Elbit Systems Arms & Security
Israel's largest weapons firm; drones, mortar ammunition and artillery rockets used in Gaza. Barclays sold its Elbit shares after activist pressure.
Updated October 10, 2026
BDS Divestment Targets: Explainer and Tracker
Divestment means getting banks, pension funds, universities and churches to pull investments out of companies complicit in the occupation. Here is how it works and who the targets are.
What is divestment?
Boycott targets consumers; divestment targets investors. The BDS movement asks institutions to exclude complicit companies from their portfolios, sell any shares they hold, and refuse new contracts. Famous wins include churches, universities and city councils divesting, and Barclays selling its shares in Elbit Systems after sustained activist pressure.
How divestment campaigns work
- Research: document the financial links between an institution and a complicit company, using databases like WhoProfits and AFSC Investigate.
- Organize: build a coalition of students, workers, congregants or customers who have a stake in the institution.
- Demand: call publicly for exclusion or divestment with a clear deadline.
- Escalate: petitions, votes, sit-ins and media pressure until the institution acts.
Current divestment targets
Caterpillar Arms & Security
Supplies the Israeli army with D-9 bulldozers used to demolish Palestinian homes and build the apartheid wall.
JCB Arms & Security
Heavy machinery used in demolition of Palestinian homes and settlement construction.
HD Hyundai Arms & Security
Heavy equipment used in home demolitions and settlement construction in the occupied territories.
Volvo Arms & Security
Heavy machinery used in the occupation and settlement enterprise.
Barclays Finance
Provides billions in investments, loans and services to arms companies supplying Israel; sold its Elbit shares after pressure but remains a divestment target.
Hikvision Tech
Surveillance and facial-recognition technology used to monitor Palestinians.
CAF Arms & Security
Spanish rail firm involved in the Jerusalem light rail project serving illegal settlements.
TKH Security Tech
Security and surveillance technology deployed in the occupied territories.
Divestment wins
- Barclays sold its shares in Elbit Systems after years of activist pressure over the bank's financing of arms companies.
- Puma ended its sponsorship of the Israel Football Association in December 2024 after a global BDS boycott campaign.
- G4S, Veolia and Orange all exited Israeli contracts or relationships after BDS pressure campaigns.
Research the links yourself
WhoProfits documents corporate involvement in the occupation. AFSC Investigate tracks investments in the occupation economy. The UN OHCHR database lists businesses involved in the settlement enterprise.
Frequently asked questions
What is the difference between boycott and divestment?
Boycott is refusing to buy; divestment is refusing to invest. Boycotts are usually individual, divestment campaigns target institutions like pension funds and universities.
Does divestment actually hurt companies?
Divestment works mainly through stigma and political pressure rather than share price: when respected institutions blacklist a company, it raises the cost of complicity and has repeatedly forced exits, as with Barclays and Elbit.
I am not part of an institution. What can I do?
Check where your own pension or bank invests and ask them to exclude complicit companies. You can also join existing divestment campaigns in your city or campus.