G4S Leaves Israeli Market and Revises UK and US Investment Portfolio

nsnbc : The British security firm G4S announced Thursday that it will sell its Israeli subsidiary within 12 – 14 month as part as its portfolio management program. The company has been under international pressure and scrutiny over its business with Israel and Israeli settlements in occupied Palestinian territories. The company also announced a revision of its investment portfolio in the United Kingdom and the USA.

Activists in Oregon, USA, protesting against G4S unethical business policies. (2014 Photo by rebelmetropolis.org)

Activists in Oregon, USA, protesting against G4S unethical business policies. (2014 Photo by rebelmetropolis.org)

The company’s Israeli subsidiary provides security equipment, control room and surveillance technology to Israeli prisons, checkpoints as well as police and military centres and compounds for $142 per year.

G4S has, among others, been criticized because the equipment and services are used in prisons where Israel holds Palestinian prisoners under indefinite administrative detention, and because the equipment and services are being used in occupied Palestinian territories, including illegal Israeli settlements.

One of the main lobbyists against G4S’s business with Israel and the company’s direct or indirect support of the occupation and of settlements is the international Boycott Divestment Sanctions campaign that has been endorsed by a number of internationally renown dignitaries. Among them is the South African Nobel peace laureate, Archbishop Desmond Tutu.

G4S also announced that it would not prolong or cancel contracts with the United States’ Youth Justice System, as well as with the UK Utility Services and the UK Children’s Services. G4S’s decision to revise its portfolio comes as growing attention about the company’s questionable investment ethics has made it increasingly less attractive for investors, and increasingly controversial as business partner. Human rights activists in the United States protested, among others, against G4S involvement in detainment and deportation centers at the US – Canadian and US – Mexican border where human rights violations had been registered.

F/AK – nsnbc 11.03.2016

Source Article from http://nsnbc.me/2016/03/11/g4s-leaves-israeli-market-and-revises-uk-and-us-investment-portfolio/

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