Veolia pulls out of Israel

Palestinian civil society activists have heralded the decision by French corporate giant Veolia to sell off nearly all of its business activity in Israel as a huge victory for the global Boycott, Divestment and Sanctions (BDS) movement. The sale follows a worldwide campaign against the company’s role in illegal Israeli settlements that cost the firm billions of dollars of lost contracts.

 

The boycott Veolia campaign was launched in Bilbao, the Basque Country, in November 2008, to pressure the company to end its involvement in illegal Israeli projects that serve settlements in the occupied Palestinian territory (OPT).

 

​Under BDS pressure, Veolia has failed to win massive contracts with local authorities across Europe​,​ the US​ and Kuwait​​. City councils across Europe have passed resolutions ​excluding the firm from ​tenders ​due to its involvement in Israeli human rights violations.

 

Veolia executives have admitted that the campaign has cost the company “important contracts”, and financial analysts have repeatedly spoken about the financial cost of the campaign to Veolia.

 

Veolia has now reported that the sale of its water, waste and energy contracts to Oaktree Capital, a Los Angles based investment firm, has been completed, leaving its stake in the ​illegal ​Jerusalem Light Rail as its only business interest in Israel.

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