After campaigning pressure, the Gates Foundation has sold the bulk of its shares in the world’s largest private military and security company, G4S. Over 100 Palestinian and international organisations, including War on Want, launched a campaign calling on the Gates Foundation to divest its £110m ($167m USD) stake from the company. Thanks to everyone who joined the campaign, signed the petition and participated in protests.
“We are glad the pressure on the Gates Foundation to divest from G4S is starting to work. We urge the Foundation to sell any remaining shares it still holds and release a public statement pledging not to invest in corporations profiting from Israel’s military occupation,” said Rafeef Ziadah, Senior Campaigns Officer at War on Want.
War on Want partner, Addameer Palestinian Prisoner and Human Rights Association added, “we have been arguing that it is completely unacceptable for a charitable foundation to be investing in a company, like G4S, which participates in gross human rights violations against Palestinian political prisoners, including child prisoners. We welcome this step in the right direction.”
The impact of the Gates Foundation, as a major shareholder, divesting the majority of its shares from G4S will be felt within the company. Campaigners will continue to target all G4S shareholders and contracts, especially in the Middle East, until the company can no longer ignore the damage its contract with the Israeli prison services is having on its reputation and profit margin. more