We refuse to legitimise regimes who murder and starve civilians.
"While we welcome today's announcement, it should be part of a wider human rights due diligence approach across all legislation and activities by government and Irish companies.
ENDS
For further information or to arrange interviews, please contact:
Jacqui Corcoran,
Communications & Campaigns Manager,
Oxfam Ireland
Jacqui.corcoran@oxfam.org
+353879123165
+353872932271
The international confederation of Oxfam is a group of independent non governmental organizations from Australia, Belgium, Canada, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Mexico, the Netherlands, New Zealand, Quebec, Spain, the UK and the US
