Barclays: Banking on Apartheid

Research released by Palestine Solidarity Campaign, War on Want, and Campaign Against Arms Trade, has identified that Barclays invests over £1 billion, and provides over £3 billion in loans and underwriting, to nine companies whose weapons, components, and military technology have been used in Israel’s armed violence against Palestinians.

By providing investment and financial services to these arms companies Barclays is facilitating and profiting from Israel’s militarised repression, which sustains its apartheid rule over Palestinians.

Write to Barclays to demand it commits to end all business relationships with the nine companies identified in the report, to avoid further complicity in Israel’s violations of international law and Palestinian rights.

Chairman of Barclays Group Board

Barclays UK CEO

Barclays Group CEO

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I am extremely concerned by research <a href="https://www.palestinecampaign.org/barclays-banking-on-apartheid/">released by</a> Palestine Solidarity Campaign, War on Want, and Campaign Against Arms Trade, that has identified that Barclays invests over £1 billion, and provides over £3 billion in loans and underwriting, to nine companies whose weapons, components, and military technology have been used in Israel’s armed violence against Palestinians.  
By providing investment and financial services to these arms companies, Barclays is facilitating, and profiting from Israel’s militarised repression, which sustains its apartheid rule over Palestinians. 
I am therefore demanding that Barclays publicly commits to end all business relationships with the nine companies identified in the report, to avoid further complicity in Israel’s violations of international law and Palestinian rights.  
One of the nine companies identified is Elbit Systems. It supplies 85% of UAV’s (drones) used by the Israeli army. During Israel’s deadly bombardment and ground invasion of the besieged Gaza Strip in 2014, a range of Elbit Systems produced weaponry, including drones, was used by Israel. The 51 day attack killed over 2,200 Palestinians, 551 of them children. Elbit Systems’ components are also found in Israel’s F-16 and F-35 fighter jets, used in repeated attacks on the Gaza Strip. In addition, Elbit Systems is also associated with the production of banned cluster munitions, which are banned under international law.  
Because of involvement in the production of weaponry used in human rights abuses other financial institutions have severed ties with Elbit Systems. In November 2019 KLP, Norway’s largest pension scheme, published a position paper outlining that Elbit Systems was excluded from its portfolio, stating that “it is clear that the company produces cluster munitions.” Moreover, in January 2022, Australia’s Future Fund banned investment in Elbit Systems due to its involvement in the production of cluster munitions, and other weaponry used in violations of international law. 
Elbit Systems is just one of nine companies identified in the research. Barclays also invests in General Dynamics, which provides gun systems to fighter jets used by Israel in its deadly bombardment of the Gaza Strip, and Caterpillar, which provides Israel with bulldozers which are weaponised and used to demolish Palestinian homes, schools, and other civilian infrastructure, in violation of international law. 
Barclays has a responsibility to take steps to ensure that it is not involved in violations of international law. The <a href="https://www.ohchr.org/sites/default/files/documents/publications/guidingprinciplesbusinesshr_en.pdf">UN Guiding Principles of Business and Human Rights</a> are clear that businesses and financial institutions must take active steps to “avoid causing or contributing to adverse human rights impacts” through both their direct activity, and business relationships. 
In the Barclays Group’s own <a href="https://home.barclays/content/dam/home-barclays/documents/citizenship/our-reporting-and-policy-positions/policy-positions/Barclays-Statement-on-Human-Rights-2016.pdf">human rights statement</a>, Barclays commits to “not participate in the condoning of human rights violations” and to be a “positive role model through the conduct of our business globally.”  Moreover, in its <a href="https://home.barclays/content/dam/home-barclays/documents/citizenship/our-reporting-and-policy-positions/policy-positions/Barclays-Statement-on-the-Defence-Sector.pdf">Defence Sector Policy</a>, Barclays claim that it aims to ensure that defence exports it finances are not used to “support unjustified external aggression.” 
In order to comply with Barclays own policies, it must end investment in, and the provision of financial services to, all companies supplying weapons and military technology used in Israel’s armed violence against Palestinians.  
I expect Barclays to issue a public statement detailing what actions it will take to end its complicity in violence and illegality.

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Barclays: Banking on Apartheid