UK bank complicity in Israel’s crimes against the Palestinian people War on Want fights against the root causes of poverty and human rights violation, as part of the worldwide movement for global justice.

We do this by:

• working in partnership with grassroots social movements, trade unions and workers’ organisations to empower people to fight for their rights

• running hard-hitting popular campaigns against the root causes of poverty and human rights violation

• mobilising support and building alliances for political action in support of human rights, especially workers’ rights

• raising public awareness of the root causes of poverty, inequality and injustice, and empowering people to take action for change

Join us!

The success of our work relies on inspiring people to join the fight against poverty and human rights abuse. Get involved with our work:

Visit waronwant.org/donate Email [email protected] Call 0207 324 5040 Write to War on Want 44-48 Shepherdess Walk London N1 7JP

facebook.org/waronwant @waronwant Preface 01

2017 marks 50 years of Israel’s military War on Want’s 2008 report ‘Banking on occupation of the West Bank, Gaza Bloodshed’ exposed UK high street banks’ Strip and Golan Heights, and a decade complicity in the arms trade. At that time we since Israel cemented its blockade called for regulations to ensure that banks on the Gaza Strip. The impacts of the do not facilitate and profit from the war occupation and siege on Palestinians crimes and human rights abuses caused by have been devastating, an ever- the arms trade. intensifying system of human rights abuse and imposed poverty on millions of Nearly a decade later, many banks remain Palestinians. complicit, making our campaign that much more important. New forms of high-tech Israel’s militarised repression of the warfare make the arms trade not only more Palestinian people extends beyond the lucrative than ever, but also allow for companies scenes of checkpoints and bombings we that are not strictly producing weaponry to have unfortunately become accustomed to. evade much of the regulation and scrutiny. The Israeli military, security services and The result is a picture of overwhelming police maintain an intense regime of complicity of UK high street banks in Israel’s surveillance, physical violence on people, militarised repression of Palestinians. and destruction of Palestinian homes and properties in all of the areas under Israeli Banks are often thought of as unshakable control, including against Palestinian citizens giants, but they can be influenced by of Israel. complaints from the public, and especially when their reputations as ‘socially responsible’ This violence and destruction is made institutions are at stake. It’s up to the British possible by Israel’s trade in arms with dozens people to hold UK high street banks of countries, including the UK. On paper, the accountable for their complicity in Israel’s UK has strict rules and regulations about crimes against the Palestinian people. trading arms with regimes that systematically abuse human rights. In reality, legal loopholes In 2011, Palestinian civil society called on and a lack of scrutiny enable the regular people of conscience around the world to export of military technology and weaponry campaign for a military embargo on Israel in from the UK to repressive regimes around light of its systematic violations of international the world, making the UK government law. One key component of our larger Stop complicit in the abuses and war crimes Arming Israel campaign is to put pressure on committed by states such as Bahrain, Saudi the companies that facilitate the arms trade Arabia, and our focus for this report, Israel. with Israel. Starting with your local high street bank is the first step in breaking the chain of The deadly trade of arms is facilitated not complicity in Israel’s crimes, and towards a just only by the UK government; UK banks and and peaceful world. financial institutions participate in Israel’s militarised repression by holding shares in companies that sell military technology and weapons to Israel, and by providing and facilitating loans to companies producing Asad Rehman such military technology and weapons. Executive Director 02 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people 2. 1. Introduction Contents 3. 4. 5. 6. 7. Israel’s Apartheidregimeofcontrol UK banksfacilitateIsrael’scrimes Key companiesthatarmIsrael Israel’s militarisedrepression Take Action Appendix 04 03 30 28 07 16 14 1 Introduction 03

UK banks and financial institutions deadly arms sales. Far from being the removed examined in this report hold shares outsiders that they claim to be, UK high worth over £10.8 billion in companies street banks are profiting from the UK-Israel that sell weapons, military equipment arms trade. and technology to Israel and used to oppress Palestinians. Additionally, In June 2017, the Office of the United Nations some of them facilitate loans to High Commissioner for Human Rights these companies. (OHCHR) published guidance to the banking sector clarifying that banks and financial This report reveals business dealings between institutions have responsibilities under the some of the UK’s best known banks and UN Guiding Principles on Business and financial institutions, and 19 companies known Human Rights to “avoid causing or to supply the Israeli military and the Israeli contributing to adverse human rights impacts” government with weapons and technology and “to prevent or mitigate adverse human used in the militarised repression of rights impacts that are directly linked to their Palestinians, including war crimes. Our operations, products or services by their findings show that UK banks and other business relationships”.1 financial actors facilitate and profit from Israel’s militarism, making them UK government and corporate complicity in complicit in Israel’s crimes against the Israel’s war crimes and oppression must end. Palestinian people. War on Want is calling for banks to divest from and stop facilitating loans to companies Banks like HSBC, with high street branches that sell weapons and security services to across the UK, are key players in the UK- Israel. War on Want also reiterates our call Israel arms trade by providing financial for the UK government to implement a services to companies that allow for these two-way arms embargo on Israel. © Sebastian Meyer 04

© War on Want / Rich Wiles Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people 2 Israeli control, Israeli under living population total the of half nearly constitute Palestinians Israel’s control of regime Apartheid of Apartheid. definition (UN) Nations United the meets people Palestinian the against government Israeli by the instituted discrimination of system this that evidence overwhelming is residence and freedom of movement. There There movement. of freedom and residence family life, employment, education, health, of housing, life including aspect every affecting systematic and institutionalised discrimination from suffer territory) Palestinian occupied the in and Israel (inside control Israeli The 6.4 million living Palestinians under direct life. of aspect every almost in differently treated are Palestinians and Israelis Jewish practice, in and 3 2 but under Israeli law law Israeli under but

compared to 13.6% to citizens. compared Jewish of 2014, in line poverty the below lived Israel of citizens Palestinian the of half Over occupation. All aspects of their lives are are lives their of aspects All occupation. military Israeli under rights human basic their denied are Strip, Gaza and Bank West the in 4.9 million control, Israeli direct under living Palestinians of majority The citizens. its than rather people Jewish the to as accountable itself defines which astate in citizens second-class as treated are they vote, to right the as such rights, some enjoy formally they while and Israel, of citizens are Palestinians 1.5 million Some disenfranchisement and high levels of poverty. of levels high and disenfranchisement severe of picture overall an in resulting Israel, of citizens Palestinian against discrimination institutionalise laws Israeli 50 than More Israel’s illegalApartheidWall 4 6

5

Israel’s Apartheid regime of control 05

Apartheid

Apartheid is the Afrikaans word for Israel carries out various acts that ‘apartness’, originally used to describe the are prohibited by the Apartheid Convention system of racial discrimination that existed in and Rome Statute including: South Africa until 1994.The term apartheid is •• Forcible transfer of Palestinians not only a reference to South Africa’s former to make way for illegal Israeli settlements. regime; it is used in international law to describe a category of rule defined in the UN •• Preventing Palestinians from returning to International Convention on the Suppression their homes and lands. and Punishment of the Crime of Apartheid •• Systematic and severe deprivation of (1973), to which more than 100 states are a fundamental human rights of Palestinians party. The definition was refined in Article 7 based on their identity. of the Rome Statute of the International Criminal Court (2002). •• Denying Palestinians their right to freedom of movement and residence. The Rome Statute defines the Crime of •• Murder, torture, unlawful imprisonment Apartheid as: “inhumane acts...committed in and other severe deprivation of physical the context of an institutionalised regime of liberty, especially of Palestinians living systematic oppression and domination by one in Gaza. racial group over any other racial group or groups and committed with the intention of •• Persecution of Palestinians because maintaining that regime.” of their opposition to Apartheid.7

