DON’T BANK
ON APARTHEID
Don’t Bank on Apartheid is an Aotearoa-based campaign that responds to the call of Palestinian civil society for boycott, divestment and sanctions on Israel until it complies with international law. The campaign is the collective effort of the Palestinian solidarity movement of Aotearoa, co-ordinated by Justice for Palestine.
We know that how companies behave matters to New Zealanders, with a recent Mindful Money report finding that 91% of investors prioritise avoiding companies that violate human rights.
Israel is only able to maintain its apartheid regime against Palestinians and expand its illegal settlements because of material support from the international community, including through unethical investments by New Zealand’s financial institutions.
Mindful Money has calculated that New Zealanders have an estimated $250 million invested in companies that enable the illegal Israeli settlements in Palestine and supply the weapons used by the IOF in Gaza.
who is our current target?
The DBOA campaign was launched in 2024 with a focus on ASB Bank and its KiwiSaver funds invested in Motorola Solutions Inc.
ASB is one of the largest KiwiSaver providers in Aotearoa New Zealand, making investment decisions for 500,000 customers. ASB’s scheme holds $19 million of investments in Motorola Solutions.
Motorola has been supplying the occupation with telecommunications, surveillance and military technology since 1948, and has held numerous exclusive contracts with the Israeli government and IOF to create tech specifically to uphold its apartheid regime. Motorola is included on a United Nations’ list of businesses involved in activities that contribute to Israel’s illegal settlements.
ASB Bank has $14 million of OUR money invested in Motorola. We are calling on ASB to stop knowingly making its customers complicit in apartheid - or risk losing thousands of us to more ethical providers.
We have demanded that ASB divest from Motorola and stop making our KiwiSaver funds complicit in apartheid.
BUT Despite over 8,700 KiwiSaver customers signing the petition for divestment and hundreds of customers switching in a mass divestment that lost ASB over $11.1 million…
ASB is still refusing to divest from Motorola Solutions, and has told customers the case is closed.
what are the next steps?
Thank you to everyone who signed up to the campaign so far – all your emails and calls to ASB are the reason ASB are reviewing their investment.
If you haven’t already - SIGN THE PETITION calling on ASB to divest from Motorola Solutions. And share with everyone you know to sign too.
Since ASB has refused to divest, we are now dialling up the pressure and asking that both ASB KiwiSaver customers AND ASB Banking customers switch their providers (granting this is possible for them).
ASB Kiwisaver customers:
how to switch your kiwisaver
It’s super easy to switch your KiwiSaver provider:
Search the provider/fund you want to switch to
Click on the “join” button
Fill out the online form
And finally… Two bits of admin critical to your switch having an impact:
Once you’ve switched, click the button below to let us know
(if the button doesn’t work for you, then email divest@justiceforpalestine.nz )And then let ASB know you switched via email: vittoria.shortt@asb.co.nz
asbmedia@asb.co.nz
or phone 0800 272 738
who to switch to
Disclaimer: the information provided here is not a recommendation to buy, sell or hold any financial products. This information is not financial advice.
This is our research on the investments of KiwiSaver providers in Israel’s systematic abuses of Palestinian human rights through its illegal occupation and violations of international law in its current war on Gaza.
How to find out where your money is invested
Mindful Money have a tool you can use to check if your KiwiSaver funds are invested ethically here.
Stop Arming Israel has done an analysis of some KiwiSaver investments in Israel here, and the team have also analysed funds’ investments in Motorola and other relevant investments of concern (e.g. Caterpillar).
The results of our analysis
The provider whose current investments and investment policies are least implicated in Israel’s illegal occupation and current war on Gaza is Pathfinder. You’ll find information on what they are about and can switch to them on their website.
Pathfinder has no holdings in any Israeli companies nor Israeli Government bonds. They do not currently have holdings in any of the companies on the UN database of companies involved in the illegal Israeli settlements, which features Motorola Solutions Inc. We note they do have a small investment in HP and in ASB bonds (not KiwiSaver). We have engaged with Pathfinder CEO John Berry and Pathfinder are committed to continuing to be guided by evidence of involvement in illegal activities in the Occupied Territories in their screening.
Don’t Bank on Apartheid is unable to offer certainty that Pathfinder’s investments are 100% ethical. However, we think the fact that they don’t invest in Israeli companies or Government bonds is something other providers should take note on.
ASB Banking Customers:
How to switch your bank
It’s also super easy to switch your bank, granted you do not have a termed loan like a mortgage:
Figure out an alternative bank you’d like to switch to. We recommend steering clear of the ‘big 4’ banks in Aotearoa (ASB, Westpac, ANZ and BNZ).
Contact your bank manager or the ASB customer service number 0800 803 804 to inform them of the fact you will be switching and why.
Once you’ve changed banks, click the button below to let us know
(if the button doesn’t work for you, then email divest@justiceforpalestine.nz )
