Copenhagen Municipality considers stopping investments in companies with connections to Israeli settlements. Copenhagen Municipality is planning to divest its investments in companies that have connections to Israeli settlements in the Palestinian territories. Mayor Sophie Hæstorp Andersen (Social Democrats) will present a proposal at an upcoming meeting of the municipality’s finance committee to sell off the municipality’s investments in companies such as Airbnb and Expedia, which are listed on the UN’s list of companies with ties to settlements, including those in the West Bank.
Sophie Hæstorp Andersen wants this list to form the basis for a negative list of companies in which the municipality should not invest. She emphasizes the importance of making responsible and fair investments, pointing out that the situation in Israel and Palestine affects many. “As a major investor, we have a responsibility to help ensure, among other things, human rights. That is why I do not think we should invest in companies involved in illegal settlements,” she says.
According to the UN, Israeli settlements are illegal. Copenhagen Municipality currently has around 6.8 million Danish Kroner invested in companies on the UN list, out of a total portfolio of approximately 16.4 billion Danish Kroner. If the mayor’s proposal garners support, it would not have a significant financial impact on the municipality, but the symbolic value would be significant. “It is a signal to other municipalities that they should do the same, as well as to private companies,” adds Sophie Hæstorp Andersen.
Earlier, the University of Copenhagen (KU) decided to halt investments in companies such as Booking.com and eDreams, also on the UN list. The decision by KU came after protests from students demanding the university divest from companies with connections to Israeli settlements.