The New Zealand Superannuation Fund has excluded three companies from its $20 billion investment portfolio on responsible investment grounds.
All three companies - Africa Israel investments and subsidiary Danya Cebus, Elbit Systems Ltd, and Shikun Binui - are involved in constructing Israeli settlements or a separation barrier in the Occupied Palestinian Territories, which have been deemed illegal under international law.
Norway’s finance ministry has excluded Shikun & Binui from the Government Pension Fund Global (GPFG), the largest pension fund in Europe, over its construction of illegal Israeli colonies in East Jerusalem. Analysts have described the company as Israel’s largest real estate business.
The Norwegian government has previously divested from Israeli military company Elbit, as well as Africa Israel Investments and Danya Cebus, two other