regulated by Israeli military rule, made up of against Palestinian citizens of Israel. Palestinian thousands of military orders which restrict citizens of Israel are systematically discriminated freedom of speech and assembly, freedom of against in matters of land and planning rights. movement, freedom from arbitrary arrest Over 1,000 new Jewish communities have been and a range of other rights that are established in Israel since 1950, but not a single guaranteed under international law. Palestinian settlement has been authorised by the state.8 Palestinian homes and structures are Israel imposes segregation on ethnic/national/ sometimes destroyed to make way for new religious grounds by implementing separate Jewish settlements, as is happening in the legal systems for Jewish Israelis and Naqab region in the south of Israel. Palestinians living in the same area. Jewish Israeli settlers living in the illegal settlements Aside from those Palestinians living under in the occupied West Bank are governed by direct Israeli rule, millions of Palestinian Israeli civil law, while Palestinians also living in refugees living in exile are also subject to the occupied West Bank are governed by Israeli control. They are prevented from Israeli military law. returning to their lands from which they were displaced during the Nakba, while Jewish This legally enforced segregation is also people from around the world are invited by applied in policy and practice inside Israel the Israeli government to settle on those 06 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people relies on the relationships it maintains with with maintains it relationships the on relies impunity, with Palestinians, against violence use to ability Israel’s people. Palestinian the over oppression of system Israel’s of heart at the lies repression and violence Armed citizenship. to right automatic confiscated properties andextended the exports to Israel in 2016 in Israel to alone. exports technology weapons and weapons for million over £100 worth licences export approved government UK The forces. Israeli occupying by the used and to sold be to continue technologies military and arms UK-made exports, arms on controls official Whitehall’s Despite Martin. Lockheed and Boeing Systems, BAE G4S, Systems, Elbit include These UK. the in factories or have offices Israel to services and equipment security and military supplying companies 100 than More UK exports toIsrael law. international and rights human Palestinian of violations continuing Israel’s in complicit UK the makes Israel to arms selling and from arms Importing UK. the from receives it support diplomatic and military financial, continued the through possible made only is repression military brutal Israel’s UK-IsraelThe relationship military 9 repression of the Palestinian people. Palestinian of the repression key militarised Israel’s also are to that Israel with relationships ever-expanding and deep maintain companies technology and military UK-based and government UK The Palestinians. of oppression the from profit that world the around companies with and governments supportive proven’ in operations against Palestinians. ‘combat being weapons the to exports Israeli of success the attribute openly sources industry and military Israeli Systems. Elbit Israel’s and UK Thales to MoD the by awarded contract venture ajoint under developed was Afghanistan, in military UK by the used drone, surveillance Watchkeeper UK’s The use. military UK for weapons develop to companies Israeli to contracts awards and Israel, from technology weapons and weapons imports government UK The Israel from imports UK

10 3 UK banks facilitate Israel’s crimes 07 © Hakan Dahlstrom

In our 2015 report ‘Arming Apartheid’, we Israeli military. This makes them complicit in highlighted one element of UK complicity in the militarised repression of Palestinians. Israel’s militarised repression: the UK government’s approval of millions of pounds Using evidence gathered from two financial worth of export licences to companies selling databases, Orbis and Thomson Reuters arms to Israel. These sales were approved Dealscan, we investigated the relationship despite full knowledge of the human rights between some of the UK’s best known banks risks involved. and financial institutions and a sample of 19 companies known to supply the Israeli military But the arms companies selling weapons to and the Israeli government with weapons and Israel have another set of key partners: UK technology used in the oppression of Palestinians. high street banks and other private We looked specifically at two main ways that financial institutions finance and UK banks and financial institutions support facilitate the operations of companies these companies: 1) by holding shares in the that sell weapons and technology to the companies and 2) by providing loans to them. 08 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people them with legitimacy. providing and crimes those from benefitting and are institutions financial materially banks UK people, Palestinian the against crimes war Israel’s from profit that companies in shares holding By awhole. as trade arms the to legitimacy lend and trade arms the from profit companies arms in shares hold that Banks them. purchased they at which than price at ahigher shares their selling from and profitShareholders from dividendpayments assets. 5% its to of you have claim shares, total you 5% own if acompany’s of example, For assets. and firm’searnings the of proportion a to entitled are acompany in Shareholders technology military and weapons with Israel providing companies in Holding shares *Share values based on percentages available in the database, calculated against the total value. total the against calculated database, the in available percentages on based values *Share military Israeli the to equipment provide to known companies in Table held 1: investments Standard Life Standard Schroders Prudential &General Legal Investec Barclays HSBC Total Aviva Investor £1,304.2 £917.6 £915.6 £4,520.9 £389.4 £1,167.6 £831.5 £801.2 Total of shareholdings value £10.8 billion million million million million million million million million *

services to consumers are Barclays, Lloyds Lloyds Barclays, are consumers to services provide that UK the in banks biggest six The technology to Israel. and equipment military weapons, sell that £10.8 invest companies in billion report this in examined institutions financial UK the total, In 30. page on available is institution each by held shares the of breakdown A detailed sample. our in included companies technology and military in institutions financial and banks UK major of Table shareholdings the 1shows both. feature here statistics The provide. and own they services and funds through money people’s other invest can they Alternatively, them. purchased they than price at ahigher them by or selling dividend the from income make then and shares buy to money own their use can institutions financial and Banks 09

Banking Group, Royal Bank of Scotland, and HSBC also have extensive investments in HSBC, Standard Chartered and the other military companies involved in arming Co‑operative Bank. Of those, Barclays and Israel, as shown in Table 2. HSBC both have significant shareholdings in companies profiting from Israeli militarism. Standard Chartered, Lloyds Banking Group or RBS, which also owns NatWest, did not appear Barclays and HSBC both own shares in BAE as shareholders in any of the companies in our Systems, Boeing, Rolls Royce and Babcock. All sample. However, all three companies provide four companies profit significantly from significant loans and finance to the companies, Israel’s oppression of Palestinians. Barclays as discussed further below.

Table 2: Barclays and HSBC shareholdings in arms and technology companies that equip the Israeli military*

Barclays HSBC Babcock £30.1 million £27.3 million BAE Systems £825.4 million £180.9 million Boeing £195.5 million £102 million Caterpillar – £99.5 million Cobham £4.4 million £17.5 million Elbit Systems – £3.6 million General Dynamics – £94.7 million GKN PLC £33.2 million £30.6 million HP Enterprise – £50.7 million Meggitt £8.6 million £15.1 million Qinetiq £5 million £9.9 million Raytheon – £69.9 million Rolls Royce £62.6 million £52.9 million Ultra Electronics £2.8 million £5.1 million United Technologies – £71.8 million Total £1.2 billion £831.5 million

*Share values based on percentages available in the database, calculated against the total value. 10 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people in our sample since January 2012 January since sample our in companies to loans Table 3:Syndicated The Co The According to our research, Legal & General &General Legal research, our to According Israel. with trade arms the supporting also are retailers services financial insurance Major sample. our in included companies the of any to services financial provide or in invest to appear not does and policy investment ethical Chartered Standard RBS Lloyds HSBC Barclays Lender ‑ operative Bank has a comprehensive acomprehensive has Bank operative

participated in loans syndicated Number of 10 18 28 15 29 14 bank was involved involved was bank in which each loans syndicated Total of value £18.9 billion £16.6 billion £43.2 billion £19.3 billion £41.1 billion from Israel’s oppression of Palestinians. Palestinians. of oppression Israel’s from profit that companies in holdings significant AvivaPrudential, and Life Standard all have Table Schroders, As 1shows, militarism. Israeli involved in companies in billion £4.5 eye-watering an invests and sample our in 19 the of one companies but all in shares owns United TechnologiesUnited Royce, Rolls Boeing, Electronics Royce,Rolls Ultra Qinetiq, Grumman, Northrop Martin, Lockheed GKN, Dynamics, General Cobham, Boeing, Systems, BAE Babcock, Ultra Electronics Royce, Rolls Grumman, Northrop Meggitt, Martin, Lockheed Caterpillar, Dynamics, General Boeing, Systems, BAE Babcock, TechnologiesUnited Royce, Rolls QinetiQ, Meggitt, Caterpillar,Babcock, GKN, Technologies United Electronics, Ultra Royce, Rolls Raytheon, Qinetiq, Grumman, Northrop Meggitt, Martin, Lockheed Caterpillar, GKN, Boeing, Systems, BAE Babcock, companies to loans in Participated

11

of the syndicate, or both. It is not possible to Providing loans to companies determine the share of a total syndicated loan that arm Israel that a specific bank or financial institution lent, so the figures in Table 3 refer to the Another key form of financial support for total value of the syndicated loan each lender the arms trade is through direct lending participated in. Some of the loans we and through the arrangement of loans. By examined involved more than one UK lender. providing loans to the companies we sampled, UK banks and financial institutions are While they do not appear to hold shares in the profiting from the arms trade in general and companies examined in this report, Lloyds and the sale of weapons to Israel specifically and RBS have been involved in providing loans are lending legitimacy to their activities. worth £43.2 billion and £16.6 billion respectively.

Syndicated loans are a type of loan provided Many of the loans were provided to to a single borrower by a group of lenders. companies that are among the world’s biggest Banks and financial institutions can act as the arms dealers such as Lockheed Martin, manager of the syndicate, a lending member Northrop Grumman and BAE Systems.

