A SCOTTISH university has been named as one of "the most financially entangled" institutions in the UK to Israel by a United Nations (UN) report on corporate complicity with Israel’s occupation and the genocide in Gaza.
The UN special rapporteur on Human Rights in the occupied Palestinian territory, Francese Albanese, has published her latest report exploring corporate complicity with the genocide in Gaza
The University of Edinburgh investments are analysed in the report and according to the special rapporteur, they are in violation of international law, human rights and the 1948 Genocide Convention.
The report explains that "many universities have upheld ties with Israel despite the post-October 2023 escalation" and goes on to detail that among the "many British examples," the University of Edinburgh is "among the most financially entangled".
It states: "The University of Edinburgh holds nearly £25.5 million (2.5 per cent of its endowment) in four tech giants – Alphabet, Amazon, Microsoft and IBM314 – central to the Israeli surveillance apparatus and the ongoing Gaza destruction.
"With both direct and indexed investments, the university ranks among the most financially entangled institutions in the United Kingdom of Great Britain and Northern Ireland.
"The university also partners with firms aiding Israeli military operations, including Leonardo S.p.A. and Ben-Gurion University, through the AI and Data Science Lab at Ben Gurion University, sharing research that directly links it with assaults on Palestinians."
"It casts a new light on global crackdowns on campus protesters: shielding Israel and protecting institutional financial interests appears a more probable motivation than fighting alleged antisemitism."
In conclusion, the report states: "While life in Gaza is being obliterated and the West Bank is under escalating assault, this report shows why Israel’s genocide continues: because it is lucrative for many. By shedding light on the political economy of an occupation turned genocidal, the report reveals how the forever-occupation has become the ideal testing ground for arms manufacturers and Big Tech – providing boundless supply and demand, little oversight, and zero accountability – while investors and private and public institutions profit freely.
"Too many influential corporate entities remain inextricably financially bound to Israel’s apartheid and militarism.
"Post-October 2023, when the Israeli defence budget doubled, and at a time of falling demand, production and consumer confidence, an international network of corporations has propped up the Israeli economy. Blackrock and Vanguard rank among the largest investors in arms companies pivotal to Israel’s genocidal arsenal.
"Major global banks have underwritten Israeli treasury bonds, which have bankrolled the devastation, and the largest sovereign wealth and pension funds invested public and private savings in the genocidal economy, all the while claiming to respect ethical guidelines."
'What kind of institution do we want to be?'
A senior lecturer has anonymously spoken to The National about the report, calling out leadership for ignoring staff and students who have highlighted the same concerns as the UN through votes, letters, and encampments on campus.
"It's not just the 'bad' students and staff asking the questions," they said. "For almost two years, the EUSA [Edinburgh University Student Association] team and the academic senate, have been in both in favour of total divestment from the companies mentioned in the report.
"And the main anti-racist networks on campus have asked for divestment based on evidence — part of which was used in the UN special rapporteur’s report."
In May last year, 549 staff at the university signed a letter demanding that the university sever ties with Israel, expressing solidarity with the pro-Palestine student encampment set up on campus grounds.
A number of encampments at the university: multiracial, multi-religious – Palestinians, Jews, and others – have been asking for action, while the university has continuously said it is "reviewing our approach to responsible investments".
The university has already frozen additional purchases of stocks in Amazon and Alphabet—just two of the several companies mentioned in the UN report, but staff say this is not enough.
"That’s a de facto acknowledgment that we are putting money into companies which may be complicit in human rights violations and breaches of international law, including the 1948 Genocide Convention," the lecturer said.
They questioned: "But after that acknowledgment, how can you continue?
"How can you keep money in existing stocks in companies that are directly complicit with war crimes, human rights violations, and violations of the Genocide Convention?
"It doesn't make any sense. If you freeze, you freeze everything. You don't just freeze additional purchases while continuing to profit from existing investments.
"That’s not how business and human rights work."
The lecturer said they wanted to "make clear" that the majority of their colleagues "have expressed support for divestment" because of the evidence in the UN report already.
"When we said it, we were dismissed as partisan," they said. "Now, the UN is saying the same thing.
"So the university has to ask: What kind of institution do we want to be?"
They added: "The university has to decide where it stands. I don’t think our legal services can rubber-stamp dismissals of evidence from key international institutions. At the very least, suspend investments. Say: 'The money smells — we stop until things are clear'.
"Denial of action is denial of genocide. Senior leadership are watching the same Palestinians being killed — it’s on the BBC, it's everywhere. You don’t need to scavenge through social media to know what’s happening.
"So, the choice is clear: Denial and lack of accountability or standing up for international law.
"UN special rapporteurs are the “gold standard” — to use Kofi Annan’s phrase. They are the key independent experts, part of the UN system, working with and for the UN."
A University of Edinburgh spokesperson said: “As a result of an institution-wide consultation inviting input from students and staff, the University has established a Responsible Investment Advisory Group.
"This permanent group, which will include independent and external experts, will inform the University’s approach to responsible investment, carefully considering the diverse perspectives and concerns of our community.
"We unequivocally condemn the violence and suffering resulting from events in Israel and Gaza in recent years. While our commitment as a global institution to act in accordance with our values is unwavering, it is essential that any actions taken are measured, responsible and fully consultive.”
