Step by step, the BDS movement inexorably marches on. Now the news has just come down that PGGM, the largest pension fund management company in the Netherlands, has decided to withdraw all its investments from Israel’s five largest banks (Bank Hapoalim, Bank Leumi, Bank Mizrahi-Tefahot, the First International Bank of Israel and Israel Discount Bank) because they have branches in the West Bank and/or are involved in financing construction in the settlements.
I’m struck that whenever we hear this kind of news, BDS opponents invariably claim that this is “one isolated incident” that will not have any real effect or influence. But of course, this is not one isolated incident – it is but a part of a growing pattern occurring throughout the world. This latest news is but one more indication that the BDS movement is quickly gaining momentum.
And there is every indication that Israel’s leaders understand this. In the wake of the PGGM decision, Knesset member and Bayit Hayehudi party chairwoman Ayelet Shaked called for an Israeli response to the BDS movement, adding that “it was the greatest threat faced by the country.”
I’m also struck by one paragraph from the Ha’aretz report on the PGGM move:
The Israeli banks responded that Israeli law doesn’t allow them to cease providing service to entities connected to the settlements. Nor, given the daily reality in which the banks operate, would this even be feasible, they added.
This is an enormously telling comment – particularly as a response to those who advocate for BDS within the Occupied Territories only but not in Israel proper. Perhaps the most prominent advocate of this approach is Peter Beinart, who has long spoken of a difference between “Good Israel” and “Bad Israel:”
(We) should call the West Bank “nondemocratic Israel.” The phrase suggests that there are today two Israels: a flawed but genuine democracy within the green line and an ethnically-based nondemocracy beyond it. It counters efforts by Israel’s leaders to use the legitimacy of democratic Israel to legitimize the occupation and by Israel’s adversaries to use the illegitimacy of the occupation to delegitimize democratic Israel.
Having made that rhetorical distinction, American Jews should seek every opportunity to reinforce it. We should lobby to exclude settler-produced goods from America’s free-trade deal with Israel. We should push to end Internal Revenue Service policies that allow Americans to make tax-deductible gifts to settler charities. Every time an American newspaper calls Israel a democracy, we should urge it to include the caveat: only within the green line.
But a settlement boycott is not enough. It must be paired with an equally vigorous embrace of democratic Israel. We should spend money we’re not spending on settler goods on those produced within the green line. We should oppose efforts to divest from all Israeli companies with the same intensity with which we support efforts to divest from companies in the settlements: call it Zionist B.D.S.
This is, of course, an utterly artificial distinction, as the recent comment by the Israeli banks makes clear. The “daily reality” is that the Occupation is facilitated and fed by Israel itself. They are, quite simply, inseparable from one another – as Israel’s own economic establishment openly admits.
As the BDS movement inevitably amasses more gains, we will likely hear louder and and louder calls to “take this threat seriously.” But I believe the inexorable growth of this movement suggests something more fundamental: the world is increasingly taking Israel’s oppression of Palestinians seriously.