Business complicity

Under international criminal law, those involved in the commission of a criminal offence can be held responsible as principal perpetrators or as accomplices.11 This can include corporations. Complicity is a type of criminal liability by which corporations can be found responsible for a crime without directly committing the crime.12 A company that facilitates the violation of international law by, for example, providing weapons to a government that uses them to carry out war crimes, may be criminally complicit with that crime.

The UN Human Rights Council has repeatedly stated that companies must terminate all business involvement in Israel’s illegal settlement activity and voted in 2016 to create a database of companies that are involved in supporting and facilitating settlement activity. The Russell Tribunal on Palestine, a citizen-led legal tribunal supported by leading international law scholars, has issued a legal opinion stating that corporations including military and technology companies can and should be held legally accountable for their complicity in Israel’s attacks on Palestinian civilians in Gaza.13 12 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people • • • • HSBC owns shares in companies that sell weapons and equipment to Israel worth £831 million, including: £831 including: million, worth Israel to equipment and weapons sell that companies in shares owns HSBC customers. has million 37 and across countries 70 offices 4,000 operates HSBC website, its to According London. in headquartered company services financial and bank multinational aBritish is HSBC law. international of violations other and crimes war Israel’s with complicity its end to action take to failing and Palestinians of oppression Israel’s from profiting directly is HSBC companies, weapons to services financial of provision its and key in firms shareholdings direct its Between alarm and generate protest. generate and alarm raise to continue will Palestinians of oppression the in role its Israel, arming companies to loans investments and loans, instead referring us to its Defence Equipment Sector Policy. Sector Equipment Defence its to us referring instead loans, and investments its about questions avoided answering HSBC information, further for request our to response In HSBC’s response category of all the banks reviewed. banks the all of category lowest the into falling standards, these to comes it when as a “laggard” HSBC BankTrack identified 2016,in conducted law. banks 45 In a of review international of violations from profiting from bank the prevents actually that away in applied is it that ensure to mechanisms enforcing and reporting diligence, by due accompanied not is and loopholes serious contains Policy Defence HSBC’s industry. arms the to services financial provide not does it that claims its with at odds completely are actions its Technologies that shows United and QinetiQ Meggitt, Babcock, as such companies to loans providing Furthermore, Rights. Human and Business on Principles Guiding UN the to according abuses rights human to contributing directly is HSBC companies, arms in investment facilitating By companies. arms those of activities the through revenue generates still HSBC clients, of behalf on shares holding is it where cases in Even directly. companies arms in shares hold does it that suggesting clients, its of behalf on held are which and directly we held are uncovered investments the of which state categorically to However, refused has clients. of HSBC behalf on held are companies arms in holds it shares the usually that stating investments its about queries our to responded HSBC do. sector involved the in companies modern most as products, and clients non-military has also company the as long so industry military and arms the of part clearly is that acompany to services provide and in invest can HSBC whereby loophole agaping is This manufacture…weapons”. primarily or that “solely firms as companies weapons defines narrowly However, HSBC companies. to weapons services financial provide not does HSBC that states CASE STUDY • • • • target civilian homes during its 2014 its Gaza. on during assault homes civilian target Raytheon in shares of £69 million Gaza. in Palestinians against war of aweapon as used have and been homes Palestinian Caterpillar in shares of million £99 Hellfire missiles. £102 Boeing in shares of million Gaza. in Palestinians to attack Israel used by F-16 the for jets fighter £180 BAE in Systems shares of million HSBC 16 , the company that provides Israel with Apache helicopters and and helicopters Apache with Israel provides that company , the As long as HSBC continues to hold shares in and facilitate facilitate and in shares hold to continues HSBC as long As , whose “bunker buster” bombs were used by Israel to to by Israel were used bombs buster” “bunker , whose , whose specially modified bulldozers are used to demolish demolish to used are bulldozers modified specially , whose , a key company involved in manufacturing components components involved manufacturing in , akey company 15 The policy policy The

13

CASE STUDY LEGAL & GENERAL

According to data we collected, no other UK investor owns as many shares in companies that are profiting from Israeli violence and war crimes against Palestinians than Legal & General. The company is deeply complicit with Israel’s oppression of Palestinians. Legal & General is a multinational financial services company headquartered in London. Its products include pensions, insurance and investments across the UK and the seven other countries it operates in. Legal & General owns shares in military and technology companies that sell military equipment, technology and weapons to Israel worth £4.5 billion. This includes: •• £978 million of shares in General Electric, whose engines are used in the helicopters and fighter jets that Israel uses to attack Palestinian civilians. •• £283 million of shares in Lockheed Martin, that sells Israel key parts of its military arsenal including F-16 and F-35 fighter jets and Hellfire missiles. •• £3 million of shares in Elbit Systems, an Israeli military company that provides security equipment used on Israel’s illegal Apartheid Wall and manufactures the aerial drones Israel uses to attack Palestinian civilians in Gaza. •• £174 million of shares in HP Enterprise, that provides technology that helps Israel to maintain a population database and ID card system that enables the allocation of different rights to different categories of people according to their race, religion and place of residence.

Legal & General’s response In response to our letter asking for further clarification, Legal & General confirmed that it does own shares in the companies mentioned. It further stated that while it does exclude companies from its investment portfolio if they manufacture cluster munitions, landmines or chemical or biological weapons, it does not currently have any policy to exclude weapons manufacturers or other military suppliers from its investment portfolios. Legal & General has confirmed that it directly invests in arms companies examined in this report. The company also says it holds shares in arms companies on behalf of clients in funds that it controls and manages on behalf of its customers. The combination of Legal & General’s direct investments and client fund holdings make clear its complicity in violations of Palestinian human rights. The company is profiting from the dividends distributed by the arms companies and the purchase and sale of the shares and lending its support and legitimacy to companies that are deeply implicated in Israel’s human rights abuses. It would be very straightforward for Legal & General to end its support for Israeli militarism by excluding any company that supplies military equipment and technology to Israel from its investment portfolio and the portfolios it creates for its clients. 14 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people 4 Key companiesthatarmIsrael Gaza. helicopters during Israel’s 2014 on attack Apache from fired by missiles killed 13 were how at least children documented have for International-Palestine Children and 2014 attacks on Gaza. on 2014and attacks 2009 Israel’s in used been having as staff medical by reported been has and flesh” the from torn be to tissue the “causes that bomb of atype munitions, Explosive Metal Boeing bombs and Apache helicopters. 2000-lb MK84 jets, F-15 fighter Eagle missiles, Hellfire with Israel provided has and company arms world’s largest second the is Company Boeing US-headquartered siege on Gaza. on siege the maintain to uses Israel which drone, naval Protector the market and produce company Rafael, BAE Systems worked to on Gaza. on assaults regular its of F-16 the as part as Force. Air Israeli the to systems Rokar, dispensing supplies arms company in the world. the in company arms largest third the and company military and arms UK’s the is largest Systems BAE BAE Systems 2011. in Israel to weapons export to licences for government UK the to applied recently F-35 jets. new for systems other and display helmet F-16 in providing is and jets selection target for (HUDS) systems Display Up 18 23 In cooperation with Israeli arms arms Israeli with cooperation In Boeing also produces Dense Inert Inert Dense produces also Boeing 21 Israel uses military aircraft such such aircraft military uses Israel 19 BAE’s Israeli subsidiary, subsidiary, BAE’s Israeli 20 BAE also provides Head Head provides also BAE 24 17 It most most It 22 Defence Defence during attacks on Palestinians. on attacks during phosphorus white of use its for criticised been has Israel area. acivilian in use for prohibited law, is international under which weapon Palestinian WestPalestinian Bank. occupied the through runs that wall Apartheid illegal Israel’s of construction the and crops groves olive and orchards, schools, homes, Palestinian of demolition the in used are products other and bulldozers Caterpillar Caterpillar Apartheid Wall in the occupied West Bank. occupied Wall the in Apartheid illegal Israel’s in used technologies surveillance supplies specially designed sensor and Systems, company, Elbit military largest Israel’s Elbit has producedhas white phosphorous and visualisation Elbit helmets tank systems. smart platforms, aerial robots, ground armed drones, aerial including on Gaza, assaults illegal settlements. illegal against protesting Qaddum Kufr in Palestinians unarmed against weapon crowd control a as used also are loaders wheel military family. Caterpillar aPalestinian of home the protect to tried she as bulldozer weaponised D9 aCaterpillar beneath killed was Corrie assault on Gaza. on assault 2009 Israel’s during homes Palestinian destroy to used was bulldozer controlled remote unmanned developed aspecially and Gaza in war of aweapon as used have been bulldozers were used during Israel’s 2009 Israel’s during were used Systems by Elbit supplied Weapons drones. aerial 900 and 450 Hermes the including military Israeli the to technology and weaponry of range awide provides also Systems Elbit 26 In 2003, US activist Rachel Rachel activist US 2003, In 25 Caterpillar D9 Caterpillar 28 and 2014 2014 and 29 , a chemical , achemical 27

