'Multinational insurance giant AXA has boosted its investments in Israeli companies that make weapons to kill Palestinians and that finance the theft of their land for colonization.
AXA’s investments in arms manufacturer Elbit Systems and five major Israeli banks increased from $66 million in 2018 to over $91 million this year, according to a new report commissioned by global corporate watchdog SumOfUs.
The report says AXA’s investments “may expose the company to criminal prosecution for complicity in gross human rights violations, including war crimes under both French and International law.”
$91 million. Here is the amount invested by @AXA and its affiliate @AXAEquitable in the arms trade and the illegal Israeli occupation. To read our investigation findings, our report here: https://t.co/lk9w3wVyMY pic.twitter.com/vKUFo1JwMo
— SumOfUs (@SumOfUs) July 8, 2019
SumOfUs is urging France-based AXA to divest from these firms in order to comply with international human rights standards and French law.
The report, “AXA: Financing War Crimes,” is available in English and French.
Testing weapons on Palestinian civilians
Elbit Systems is Israel’s biggest arms maker. It produces internationally banned cluster munitions, white phosphorus bombs and most of the drones the Israeli military uses to attack Palestinian civilians.
Israel used cluster bombs with devastating effect against civilians during its 2006 invasion of Lebanon.
Elbit also makes equipment for Israel’s annexation and separation wall in the occupied West Bank, which was declared illegal by the International Court of Justice, and to enforce Israel’s blockade of the Gaza Strip.
“The Israeli army buys weapons from this company and tests them on Palestinian civilians to see how they kill, maim or injure; then, this company goes on to export its weapons under the label ‘battle tested’ or ‘combat proven,’” the report notes.'
Read more: Insurer AXA helps Israel kill Palestinians and steal their land