University of Copenhagen to end investments with Israeli Firms
Student protests force Copenhagen University to stop investing in Israeli companies in occupied West Bank The University of Copenhagen on Tuesday disclosed that it will stop its investment in Israeli business ventures that are illegal and have their base in the occupied territories.
For almost four weeks, from mid-May, Black students held demonstrations on the campus, requesting that the university minimise, if not completely sever connections with Israel in terms of funding and cooperation.
Challenge accepted, the university promised to divest somewhere around 1 million Danish crowns, approx $ 145,810 from companies like Airbnb (ABNB.O), Booking.com (BKNG.O), and eDreams (EDRE.MC) starting May 29. These companies appeared in a list of businesses whose activities violate the rules of the UN resolution in relation to the construction of the Israeli settlements in the West Bank.
He said the University of Copenhagen, which has an annual turnover of over 10 billion Danish crowns, has invested some of its money in bonds and shares. In light of the protest, the university said it would consult with fund managers on its ethical investment positions to avoid companies operating in illegal settlements.
As to the background of this decision, it should be mentioned that there are numerous instances of pro-Palestinian activism by students worldwide. The protestors of these movements have stepped up their actions and more videos have been produced in the last two weeks that show protesters being attacked by the police, being beaten and tear-gassed. These images have led to questions on the state of democracy in the Western nations and powers’ funding policies that some consider as demagoguery.
Nonetheless, there has been marked progress in African universities where protests have elicited violent reactions, and some universities have started addressing students’ concerns. For instance, the University of Melbourne in Australia has taken measures to address specific student demands; recently, the university declared its intention to refine its approach to publishing its research grants for projects in the territories occupied by Israel.
On the contrary, some US academic institutions are still facing such problems to a greater extent. The policing of student protest movements has been characterized by the use of force, resulting in increased questions regarding freedom of speech and assembly.
From this understanding, the University of Copenhagen’s decision gives victory to many student activists. It illustrates the increasing consciousness and emerging acceptability of ethical investment activities in universities today. Other institutions may also mimic the same. The more international focus on such issues, the more the institution may decide to ponder the financial and institutional relationships with certain Companies and countries that are engaged in such negative activities.