15

Lockheed Martin Northrop Grumman US firm Lockheed Martin is the world’s Northrop Grumman is a US arms largest weapons manufacturer. Lockheed company that manufactures missiles, Martin has sold Israel key parts of its drones and military aircraft. It provides military arsenal including F-16 fighter jets Israel with the Longbow missile system for and Hellfire missiles.30 According to a UN its Apache helicopters that are used to fact-finding mission, Hellfire missiles were attack Palestinian civilians. It also provides used against civilians during Israel’s Israel with weapons navigation systems, 2008-09 assault on Gaza.31 In 2017, engineering and technical support for its Lockheed Martin opened an office in Israel F-15 and F-16 fighter jets. Northrop to “demonstrate[s] the Corporation’s Grumman has also provided the Israeli commitment to supporting the Israeli navy with three Sa’ar V missile ships, which Defense Force”.32 In December 2016, help to enforce the illegal siege on Gaza.35 Lockheed Martin delivered the first two of fifty F-35 jets that Israel has ordered.33 Raytheon Raytheon is the world’s fourth largest Motorola Solutions arms company and the largest producer Motorola Solutions is a US technology of guided missiles. According to data company. Its fully owned subsidiary, compiled by the American Friends Service Motorola Israel, provides surveillance Committee, an NGO of the Quaker church systems to Israeli settlements and in the US, Raytheon has participated in checkpoints on Israel’s illegal Apartheid contracts worth over $4bn in the last Wall, as well as the wall around Gaza. decade. Raytheon has provided Israel with The company provides continuous “bunker buster” bombs, guns for navy service to these systems. In addition, ships and air-to-surface missiles. Raytheon Motorola Israel has developed advanced also provides missiles and electronic communications systems for the Israeli systems and radars for Israel’s F-16s. military and has signed contracts to Raytheon has based one of its main provide encrypted mobile phones to the facilities in Israel and collaborates with a Israeli military and to the Israeli police. number of Israeli weapons companies.36 Motorola Israel also provides services to the Israeli prisons at which Palestinian political prisoners are held.34 16 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people 5 through exports to Israel. to exports through enable companies UK that violence of range the shows years recent in government UK by approved the licences export of types the of Examples Palestinians. of oppression violent its maintain to needs it that technology and weaponry the of much with Israel provide companies weapons and military international and UK Palestinian civilians. Palestinian on attacks in used Industries Aerospace Israel and Systems by Elbit manufactured drones documented Watch has Rights Human UK. the in factories four has Systems Elbit maker drones Israeli and government, UK by the basis annual almost an on approved are components drone for licences Export West Bank. the and Gaza in attacks armed for also and surveillance for both used are Drones Palestinians. of oppression its of akey as part drones, as known also vehicles, aerial unmanned uses Israel dronesarmed and Surveillance Israel’s militarised repression Israel’s militarised in Gaza in 2014 in drones. using Gaza in were killed assault Israel’s in killed Palestinians 37% the of some that and 2004-14, period the in drones by armed were killed Gaza in Palestinians 2,000 more than organization, rights human aGaza-based Rights, Human for Center 38 According to Al Mezan Mezan Al to According 37

39

as “turning blood into money”. into blood “turning as process this Yoav described General Galant civilians. Major Israeli ontested Palestinian been has it that means it tested’, by which ‘field as technology the markets then Elbit use. to military Israeli the to it sells or gives first it system, military or weapon new a develops Elbit company. When weapons and military largest Israel’s is Systems Elbit world. the in expenditure capita per $18 highest third was the billion, expenditure military 2016, In Israeli earth. on states militarised heavily most the of one is Israel money into blood turning companies: military Israeli continued violence against Palestinians. continued violence against for incentive apowerful creates market international the for weapons showcase to conflict of use the and size, small relatively its given remarkable 2014, in world the especially in exporter weapons largest 8th the was Israel 2014 Gaza. on the during used and attack were tested products how Elbit’s interview an in boasted Systems, Elbit with executive asenior Machlis, Bezhalel equipment. military and weapons tested newly of sales increased to lead would conflict the anticipated investors as Gaza on attack 2014 the rose during price share Elbit’s 41 40 42 17

A Palestinian boy holds part of a drone-launched missile which destroyed a Basel Yazouri © family home in Gaza City in 2014 18 Deadly© USAF investments: Erik Anthony UK bank complicity in Israel’s crimes against the Palestinian people Aircraft and missiles missiles and Aircraft dropped by F-16s 2014 Israel’s dropped on during attack bombs MK-84 and MK-82 of use the Describing incivilian and Lebanon casualties Gaza. of thousands in resulting areas, civilian populated densely on attacks Israeli in repeatedly used F-16been haveof jets fleet Israel’s fighter aircraft. support military equipment equipment and for producing launching missile aero-engines, military targetingcomponents, equipment, helicopter combat displays, up/down heads aircraft including: aircraft, combat for have components various included 2012 since Israel to exports UK housing. total devastation of infrastructure and and casualties and deaths civilian of thousands in resulting Strip, Gaza the of campaigns bombing many Israel’s in akey role played has force air Israeli The

attacks constitute war crimes.attacks such that means which attacks,” indiscriminate of prohibition the of aviolation constitute to likely are Gaza, of areas up built populated, densely in weapon of type this used which “Attacks, said: (OHCHR) Rights Human for Commissioner High UN the of Office the Gaza, new F-35 jets. F-35 new the in used components produces also BAE, aircraft. of fleet its update to ordered has Israel that jets F-35 new fifty twoof first the delivered 2014. in there office aresearch opened company the as Israel, and Martin Lockheed between relationship acloser in have to resulted seem missions bombing Israel’s UK. the in offices and factories nine least at with firm aUS Martin, Lockheed by produced are F-16 jets fighter 44 In December 2016, Lockheed Martin 45 The UK’s own largest arms company, company, arms UK’s The largest own 43 19

Israel’s attacks on the besieged Gaza Strip

Since 2000, the Gaza Strip has been being used as shelters with mortars, and subject to a series of Israeli closure ambulances and hospitals came under attack.49 policies designed to isolate and restrict Israel bombed homes with families sleeping the movement of people and goods.46 In inside.50 In some cases, the Israeli military 2007, Israel intensified the closures to a levelled entire neighbourhoods, such as the military siege – blockaded by land, sea Shuja’iyya neighbourhood in Gaza City. and air. The United Nations has Researchers found that Israel fired 7,000 described the siege as a form of shells into the neighbourhood, 4,800 of which collective punishment, which were shot in the course of just seven hours.51 constitutes a war crime.47 The siege is One-ton bombs were also dropped on the enforced by the Israeli navy, army and area, killing at least 55 Palestinians.52 other military forces. Following Israel’s 2014 bombardment of the Israel carried out brutal military assaults on Gaza Strip, the siege has made it impossible Palestinians in Gaza in 2008-09, 2012 and for any real reconstruction to take place, as 2014. The UN and human rights organisations key construction materials are amongst the have documented that Israel deliberately many items on Israel’s list of restricted items. targeted civilians and civilian buildings during Three years on, over 50,000 are still displaced all three attacks. from the destruction in 2014,53 despite the millions of pounds in aid designated for During the 2014 assault, more than 2,250 reconstruction, most of which has been sunk Palestinians were killed and more than half a into international bureaucracy and Israeli million were displaced.48 The attack involved administrative costs. The situation has air strikes, drone strikes, and extensive use of become so dire that the UN has declared artillery and ground incursions by Israeli that the Gaza Strip will be “uninhabitable” armed forces. Israel attacked UN schools by 2020 if conditions don’t change.54 © Ezz Zanoun 20 Deadly© investments: War on Want UK / Rich bank Wiles complicity in Israel’s crimes against the Palestinian people Attacks and farmers on Palestinian fisherfolk case on 15 on case 2017, May Bakr Mohammed when the was as even or death, injury risk they by mistake, zone permitted the of out drift or error, navigational makeslight a fisherfolk If line. poverty the under live Gaza’s fisherfolk 95% of B’tselem, to According catch. their of quality and quantity the restricting miles, nautical six in sail to fisherfolk Palestinian allows only navy Israeli the coast, the off miles nautical 20 to up in fishing for allow to supposed are Accords Oslo the While boats. their confiscates or Gaza in fisherfolk at fires regularly which navy, Israeli the from violence of threat constant under are Gaza of coast the working off fisherfolk Palestinian 4,000 Some attacks. bombing large-scale for only reserved not is Gaza in Palestinians against violence military Israel’s

