As part of their public commitment, universities should:

1. Adopt an Investment Policy Statement with a commitment to divest from companies that consistently, knowingly, and directly facilitate and enable human rights violations and violations of international law as part of prolonged military occupations, apartheid, and genocide.
2. Commit to a process with a reasonable timeline for implementing the new policy.
3. Report on the implementation periodically to a committee with student, faculty, and community representation.

An ethical Investment Policy Statement is an aspirational document, but it has an immediate impact on public opinion, decision makers, and the corporations highlighted. To implement it, universities should:

1. Sell direct investments in stocks or bonds of companies highlighted for divestment for their ongoing complicity in Israeli human rights violations.
2. Engage with investment managers to identify or create pooled funds that comply with the new policy.
3. Create a process to periodically review investments and better align them with the policy.

This list included publicly traded companies that consistently, knowingly, and directly facilitate and enable human rights violations and violations of international law as part of Israel’s prolonged military occupations, apartheid, and genocide.

Find a 1-page PDF version here.

Companies marked with (*) are specifically complicit in the Gaza genocide.

Weapons Manufacturers

*BAE Systems PLC (LSE: BA.)
*Boeing Co (NYSE: BA)
Cadre Holdings Inc (NYSE: CDRE)
*Colt CZ Group SE (PSE: CZG)
*Elbit Systems Ltd (TASE & NASDAQ: ESLT)
Genasys Inc (NASDAQ: GNSS)
*General Dynamics Corp (NYSE: GD)
*General Electric Co (NYSE: GE)
*L3Harris Technologies Inc (NYSE: LHX)
*Leonardo SpA (MIL: LDO)
*Lockheed Martin Corp (NYSE: LMT)
*Northrop Grumman Corp (NYSE: NOC)
*RENK Group AG (XMUN: R3NK)
*Rolls-Royce Holdings PLC (LSE: RR.)
*RTX Corp (NYSE: RTX)
Sturm Ruger & Co Inc (NYSE: RGR)
*Textron Inc (NYSE: TXT)
*thyssenkrupp AG (ETR: TKA)
 

Other US Companies

*Caterpillar Inc (NYSE: CAT)
Chevron Corp (NYSE: CVX)
Genie Energy Ltd (NYSE: GNE)
Motorola Solutions Inc (NYSE: MSI)
*Palantir Technologies Inc (NYSE: PLTR)
*Valero Energy Corp (NYSE: VLO)
 

Other Non-Israeli Companies

Cemex SAB de CV (MEX: CEMEXCPO)
Alstom SA (PAR: ALO)
Fosun International Ltd (HKG: 656)
Heidelberg Materials AG (ETR: HEI)
Kardan NV (TASE: KRNV-M)
Primo Water Corp (TSX: PRMW)
Shunfeng International Clean Energy Ltd (HKG: 1165)
 

Other Israeli Companies

Alony-Hetz Properties & Investments Ltd (TASE: ALHE)
Amir Marketing & Investments In Agriculture Ltd (TASE: AMRK)
Ashtrom Group Ltd (TASE: ASHG)
B Communications Ltd (TASE: BCOM)
Bank Hapoalim BM (TASE: POLI)
Bank Leumi Le-Israel BM (TASE: LUMI)
Bank of Jerusalem Ltd (TASE: JBNK)
Bezeq The Israeli Telecommunication Corp Ltd (TASE: BEZQ)
C Mer Industries Ltd (TASE: CMER)
Cellcom Israel Ltd (TASE: CEL)
Danya Cebus Ltd (TASE: DNYA)
Delek Group Ltd (TASE: DLEKG)
Delta Galil Industries Ltd (TASE: DELG)
Delta Israel Brands Ltd (TASE: DLTI)
Dor Alon Energy In Israel (TASE: DRAL)
Elco Ltd (TASE: ELCO)
Electra Ltd (TASE: ELTR)
Energix-Renewable Energies Ltd (TASE: ENRG)
Export Investment Corp Ltd (TASE: EXPO)
F I B I Holding Ltd (TASE: FIBIH)
First International Bank of Israel Ltd (TASE: FIBI)
Formula Systems (1985) Ltd (NASDAQ: FORTY)
G1 Secure Solutions Ltd (TASE: GOSS)
Internet Gold-Golden Lines Ltd (TASE: IGLD-M)
Israel Discount Bank Ltd (TASE: DSCT)
Lapidoth Capital Ltd (TASE: LAPD)
Lesico Ltd (TASE: LSCO)
Mega Or Holdings Ltd (TASE: MGOR)
Meshulam Levinstein Contracting & Engineering Ltd (TASE: LEVI)
Mivne Real Estate (K.D) Ltd (TASE: MVNE)
Mizrahi Tefahot Bank Ltd (TASE: MZTF)
Mordechai Aviv Taasiot Beniyah (1973) Ltd (TASE: AVIV)
Oron Group Investments & Holdings Ltd (TASE: ORON)
Partner Communications Co Ltd (NASDAQ: PTNR)
*Paz Oil Co Ltd (TASE: PZOL)
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd (TASE: RMLI)
Rotshtein Realestate Ltd (TASE: ROTS)
Salomon A. Angel Ltd (TASE: ANGL)
Senstar Technologies Corp (NASDAQ: SNT)
Shikun & Binui Ltd (TASE: SKBN)
Shufersal Ltd (TASE: SAE)
Themis GREN Ltd (TASE: TMIS)
Tigbur- Temporary Professional Personnel Ltd (TASE: TIGBUR)
Z M H Hammerman Ltd (TASE: ZMH)

This list represents a subset of our broader divestment list, which we publish on the Investigate website. In addition to the Israeli occupation, Investigate includes companies involved in mass incarceration, border militarization, and immigrant deportation in the U.S.

