Danish tax dollars earmarked for Danish basic research ended up being invested in Israeli weapons.
Back in January this year, Danwatch revealed that the tax-financed state fund, the Danish National Research Foundation, which is supposed to ensure Danish “basic research at an international level”, invested 66 million DKK of its total assets of 4.7 million DKK in 27 weapons manufacturers. Eight of them were weapons suppliers to Israel.
The investment in the world's 6th largest weapons manufacturer BAE Systems in particular caused a stir because the British company supplies the artillery that the Israeli army uses, among other things, to fire phosphorus grenades. This is problematic because their use in densely populated areas is contrary to the laws of war.
Weapons investments divested
Now the case has had consequences. In March this year, Minister of Research Christina Egelund (M) asked for a statement from the Danish National Research Foundation. It has now arrived. and it appears that the foundation has divested its investments in virtually all weapons manufacturers, including BAE Systems, Raytheon Technologies and L3 Harris, which have supplied weapons that have been used against the population in Gaza.
According to Danwatch, the foundation writes in a statement to the minister that “the secretariat is continuously examining how the policy for responsible investments can best be implemented.” The minister now looks forward to following up on this work:
- I expect the foundation to now start considering how it will follow up, and I note that it has sold its shares in a number of companies within arms production and fossil fuels, says Christina Egelund.
Investments in oil and gas companies also dropped
The report and the updated list of investments show that the foundation has not only sold off arms companies. Several oil and gas companies have also been expelled from investments after massive climate criticism from experts in articles in the media Fundats, with which Danwatch has collaborated in the investigation.
- The investments that the Danish National Research Foundation makes must be made within applicable laws and regulations. I am satisfied that the Danish Agency for Higher Education and Science has recommended in its supervision that the Danish National Research Foundation consider changes to the foundation's policy for responsible investments and to the foundation's supervision of its portfolio managers, says Christina Egelund.
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