dependent population. dependent aid- food already an in sovereignty food undermining further and livelihoods to damage severe causing areas, those in farms family and production agricultural Palestinian destroying fence, perimeter Gaza by the herbicides spray to airplanes with companies private hires regularly Defense of Ministry Israeli The targets. also are livelihoods their and Farmers destroyed every year. every destroyed or damaged are equipment, fishing of amount large a and boats, 2016. fishing of Dozens in confiscated were and boats 43 by gunfire injured 26 were detained, were 135 fisherfolk organisation human rights Al Mezan, Palestinian by collected information to According Strip. Gaza besieged the of coast the off fishing was he while navy Israeli by the killed and shot was old) years (28 55 56 21

Naval combat vessels

The Israeli navy has a continual the beach, as journalists looked on in horror presence in the Mediterranean Sea, off from their hotel. the coast of the Gaza Strip. Companies in the UK have been awarded export But Israel’s naval attacks on Palestinians in licences for a variety of components for Gaza are ongoing. Israeli naval vessels are a combat naval equipment. key part of enforcing the blockade on the Gaza Strip, keeping Palestinians in a deepening During the full-scale military attacks on the state of humanitarian crisis. The blockade of Gaza Strip, Israeli naval vessels shelled seaside Gaza is considered “collective punishment” areas in the Gaza Strip, resulting in numerous by United Nations experts, making it a war deaths and casualties. This includes the crime under international law. Despite this, well-known case of a beach shelling when four the UK government continues to allow UK boys from the same extended family were companies to export weapons and technology killed on 16 July 2014 while playing football on used to maintain the blockade. © Israel Defense Forces 22 © Jaafar AshtiyehDeadly /investments: AFP / Getty Images UK bank complicity in Israel’s crimes against the Palestinian people gas andgas live human ammunition. Palestinian tear with responded Israel oppression, Israeli Palestinians took the streets to protest of 2015, thousands of tens October when In protestors. Palestinian kill’ to ‘shoot to forces occupation its allow that engagement’ of ‘rules new 2015 In adopted Israel demonstrations. mass suppress force to arbitrary and organisationshuman rights of using excessive by leading accused been has military Israel’s resistance. popular repress to violence military uses Israel mobilisation. mass of forms other and boycotts organising, community strikes, protests, through oppression Israeli resisting of history have arich Palestinians resistance popular Repressing 57 ammunition and other weapons. live bullets, coated rubber gas, by tear were injured 7,000 than more period, same the In protests. during forces occupation by Israeli shot them of many forces, security and military Israeli by the killed were Palestinians 60 amonth, of span the in that, reports Haq Al organisation rights raids on their homes. their on raids military the and Wall, settlements, Apartheid illegal the against protests unarmed during were injured hundreds and soldiers, Israeli by killed and were shot children Palestinian the West Bank” in adecade. in West Bank” the in children Palestinian for year “deadliest the 2016 called –Palestine International Children for Defence organisation rights human The 59 Over 30 30 Over 58 23

Restricting movement

Israel uses military force and a range The military checkpoints along the Wall also of technologies in order to maintain restrict Palestinian movement, and are used as its occupation of Palestinian territory. high-tech surveillance centres to control the Walls, watchtowers and some 500 few who are allowed through. IT company HP checkpoints, barriers and gates, often Enterprise provides technology that helps equipped with hi-tech sensors and Israel to maintain a population database and cameras, are used to enforce racial ID card system that enables the allocation of segregation and deny Palestinians their different rights to different categories of freedom of movement. people according to their ethnicity/national identity, religion and place of residence.60 The illegal Apartheid Wall built in the West Bank is not only a physical barrier. It is Since 2015 Israel has carried out a large dotted with watchtowers where Israeli number of extrajudicial killings of Palestinians, snipers and remote-controlled machine guns several of them occurring at checkpoints. are stationed to surveill Palestinian Amnesty International has accused Israel of movement, ready to use live fire against unlawful killing and displaying “an appalling Palestinians at any time. disregard for human life by using reckless and unlawful lethal force against Palestinians”.61 © War on Want / Rich Wiles / on Want © War 24 © War on Want / Rich Wiles Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people repression’ are subject to a ban according to to according aban to subject are repression’ ‘internal for used weapons of Exports Israel. inside and Bank West the in Palestinians unarmed by undertaken protests on attacks in frequently used are items Such Israel. to UK the from exported regularly are pistols and launchers grenade rifles, assault rifles, sniper for Components grenade launchers and pistols rifles, assault Sniper rifles, as live fire. as well as bullets, rubber launchers), grenade (shot from gas tear of amounts copious using repressed are over Palestinians control Israel’s of elements other and confiscations land settlements, Israeli illegal Wall, Apartheid illegal the against Protests LicensingExport Criteria. Arms National and EU Consolidated the 25

What are the criteria used to license arms exports?

Arms exports licensing decisions are Fallon failed to mention additional criterion made on a case-by-case basis, using the stipulating that the government will take Consolidated EU and National Arms Export into account the buyer country’s “respect Licensing Criteria, adopted in October for international law”. 2000.62 In a 2013 parliamentary answer, the then Minister of State for Business and There is a clear risk of any arms exports to Enterprise, Michael Fallon MP, said that Israel being used for “internal repression” three of the consolidated criteria were seen or “to assert by force a territorial claim,” by the government as being particularly given that control of the oPt is a core relevant to exports to Israel.63 These were: function of the Israeli military. In addition, continuing to supply Israel with arms in 1. Where there is a clear risk of the spite of its behaviour clearly does “provoke equipment being used for or prolong armed conflicts or aggravate “internal repression”; existing tensions or conflicts”.

2. Where the export would “provoke or If the government’s own export prolong armed conflicts or aggravate guidelines were properly applied on existing tensions or conflicts”; and a case-by-case basis, the result would be a de facto embargo on arms 3. Where there is a “clear risk that the exports to Israel. intended recipient would use the proposed export aggressively against another country, or to assert by force a territorial claim”. © Xinhua/Alamy 26 © EPA / AbedDeadly Al Hashlamoun investments: UK bank complicity in Israel’s crimes against the Palestinian people Bulldozers and other ‘civilian’ other and Bulldozers equipment Palestinian homes in the West Bank and and West Bank the in homes Palestinian of demolitions out carry to forces security Israeli by the used bulldozers the of Some operations. ‘security’ so-called in property other and homes Palestinian of destruction the in used is equipment this of Much regulation. of radar the under falls and military operations would not be considered as military in used regularly equipment other But use. civilian or military for used be can it that meaning is categorisedequipment, ‘dual-use’, as cryptographic and electronic as such it, of Some operations. ‘security’ out carry to equipment ‘civilian’ deploys also repression Israel’s militarised Bank. West Palestinian occupied the through runs Wall that Apartheid illegal Israel’s of construction the and crops grovesolive and orchards, schools, homes, Palestinian of demolition the in used are products other and bulldozers Caterpillar Israel. in arrival upon use military for fitted are Israel inside used as a weapon of war in Gaza. in war of aweapon as used Bank village Kufr Qaddum. Qaddum. Kufr village Bank West in Palestinian demonstrations weekly the repress to used been haveThey also family. aPalestinian of home the protect to tried she as bulldozer weaponised D9 aCaterpillar beneath killed was Corrie Rachel activist US 2003, In 64 Caterpillar D9 bulldozers have been have been bulldozers D9 Caterpillar 65 27

