Example: Settlements and Baillie Gifford
For over 70 years the Israeli state has violated Palestinians’ basic human rights. One way it does this is by building illegal settlements on Palestinian land. These settlements have been well-documented – sadly meaning that their existence is no longer considered newsworthy.
But when campaigners started accusing the investment management company Baillie Gifford of being linked to settlements, they generated a lot of new attention and brought the issue of settlements back into public attention.
In 2023, Scotland-based investment firm Baillie Gifford was listed as one of the top 50 European investors in illegal Israeli settlements, in a report by the human rights coalition Don’t Buy into Occupation. It was found to have investments in companies linked to the Israeli state and illegal settlements, including a travel company, construction company, and US tech company that has Israeli subsidiaries.
Over 200 authors, from Naomi Klein to Sally Rooney, signed a statement by the collective of literary industry workers Fossil Free Books (FFB) demanding that Baillie Gifford cease its investments in fossil fuels and companies that profit from "Israeli apartheid, occupation and genocide" and calling for a boycott of the company until it did so.
As a result of this, the firm was dropped as a sponsor by multiple arts and literary events in May 2024, including the Hay Festival and Edinburgh International Book Festival. Sponsorship of book festivals in Borders, Wimbledon, Cheltenham, Cambridge, Stratford, Wigtown, and Henley was cancelled by Ballie Gifford following protests.
This boycott generated a vast amount of news articles, all of which highlighted the issue of settlements.
Baillie Gifford responded to say that it's misleading to say it's invested in the Occupied Palestinian Territories, and says it is a business "managing other people's money, not our own".
Read our guide to Ethical Investment Funds.