Our research on corporate involvement in the occupation relies heavily on information published by Who Profits. We conduct our own independent research to supplement and update the information from Who Profits.

We conduct further analysis to create our divestment recommendation, taking into account multiple factors that are explained on the Investigate divestment methodology page. Our divestment criteria include, for example, the degree to which the company is complicit. If the Israeli government buys off-the-shelf non-militarized products and uses them in harmful ways, the company making these products would likely not be on our divestment list. We also factor in the likelihood a company will change its policies and practices, and would not recommend divesting from companies that might change as a result of investor engagement or grassroots campaigns.

You do not need to know what your university is currently invested in to ask it to adopt an ethical investment policy as suggested above.

Learn what you can about the school’s past and current investment policy, and find out what you can about the relevant decision-making bodies and processes, so you can suggest amendments to these policies and structures.

Transparent procedures and periodic public disclosures about the institution’s investments will become important in a later stage, to enable our campus communities to review and monitor the implementation of the new policy.

If you need to scan a mutual fund or a list of holdings for their exposure to companies on the divestment list, you can use the Investigate database and investment scanner.

Contact us if you need any help.

Last updated May 9

Student activism works! Below are divestment wins since January 2024. Many wins from previous years are recorded here.

California Institute of the Arts
May 9
After negotiating with students, CalArts established an Ethical Investment Workgroup, “to better align the Institute’s investments with the intention to divest from any entity directly, consistently, and knowingly involved in violations of human rights or violations of international law, particularly in conflict zones around the world.”

Union Theological Seminary
May 9
After working on this issue since November, 2003, the Seminary Board of Trustees adopted a policy to divest from “companies substantially and intractably benefiting from the war in Palestine,” including both its direct and indirect (commingled/fund) holdings. The Seminary is revising its investment policy statement “to include an overt reference to the Israel-Palestine hostilities, in addition to current robust policies regarding fossil fuels, military weapons, private prisons, etc.”

Trinity College Dublin
May 8
After a 5-day student encampment, the College committed to “complete a divestment from investments in Israeli companies that have activities in the Occupied Palestinian Territory.”

California State University, Sacramento
May 7
After a 9-day student encampment, CSU Sacramento created a policy on socially responsible investment which includes investigating “not having direct investments in corporations and funds that profit from genocide, ethnic cleansing, and activities that violate fundamental human rights.”

State University of New York College of Environmental Science and Forestry
May 6
After negotiating with students and faculty, SUNY ESF College Foundation disclosed that it holds no direct investments in weapons manufacturers. The Foundation's Board of Trustees is in the process of reviewing the College’s investment policy with the goal of creating guidelines for evaluating divestment requests.

University of California, Riverside
May 3
After a 4-day student encampment, UC Riverside committed to gradually disclose all of its investments and to form a task force, including students and faculty, to explore investing “in a manner that will be financially and ethically sound for the university with consideration to the companies involved in arms manufacturing and delivery.”

Goldsmith University of London
May 3
After students occupied a university building, the university agreed to a series of demands, including reviewing and revising its ethical investment policy. The review “will also explore switching to an alternative fund manager on an ethical basis in line with the new investment policy.”

Thompson Rivers University, British Columbia
May 4
After negotiating with students, the university agreed to disclose information about its investments within 30 days and to “review proposals presented by the students related to their desire to see divestment of specific investments.”

Richmond, CA
May 1
Richmond's city council voted to divest from companies "that are involved in Israel's violation of Palestinian rights," in addition to other issues, including prison labor, mass surveillance, and the U.S.-Mexico border.

United Methodist Church
April 30
The General Conference of The United Methodist Church voted to not invest in bonds issued by Israel, Turkey, and Morocco, because these states are “holding subject populations under prolonged military occupation.” This is the first such divestment action by a major Christian denomination, and it follows previous decisions by the Church to divest from G4S, Israeli company Shikun & Binui, and the five largest Israeli banks, because of their “relation to the illegal Israeli settlements and other violations of Palestinian human rights,” as well as the Church’s call for a “global boycott of settlements products.”

Evergreen State College
April 30
Following a week-long student encampment, TESC agreed to establish a task force “charged with proposing revisions to investment policies, including new proposed language on socially responsible investments/divestments,” which will “address divestment from companies that profit from gross human rights violations and/or the occupation of Palestinian territories.”

Brown University
April 30
After a week-long student hunger strike, followed by a week-long student encampment, the university agreed that its Corporation would discuss and vote on divesting from “companies that facilitate the Israeli occupation of Palestinian Territory.”

Northwestern University
April 29
After a 5-day student encampment, the University agreed to a series of steps, including disclosing information about its investments and reestablishing its Advisory Committee on Investment Responsibility, with representation from students, faculty, and staff.

Portland State University
April 26
Following student protests, the university declared it “will pause seeking or accepting any further gifts or grants from the Boeing Company” until further debate within the campus community.

UAW Local 2320
January 27
The National Organization of Legal Services Workers (NOLSW) voted “to investigate whether it holds any Israel bonds or has investments in companies or organizations with ties to Israel and inform NOLSW members of the outcome of this investigation; Divest from all Israel bonds and investments in entities with direct ties to Israel; and as part of regular audits, certify that it continues to not hold such bonds or investments.”

Hayward, CA
January 23
The Hayward City Council voted to divest from four companies -  Caterpillar, Chevron, Hyundai, and Intel - becoming the first city in the U.S. to divest due to concerns over Palestinian rights.