Destruction of Palestinian homes in Israel and the oPt

Recent years have seen a dramatic are denied access to water, electricity, increase in the demolition of Palestinian adequate health and schooling, and other homes. The United Nations reported public services provided to Jewish villages that Israeli authorities demolished or and homes in the area. The unrecognised seized 1,089 Palestinian-owned villages are slated for destruction to make structures throughout the West Bank way for Jewish homes/settlements and in 2016, displacing 1,593 Palestinians tourism and recreational areas. and affecting the livelihoods of another 7,101. 66 This is double the number of In January 2017 Israeli police and other demolitions in 2015. security forces invaded the unrecognised village of Umm al Hiran, demolishing homes Israeli demolition policies affect Palestinian and other structures to make way for a citizens of Israel as well, particularly in the new Jewish village. When residents and Naqab region of Southern Israel, where supporters protested the demolitions, some 80,000 Bedouin Palestinian citizens of Israeli police fired at them using tear gas, Israel are at risk of being forcibly displaced sponge-tipped bullets,68 and live from some 36 villages.67 The villages are ammunition, killing Yaqub Musa Abu Qi’an, ‘unrecognised’ by Israel, meaning that they a local teacher. © Shadi Hatem/APA 28 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people 6 Take Action a clear set of standards and obligations for for obligations and standards of set a clear provide government, UK by the promoted and endorsed (UNGPs), Rights Human and Business on Principles Guiding UN The people. Palestinian the against crimes Israel’s in responsibility their shirk also companies British law, that it’s surprise no international implement level to governmental at the will political anyof serious absence the In impunity. with violence its out carry to Israel incentivises arms in trade This trade. continuing arms the through especially support, material and diplomatic with aggression Israel’s reward to continue UK, the including Governments, change. little in have resulted condemnations these of most Unfortunately, world. the governments and around organisations rights human Nations, United from the condemnations prompted has people Palestinian the of treatment unjust and brutal Israel’s decades, For

involved in arming Israel’s aggression. Israel’s involved arming in anyothers and we have profiled, companies the with relationships business their end complicity,their they should immediately end to order In Israel. arm that companies the financing in role their of because rights to Israel’s violations human of Palestinian link and/or have to adirect contributing are They regard. that in have failed report this in examined and The institutions financial banks their own activities. as well as relationships business their to apply they that and obligations, and standards these from exempt not are institutions financial and issued additional banks that guidance clarifying (OHCHR) Rights for Human Commissioner 2017, June High UN the of Office the impacts”. In rights human adverse mitigate or prevent to “seek to and impacts” rights human adverse to contributing or causing “avoid to steps active take to responsibility have a companies that stating in explicit are They rights. human of respect in businesses

29

•• launched divestment campaigns at their Stop Arming Israel campaign universities to end university investments in the arms trade with Israel In 2011, Palestinian civil society called on people of conscience around the world to The success of the Stop Arming Israel campaign take up campaigns for a comprehensive depends on people taking action to end the military embargo on Israel. The call urged complicity of companies in our towns and on for an end to military aid and weapons our high streets with Israel’s oppressive control exports to Israel, ending the transfer of over Palestinians. weapons and military technology to and from Israel, and ending all forms of military aid and research cooperation. HSBC: complicit in human

The call has been echoed by political parties rights abuse and civil society organisations such as NGOs, HSBC, with its hundreds of branches across the trade unions, faith and campaign groups from UK, is present on many of our high streets, and across the world, including the Trades Union has thousands of customers in the UK. HSBC Congress (TUC), the Scottish National Party hides behind its Defence Policy, which has built-in (SNP), the Liberal Democrats, the Green loopholes that allow for it to continue to actively Party and Amnesty International. maintain business relationships with some of the world’s largest arms companies. HSBC claims Campaigners in the UK have: that it has no responsibility for the actions of its •• lobbied their MPs to end the UK-Israel clients, even if there is clear evidence that they arms trade are acting in violation of international law. If HSBC is serious about a commitment to human •• held protests at factories and offices of arms rights, its first step must be to immediately end companies known to be supplying Israel with its business relationship with companies that arm deadly weapons and military technology Israel’s militarised repression.

ACT NOW!

Visit our website to take action as a part of our Stop Arming Israel campaign: waronwant.org/stoparmingisrael

1. Tell HSBC to divest from and stop lending funds to companies involved in the arms trade with Israel. 2. Email your MP to demand a two-way arms embargo against Israel. 3. Support the Stop Arming Israel campaign. You can order campaign materials and book a speaker at: waronwant.org/order-free-materials 30 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people 7 Appendix regarding Elbit Systems, from the Nasdaq.com website. Nasdaq.com the from Systems, Elbit regarding information the of case the in and, database, information financial available commercially a 2017 March database, and Orbis the from February in gathered was information The report. this in examined institution financial and bank by each company technology each and company military each in held shares the on information provides table following The shareholdings Tables of United TechnologiesUnited Electronics Ultra RoyceRolls Raytheon Qinetiq Grumman Northrop Motorola Solutions Meggitt Lockheed Martin Enterprise HP GKN Electric General Dynamics General Systems Elbit Cobham Caterpillar Boeing BAE Systems Babcock Total held shares % of Aviva 0.16 0.48 0.11 0.11 0.5 0.27 0.14 0.32 0.12 0.68 0.51 1.16 – – – – – – –

held £m held shares Value of 801.3 102 291.3 141.4 22.3 36.1 23.6 79 74 9.2 7.5 7.8 7.1 – – – – – – – held shares % of Barclays 0.65 0.19 0.31 0.52 0.2 0.23 0.25 0.45 3.97 – – – – – – – – – –

1,167.6 held £m held shares Value of 825.4 195.5 30.1 62.6 33.2 2.8 8.6 4.4 5 – – – – – – – – – –

HSBC held shares % of 0.79 0.12 0.48 0.44 0.59 0.87 0.34 0.61 0.38 0.1 0.2 0.16 0.21 0.23 – – – – –

held £m held shares Value of 831.5 180.9 102 30.6 94.7 52.9 50.7 99.5 15.1 69.9 71.8 27.3 17.5 5.1 3.6 9.9 – – – – held shares % of Investec 0.37 0.14 0.47 0.71 0.41 0.15 0.15 5 – – – – – – – – – – –

held £m held shares Value of 389.4 149 45.3 81 15.5 31.2 51.5 7 9.1 – – – – – – – – – – – held shares % of Legal & General & Legal 2.35 2.45 2.64 2.84 0.47 0.47 0.53 0.55 0.44 0.46 0.47 0.42 0.49 0.41 3.01 3.06 3.05 3.96 –

held £m held shares Value of 4,421.6 348.5 978.1 104.7 326.9 590.4 283.6 164.3 154.1 183.4 194.6 189.5 212.1 315.9 174.3 44.9 58.3 58.5 39.7 – held shares % of Prudential 2.35 0.54 0.66 0.16 0.99 0.13 0.14 0.34 1.63 1.00 1.97 – – – – – – – –

held £m held shares Value of 915.6 207.9 1.5 110. 147.2 80.4 86.3 26.4 75.1 63.2 91.2 17.7 9.8 – – – – – – – – held shares % of Schroders PLC 10.00 0.59 0.36 0.11 4.64 0.30 0.37 0.13 0.89 0.17 1.54 – – – – – – – –

held £m held shares Value of 917.6 320.2 125.9 162 1.3 117. 30.4 73.6 69.1 19.1 – – – – – – – – – – – held shares % of Standard Life 13.30 0.24 0.15 0.26 0.20 0.10 0.21 5.03 3.58 – – – – – – – – – –

held £m held shares Value of 1304.2 320.9 122.4 615.8 90.9 94.7 20.9 31.7 3.9 3 – – – – – – – – – – 31

Aviva Barclays HSBC Investec Legal & General Prudential Schroders PLC Standard Life

% of Value of % of Value of % of Value of % of Value of % of Value of % of Value of % of Value of % of Value of shares shares shares shares shares shares shares shares shares shares shares shares shares shares shares shares held held £m held held £m held held £m held held £m held held £m held held £m held held £m held held £m Babcock 0.51 23.6 0.65 30.1 0.59 27.3 0.15 7 3.96 183.4 1.97 91.2 – – 13.30 615.8 BAE Systems 0.68 141.4 3.97 825.4 0.87 180.9 0.15 31.2 2.84 590.4 1.00 207.9 1.54 320.2 – – Boeing 0.12 102 0.23 195.5 0.12 102 – – 0.41 348.5 0.13 110. 5 – – – – Caterpillar – – – – 0.23 99.5 – – 0.49 212.1 0.34 147.2 0.17 73.6 – – Cobham 0.32 7.1 0.2 4.4 0.79 17.5 0.41 9.1 2.64 58.3 – – – – – – Elbit Systems – – – – – 3.6 – – – – – – – – – – General Dynamics – – – – 0.21 94.7 – – 0.42 189.5 – – – – 0.21 94.7 General Electric 0.14 291.3 – – – – – – 0.47 978.1 – – – – – –

