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TITLE: Wall Street ignores own rules while investing in arms bound for Israel
https://responsiblestatecraft.org/wall-street-weapons-industry/
EXCERPT: Transparency around the defense industry could reveal uncomfortable truths for Wall Street. Many of the investors in the defense industry claim to adhere to internationally- agreed-upon frameworks such as the Universal Declaration of Human Rights and the U.N. Guiding Principles, which states that businesses should “avoid infringing on the human rights of others and should address adverse human rights impacts with which they are involved.”
For example, State Street is the largest investor in Lockheed Martin with over $16 billion worth of shares. According to its human rights policy, the company “supports fundamental principles of human rights, such as those adopted in the United Nations Universal Declaration of Human Rights.” State Street says its policies are “designed to prevent the illegal use of our products and services, including those that may result in human rights violations.”
Capital Group, which holds at least $13 billion in shares of RTX through different divisions, also endorses the U.N. Declaration of Human Rights and claims to have a “higher level of scrutiny” for businesses that violate the U.N. Global Impact and OECD Guidelines. “We believe that it is important for our portfolio holdings to uphold these fundamental standards in their own operations and throughout their supply chains to maintain their license to operate,” its policy states.
However, the defense companies that these financiers invest in have helped enable Israel’s campaign in Gaza, which the International Court of Justice has suggested could be a genocide. RTX supplies the Israeli military with air-to-surface missiles and cluster bombs, and manufactures engines for the F-15 and F-16 fighter jets that have been used to bomb Gaza. Lockheed Martin provides Israel with hellfire missiles and F-16 and F-35 fighter jets used to bomb Gaza. Missiles manufactured by Lockheed Martin were confirmed to have been used to strike journalists near Shifa Hospital in Gaza City on November 9 of last year. At Lockheed Martin’s annual meeting, also held on May 2nd, CEO Jaimes Taiclet said that the company is planning to deliver 20 F-16s and at least 75 F-35s this year.
Human Rights Watch and Oxfam have documented that “Israeli authorities have carried out indiscriminate and disproportionate attacks in violation of international humanitarian law following the Hamas-led October 7 attacks in Israel,” including collective punishments and depriving civilians of basic necessities. All of this is public knowledge, yet companies like State Street and Capital Group continue to invest.
Shareholders have significant leverage to change company behavior through asset allocation, voting, engagement, and divesting, yet they rarely exercise this influence.
Indeed, during RTX’s earnings call on April 23, no investors asked about potential human rights violations or how these weapons are being used, even though the State Department published its country report on Israel just a day earlier that detailed “arbitrary or unlawful killings” by government agents.
Instead, investors wanted to talk about the $90 billion aid package to Ukraine, Israel, and Taiwan. “Could you speak a little bit to the supplemental that got through the House and how that plays out for your defense business. What goodies are in there for you guys?” asked Ron Epstein, an analyst from Bank of America.
TITLE: Israel dropped US-made bombs on Lebanon medical center: Report
https://thecradle.co/articles-id/24738
EXCERPT: “The Guardian examined the remnants of a 500lb Israeli MPR bomb and a US-manufactured Joint Direction Attack Munition (JDAM) recovered by first responders from the scene of the attack,” the report read, adding that the pictures of shrapnel were verified by Human Rights Watch (HRW) and an independent expert.
Israel attacked the Islamic Medical Association center in the Lebanese village of Al-Habbariyah in late March, leading to the death of seven volunteer paramedics, all aged 18 to 25.
JDAMs, produced by the US Boeing company, are guidance kits that turn the 225–900-kilogram “dumb bombs” that Israel has been using into GPS-guided precision missiles. These are some of Tel Aviv’s most requested munitions from the US.
“Israel’s assurances that it is using US weapons lawfully are not credible. As Israel’s conduct in Gaza and Lebanon continues to violate international law, the Biden administration should immediately suspend arms sales to Israel,” Ramzi Kaiss, Lebanon researcher for HRW, said following the rights group’s investigation.
Amnesty International also said that the US should halt its weapons sales to Israel due to the chance that the latter’s use of these munitions is in “violation of international law.”
Highlighting civilian casualties that came as a result of Israel’s use of US-made JDAMs and Small Diameter Bombs (SDB), Amnesty International says Israel is intentionally using these arms to carry out unjust attacks and kill civilians.
The rights group said civilian casualty incidents “underscore the overall pattern of unlawful attacks by Israeli forces and the extremely high risk that US-made weapons and other materials and services provided to the Israeli government are being used in violation of international law.”
TITLE: U.S. Reportedly Suspended A Weapons Shipment To Israel With Rafah Invasion Imminent
https://www.huffpost.com/entry/us-suspends-weapons-shipment-israel_n_6637d3b4e4b03d2898dd526d
EXCERPT: The U.S. reportedly put a hold last week on a weapons shipment to Israel ― a stunning diplomatic shift as Prime Minister Benjamin Netanyahu prepares to go against the Biden administration’s warnings and move forward with a military invasion of the Gaza city of Rafah.
The alleged pause in large shipment of offensive weapons would appear to be the first instance of the Biden administration withholding U.S.-made arms from Israel since Oct. 7, when Netanyahu launched a military campaign on Gaza in response to an attack by Hamas militants that killed about 1,200 people and took around 250 hostage, roughly 100 of whom are suspected to still be alive in captivity.
The delivery halt was first reported on Sunday by Axios, citing two unnamed Israeli officials who said the incident raised concerns internally, and led officials within Netanyahu’s government to try and figure out why the U.S. was holding the shipment. MSNBC confirmed the halt on Monday, citing two senior Biden administration officials familiar with the decision.
The White House, Pentagon and Israeli government did not immediately respond to HuffPost’s request for confirmation of Axios’ report, while the State Department declined to comment.
SEE ALSO:
US will not support Rafah offensive ‘currently envisioned by Israel’
https://www.timesofisrael.com/liveblog_entry/us-will-not-support-rafah-offensive-currently-envisioned-by-israel/
Israel tells civilians to leave parts of Rafah, cease-fire talks disintegrating
https://www.youtube.com/watch?v=Ff3MCqo4oU0
Rafah Live: Hamas accepted a ceasefire proposal, but Israel said it was unacceptable
https://www.reuters.com/world/middle-east/rafah-live-gazans-start-leaving-parts-southern-city-israel-warns-operation-2024-05-06/
Hamas claims to accept ceasefire; Israeli officials: It’s not the deal we agreed to
https://www.timesofisrael.com/liveblog_entry/us-will-not-support-rafah-offensive-currently-envisioned-by-israel/