University set to pull $163 million from defense and tech companies following anti-Israel protests
San Francisco State University announced plans last week to withdraw its investments from four companies operating in Israel following months of discussions with pro-Palestinian student activists.
The decision came after protests organized by Students for Gaza SFSU, demanding the school divest from companies tied to Israel.
The university agreed to sell $163 million of investments in “aerospace and defense company Lockheed Martin, stock positions in Italian defense company Leonardo, and U.S.-based data analysis enterprise Palantir Technologies,” according to NBC Bay Area.
The activists celebrated the divestment at a rally of over 100 students last week.
“By standing with us, we were able to be the first university that was able to divest from major weapons manufacturers Lockheed Martin, Caterpillar, Palantir and Leonardo,” a student named Adeel announced at the rally.
Students for Gaza SFSU also celebrated the move in an Instagram post on Aug. 27.
“Through the work of the many students involved in GUPS (General Union of Palestine Students) at SFSU and SFG (Students for Gaza), we have been able to successfully ensure our money is not funding GENOCIDE ‼️” the caption reads.
The university held a negotiation session with students in May as a result of the demonstrations. The students peacefully disassembled their encampments with the expectation that talks would continue throughout the summer, ABC 7 News reported.
Students for Gaza met with SFSU faculty and administrators via Zoom over the summer to negotiate the agreement.
The student activists suggested that the school revise its investment policy to “strive not to invest in companies that consistently, knowingly and directly facilitate or enable severe violations of international law and human rights,” NBC Bay Area reported.
The school will also cut ties with Caterpillar, a construction equipment manufacturer that pro-Palestinian activists claim makes weapons used by Israel.
In addition, the university’s investment policy will now ban investments in companies that profit from weapons manufacturing.
“The results of this plan will… strengthen the Foundation’s stated commitment to reflect the University’s values… while also increasing transparency around investments,” the San Francisco State University Foundation said in a statement, according to ABC 7 News.
“We have been lauded for being a leader in ESG (environmental, social, and governance) investment before, and with credit to Students for Gaza, our revised policy affirms our leading role in values-driven advising,” the school stated.
Meanwhile, students across the nation have also urged universities to divest from companies connected to Israel.
The University of Michigan’s Central Student Government recently blocked funding to campus groups as part of a strategy to pressure the university to divest from companies connected to Israel. This move came after pro-Palestinian students, under the “Shut It Down” platform, gained control of CSG in the spring elections, as previously reported by The College Fix.
However, UM has since returned student groups’ funding for the fall semester.
Similarly, students at the University of Pennsylvania formed a referendum in support of divestment. But the university’s president announced over the summer that the school has no plans to divest from Israel.
MORE: DePaul students vote to divest from ‘suffering of Palestinians’
IMAGE: NBC Bay Area/Canva Pro
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