GKN 1.16 74 0.52 33.2 0.48 30.6 0.71 45.3 3.05 194.6 0.99 63.2 0.30 19.1 5.03 320.9

HP Enterprise – – – – 0.16 50.7 0.47 149 0.55 174.3 – – 0.37 117. 3 0.10 31.7 Lockheed Martin – – – – – – – – 0.46 283.6 0.14 86.3 0.13 – – – Meggitt 0.27 9.2 0.25 8.6 0.44 15.1 – – 3.06 104.7 2.35 80.4 0.89 30.4 3.58 122.4 Motorola Solutions – – – – – – 0.14 15.5 0.53 58.5 0.16 17.7 – – – – Northrop Grumman 0.11 36.1 – – – – – – 0.47 154.1 – – 0.11 – – – Qinetiq 0.48 7.8 0.31 5 0.61 9.9 5 81 2.45 39.7 1.63 26.4 10.00 162 0.24 3.9

Raytheon – – – – 0.2 69.9 – – 0.47 164.3 – – 0.36 125.9 0.26 90.9 Rolls Royce 0.16 22.3 0.45 62.6 0.38 52.9 0.37 51.5 2.35 326.9 0.54 75.1 0.59 – 0.15 20.9 Ultra Electronics 0.5 7.5 0.19 2.8 0.34 5.1 – – 3.01 44.9 0.66 9.8 4.64 69.1 0.20 3 United Technologies 0.11 79 – – 0.1 71.8 – – 0.44 315.9 – – – – – –

Total 801.3 1,167.6 831.5 389.4 4,421.6 915.6 917.6 1304.2 32 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people © Jaafar Ashtiyeh / AFP / Getty Images 33 34 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people 2 1 Notes 9 8 7 6 5 4 3          https://goo.gl/EPwJ1Y 2017. 12 June sector’. banking the of context the in 2016. https://goo.gl/kUtCdV Forward The territories’, and 2017 by Israel Jews in pass to population 2017: by ‘Palestinian population Jewish the exceed will population Palestinian total the that suggest Estimates 6.41 million. was time that at control Israeli under living population Palestinian total the meaning gl/1QcbF2, at 1.53 https://goo. million: Israel inside and million 1.91 Gaza in million, 2.97 at Jerusalem) East (including Bank West the of population Palestinian the put Statistics of Bureau Central Palestinian the month, same the In https://goo.gl/7z756n; Jerusalem: East plus 1967 borders Israel’s within living (Palestinians) Arabs 1.79 million and Israel in living Jews million 6.45 were 2016 there December in Statistics, of Bureau Central Israeli the to According Rights Human and Business on Principles Guiding UN the of application the regarding advice for BankTrack from request to response ‘OHCHR Rights, Human for Commissioner High Nations United the of Office database: https://goo.gl/XPViRu database: online Trade Arms Against Campaign on details Full 2016.21 https://goo.gl/WJHLeY June Adalah.org Rights’, Planning and ‘Land Adalah, https://goo.gl/9hzPqi 2011: November findings’, full Palestine: on Tribunal Russell ‘The see: studies, case and analysis adetailed For https://goo.gl/Q3KjyL 2016, 1. p. January report’, 2014, in annual gaps social and ‘Poverty Institute, Insurance National Israel June 2017. https://www.adalah.org/en/law/index laws database’, discriminatory ‘The accessed Adalah.org, 21 Israel, in Rights Minority Arab for Center Legal The Adalah: 2017. Publishing, Hart State Democratic and aJewish as Israel Constitutionalism: Exclusionary of Dynamics The MMasri, see: issue, this on more For privileges. and rights restricted comparatively with ‘Arab’ or categories, other the above privileges and rights of aset them affords which ‘Jewish’, of categories ‘national’ into divided are citizens Rather, alike. non-Jewish and Jewish citizens, all by shared nationality ‘Israeli’ no exists There State.” sovereign own their fate…in own their of masters be to people Jewish the of right natural “the of expression an was creation state’s the that says which Independence of Declaration Israel’s in used language the of extension an is law This descendants. their and world the around Jews all to citizenship of right automatic extending Return, of Law the passed 1950In Israel waronwant.org/israeli-apartheid-factsheet Waronwant.org factsheet’, Apartheid ‘Israeli see: topic this on more For , accessed 21 June 2017. 21 June , accessed http://www. , accessed

, 2 January

,

23 22 21 20 19 14 13 12 11 10 18 17 16 15    

         22 November 2010. https://goo.gl/9Yj1df November 22 Tribunal on findings Palestine: ofthe London session’, Russell ‘The see: information more For Statute. ICC the of 25 article and (ICTR) Rwanda for Tribunal Criminal International the of 6(1) Statute the of Article (ICTY), Yugoslavia former the for Tribunal Criminal International the of 7(1)Statute the of article in codified is principle This session’, 22 November 2010. https://goo.gl/9Yj1df November 22 session’, Russell‘The Tribunal on findings Palestine: ofthe London https://goo.gl/H3DLon https://goo.gl/H3DLon 2017. 3April accessed AlHaq.org, law’, international of violations for accountability ‘Corporate Haq, Al yearbook 2016 summary’. https://goo.gl/cRsQ2M 2016 summary’. yearbook ‘SIPRI Institute, Research Peace International Stockholm ibid. https://goo.gl/3gu7pD 2016. June Rights’, Human and Business on the Guiding UN Principles against banks Benchmarking principles? with ‘Banking (BankTrack), R Brightwell database in 2017, March database https://www.loanconnector.com/ Dealscan Reuters Thomson the from gathered Data Committee, ‘BAE Systems’, Investigate.Afsc.org Systems’, ‘BAE Committee, https://goo.gl/h7JWCf ; American Friends Service Aviationweek.com USV’, Protector promote Rafael Lockheed, ‘BAE, Network, Week Aviation Policy’, September 2010.Policy’, September https://goo.gl/cYGjvL Sector Equipment Defence ‘HSBC plc, Holdings HSBC sea’, sea’, the on eye an keeps vehicle surface unmanned first Navy’s com missile launched from unmanned Israeli ship’, Timesofisrael. first, ‘In Gross, J. 2017. March 25 https://goo.gl/fyGoXv; https://goo.gl/WaMF9L Systems’, –BAE Map ‘Company Trade, Arms Against Campaign resources/arming-apartheid people’,Palestinian July 2015. http://waronwant.org/ the against crimes Israel’s in complicity UK Apartheid: ‘Arming Want, on War see: topic, this on more For https://goo.gl/fyGoXv Investigate.Afsc.org Systems’, ‘BAE Committee, Service Friends American https://goo.gl/oSPtKb https://goo.gl/oSPtKb 2015. children’, Gaza’s on waged –a war Edge Protective Defense for ‘Operation – Palestine, Children International accessed 5 April 2017. 5April https://goo.gl/oFvHke accessed Investigate.Afsc.org Company’, Boeing ‘The AFSC, , 8 March 2017. https://goo.gl/XmhoyA; I. Orpaz, ‘Israel ‘Israel Orpaz, I. 2017., 8March https://goo.gl/XmhoyA; Haaretz.com CAAT.org.uk , 17 2013. May https://goo.gl/1e8Uyy , accessed 25 March 2017. March 25 , accessed , accessed 25 March 2017. March 25 , accessed , 28 September 2006. 2006. September , 28

, accessed

,

35

24 D Hambling, ‘Doctors spooked by Israel’s mystery weapon’, 40 SIPRI, ‘Trends in world military expenditure 2016’, April Wired.com, 28 January 2009. https://goo.gl/KbHa6z 2017. https://goo.gl/arixa6

