Danish Pension Fund AkademikerPension to Divest from Israeli Assets
The Danish pension fund AkademikerPension announced on Wednesday that it will be withdrawing its investments from Israeli assets, including government-controlled companies. This decision was made in response to the war in Gaza and the expansion of settlements in the West Bank.
This is the latest initiative by a European fund to reduce its investments in Israel, following similar withdrawals by the Norwegian sovereign fund, which manages $2 trillion.
The Danish pension fund, worth 157 billion Danish crowns ($24.77 billion), which manages the retirement funds of Danish teachers and university professors, stated that the conflict is not in line with international humanitarian principles.
Jens Munch Holst, the fund's CEO, told Reuters that "the decision was made after an assessment of Israel's ability to uphold human rights."
Last year, the United Nations' highest court ruled that Israel's occupation of Palestinian territories and the construction of settlements were illegal and that it should withdraw as quickly as possible. Israel rejected the ruling, calling it "fundamentally flawed" and biased.
Key Points:
- AkademikerPension, a Danish pension fund, will divest from Israeli assets
- The decision is in response to the war in Gaza and the expansion of settlements in the West Bank
- The fund manages 157 billion Danish crowns ($24.77 billion) and handles the retirement funds of Danish teachers and university professors
- The Norwegian sovereign fund, which manages $2 trillion, has also made similar withdrawals from Israeli assets
- The United Nations' highest court has ruled that Israel's occupation of Palestinian territories and the construction of settlements are illegal
