A number of financial and investment organizations have divested their interests in Elbit.
On September 3, 2009, the Government Pension Fund of Norway’s ethical council decided to sell the fund’s stocks in Elbit due to the company’s supply of surveillance systems for the Israeli West Bank barrier.[22] At a press conference to announce the decision, Minister of Finance Kristin Halvorsen said “We do not wish to fund companies that so directly contribute to violations of international humanitarian law”.[23] The Norwegian Ambassador to Israel, Hans Jacob Biørn Lian, was called to a meeting at the Israeli Foreign Ministry where the decision was protested.[23]
In January 2010, Danske Bank added Elbit to the list of companies that fail its Socially Responsible Investment policy. A bank spokesman noted that it was acting in the interests of its customers by not “placing their money in companies that violate international standards”.[24][25] The Danish financial watchdog DanWatch placed Elbit on its ethical blacklist in 2011.[26] In 2014, one of Denmark’s largest pension fund administrators PKA Ltd announced it will no longer consider investing in Elbit, stating “The ICJ stated that the barrier only serves military purposes and violates Palestinian human rights. Therefore we have looked at whether companies produce custom-designed products to the wall and thus has a particular involvement in repressive activities.”[25]
In March 2010, a Swedish pension fund, not wanting to be associated with companies violating international treaties, boycotted Elbit Systems for its involvement in the construction of Israel’s West Bank barrier wall.[27]
In December 2018, HSBC divested from Elbit[28] following Elbit’s acquisition of IMI Systems. HSBC cited IMI’s manufacturing of cluster bombs, which violated the bank’s ethics policy of not investing in companies linked to the manufacturing or marketing of cluster munition.[29]
In 2019, Axa partially disinvested from Elbit Systems following pressure from the Boycott, Divestment and Sanctions movement.[28][30][31] The move followed several years of campaigning by NGOs, including an April 2018 petition launched by SumOfUs that received 140,000 signatures. Axa “quietly reduce[d]” its investments in Elbit and Israeli banks.[28] Axa remains indirectly invested in Elbit and Israeli banks through a non-controlling interest in its former subsidiary Alliance Bernstein.[28][30]
International activity
Azerbaijan
Israel supplies Azerbaijan advanced military equipment and helps train its army. As a part of the cooperation between the two states, Elbit Systems opened an office in Azerbaijan in 2011, with plans to build a plant for the joint production of unmanned aerial vehicles.[41] In 2023, it was reported that Elbit (along with other Israeli defense manufacturers) had played an extensive role in discreetly arming the Azerbaijani army for the Nagorno-Karabakh conflict[42] that culminated in accusations of an Armenian genocide.[43]
That is a gross understatement of what kind of company Elbit systems is.
https://en.wikipedia.org/wiki/Elbit_Systems