25 R Falk, ‘Report of the Special Rapporteur on the Situation 41 J Cook, ‘Israel’s booming secretive arms trade’, Al Jazeera, of Human Rights in the Palestinian Territories Occupied 16 August 2013. https://goo.gl/Vzp5hb Since 1967 to the UN General Assembly A/67/379’, Unispal.Un.org, 19 September 2012. https://goo.gl/7ziGHm 42 S Hever, ‘Gaza: a Testing Ground for Israeli Military Technology’, Middle East Eye, 15 August 2014. 26 Who Profits, ‘Caterpillar’, whoprofits.org, accessed 23 June https://goo.gl/GkU5gU 2017. https://goo.gl/1Wt8ij 43 Office of the United Nations High Commissioner for 27 In 2009, the Norwegian government decided to divest Human Rights, ‘Report of the Detailed Findings of the from Elbit Systems because of human rights concerns. Commission of Inquiry on the 2014 Gaza Conflict a/ Full details on the decisions and Elbit’s activities can be HRC/29/CRP.4’, 24 June 2015, p. 63. https://goo.gl/btqHdh found here: Council on Ethics - Norwegian Government Pension Fund, ‘The Council on Ethics recommends that the 44 Lockheed Martin, ‘Lockheed Martin Opens New Office Israeli Company Elbit Systems Ltd (‘Elbit’) be excluded in Israel’, Lockheedmartin.com, accessed 25 March 2017. from the Government Pension Fund – Global’, Etikkradet, https://goo.gl/tfVy1Z 15 May 2009. https://goo.gl/zyNtqG 45 I Lee, ‘Israel Greets First F-35 Fighter Jets From US’, 28 Human Rights Watch, ‘Precisely Wrong’, www.hrw.org, CNN.com, December 12, 2016, http://www.cnn. 30 June 2009. https://goo.gl/tdfLh5 com/2016/12/12/middleeast/israel-f-35-jets/index.html

29 Elbit Systems Ltd, ‘Elbit Systems Annual Report 2013’, 46 United Nations Office for the Coordination of p. 25. https://goo.gl/GPFXAo Humanitarian Affairs, ‘The Gaza Strip: The humanitarian impact of the blockade’, www.ochaopt.org, 14 November 30 AFSC, ‘Lockheed Martin’, Investigate.Afsc.org, accessed 2016. https://goo.gl/4rC3tA 25 March 2017. https://goo.gl/64wMrd 47 UNOHCHR, ‘Collective Punishment in Gaza Must End: 31 United Nations General Assembly, ‘Report of the Israel’s Blockade Enters Its 7th Year’, Newsarchive.Ohchr.org, United Nations Fact-Finding Mission on the Gaza 2013, http://newsarchive.ohchr.org/EN/NewsEvents/Pages/ Conflict’, A/HRC/12/48, 25 September 2009, p. 197. DisplayNews.aspx?NewsID=13455&LangID=E https://goo.gl/VT6Kf7 48 United Nations Relief and Works Agency, ‘Gaza 32 Lockheed Martin, ‘Lockheed Martin opens new office in Emergency’, www.unrwa.org, accessed 30 June 2016. Israel’, Lockheedmartin.com, accessed 25 March 2017. https://goo.gl/UUN1S2 https://goo.gl/YopyvX 49 UNOHCHR, ‘Report of the Detailed Findings of the 33 I Lee, ‘Israel Greets First F-35 Fighter Jets From US’, Commission of Inquiry on the 2014 Gaza Conflict A/ CNN.com, 12 December 2016. https://goo.gl/UyrbXt HRC/29/CRP.4’, 24 June 2015, p. 63. https://goo.gl/btqHdh

34 All details in this profile taken from: Who Profits, 50 A Abunimah, ‘Case of Gaza Family Killed in Their Sleep ‘Motorola Solutions Israel’, Whoprofits.org, accessed Taken to International Criminal Court’, Electronic Intifada, 6 May 2017. https://goo.gl/qwh4iw November 23, 2015, https://electronicintifada.net/blogs/ ali-abunimah/case-gaza-family-killed-their-sleep-taken- 35 AFSC, ‘Northrop Grumman’, Investigate.Afsc.org, international-criminal-court. accessed 25 March 25 2017. https://goo.gl/BjTEQN 51 E Efrati, ‘The killing of Salem Khalil Shammaly – testimony 36 AFSC, ‘Raytheon’, Investigate.Afsc.org, accessed 25 March of Eran Efrati’, russelltribunalonpalestine.com, 24 September 2017. https://goo.gl/XXFhkA 2014. https://goo.gl/iDWVug

37 CAAT, ‘Company Map: Elbit Systems’, caat.org.uk. 52 UNOHCHR, ‘Report of the Detailed Findings of the https://goo.gl/amLfKc Commission of Inquiry on the 2014 Gaza Conflict A/ HRC/29/CRP.4’, 24 June 2015. https://goo.gl/btqHdh 38 Human Rights Watch, ‘Precisely Wrong’, www.hrw.org, 30 June 2009. https://goo.gl/tdfLh5 53 UNOCHA, ‘Record number of demolitions in 2016, casualty toll declines’, www.ochaopt.org, 29 December 2016. 39 As cited in Corporate Watch, ‘Gaza: Life beneath the https://goo.gl/5ooMFk drones’, 15 February 2015. https://goo.gl/6dNuSQ 36 Deadly investments: UK bank complicity in Israel’s crimes against the Palestinian people 56 55 54 62 61 60 59 58 57          Amnesty.org life’, for human disregard shocking reveals killings International,Amnesty ‘Israel/OPT: of Pattern unlawful https://goo.gl/paKuJz https://goo.gl/paKuJz www.dci-palestine.org decade’, past of year deadliest face Bank West in ‘Children DCI-Palestine, http://bit.ly/1Ehoypi 2014). March 25 2012 on 21 (updated November criteria’, licensing export arms national and EU ‘Consolidated &Skills, Innovation Business, for Department https://goo.gl/cxS3NE engagement’, of rules new tough Israel’s decry ‘Palestinians in some areas’, www.gisha.org areas’, some in miles nautical nine to expanded zone ‘Fishing Gisha, https://goo.gl/XnyC37 www.gisha.org crops’, destroy will spraying Israeli fear farmers ‘Gaza Gisha, https://goo.gl/bosBTB occupying forces’, www.alhaq.org forces’, occupying Israeli by Palestinians of killing ‘Unlawful Haq, Al 1 September 2015. https://goo.gl/QbLBAE www.un.org report’, UN ‘de-development’– ongoing to due years five than less in uninhabitable become could ‘Gaza https://goo.gl/2toRfS https://goo.gl/2toRfS toPalestine Massachusetts’, Massagainsthp.org to Africa South From Oppression, in Role Packard’s Hewlett- Technology: HP, ‘Apartheid Against Mass , 28 September 2016. https://goo.gl/F79wHA 2016. https://goo.gl/F79wHA September , 28 , 5 January 2017. https://goo.gl/CA1VqU 2017. https://goo.gl/CA1VqU , 5January Middle East Monitor East Middle , 14 2017. May , 31 October 2015. , 31 October , 26 September 2015. , 26 September , 23 December 2016. December , 23

, May 2016. , May

, 67 68 66 65 64 63       Naqab (Negev)’, January 2017. https://goo.gl/HXawCe 2017. https://goo.gl/HXawCe January (Negev)’, Naqab the in land their from Israel of citizens Bedouin Palestinian dispossess and displace forcibly to plan new government’s Israeli the II”: “Prawer on paper position ‘Adalah’s S Bishara, https://goo.gl/qhD89o 2013, c185W. 8January Hansard, Commons of House https://goo.gl/5ooMFk www.ochaopt.org declines’, toll casualty 2016, in demolitions of number ‘Record UNOCHA, https://goo.gl/raAv8u 2013, 43. p. January Bank’, West the in weapons control crowd of use Israel’s control: ‘Crowd B’tselem, participants). Jewish only with demonstrations against used being weapons these of record no had they that a2013 in reported organisation rights human (Israeli allies their and Palestinians against Jerusalem East in and Israel inside police Israeli by especially used weapons, control’ ‘crowd of arsenal Israel’s in are bullets Sponge-tipped July 2014.July https://goo.gl/wVyHBF occupation’, Israeli the and machinery engineering heavy ground: the on ‘Facts Center, Research Profits Who https://goo.gl/xyXTJ2 A/67/379’, Assembly General 1967 UN the Since to Occupied Territories Palestinian the in Rights Human of Situation the on Rapporteur Special the of ‘Report R Falk, www.unispal.un.org , 19 September 2012. , 19 September , 29 December 2016. December , 29

Published: July 2017 War on Want 44-48 Shepherdess Walk Written and researched by London N1 7JP Michael Deas, with additional United Kingdom writing by Dr. Ryvka Barnard Tel: +44 (0)20 7324 5040 Email: [email protected] Cover picture: © EPA / Abed Al Hashlamoun www.waronwant.org Design by www.wave.coop @waronwant Printed on recycled paper /waronwant Registered Charity No. 208724 Company Limited by Guarantee Reg. No. 629916

The contents of the report are the sole responsibility of War on Want.

Charity No. 208724 / Company limited by guarantee Reg No. 629916