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Scotiabank Reinvests in Genocide!

Also published in Mondoweiss: After slow divestment, Canada’s Scotiabank quietly reinvests in Israel’s genocide – Mondoweiss

For almost two years, activists in Vancouver and across Canada have been out on the streets demanding that Scotiabank divest completely from Israeli company Elbit Systems. Many sectors became involved in the campaign, from solidarity groups to artists, all to demand an end to this unholy alliance of a big bank with an Israeli arms company actively fueling genocide.

It’s been a roller-coast ride of two steps forward, one step back. At the end of 2022, Scotiabank’s 1832 Asset Management Fund owned 5% of Elbit Systems worth almost $500 million US. Since then, it gradually divested much of its shares and at the end of September 2024, it was down to just $118 million.

Like many others, I was encouraged by the strong response from the public, most of whom were horrified when they learnt that their mutual funds or retirement savings might directly be helping to kill Palestinians. There were flash sit-ins inside bank branches, multiple national Days of Action and a highly visible campaign from the arts community that even resulted in the Giller Prize finally dissociating itself from Scotiabank in February 2025.

Their ‘incremental divestment’ was less dramatic than a complete withdrawal of funding all at one time and allowed the bank to even pretend that their decision was based on ‘investment merit’. This strategy, coupled with the Giller Prize victory, eventually led to less public focus on Scotiabank’s complicity with genocide and war crimes in recent months.

However, as soon as Scotiabank felt they were no longer under constant scrutiny, they reversed course and started to quietly reinvest in Elbit. As noted by Canada Palestine Association/CPA in a May 9, 2025 statement: “…the last quarter of 2024 brought the news of a shift in their strategy, as they grabbed more Elbit stock which was valued at the time of reporting to be worth $180 million US. However, Elbit share prices have been on an upward trajectory since late January of this year…”

In fact, 1832 Asset Management’s latest filing for the first quarter of 2025 showed that their Elbit shares were worth $268 million US. This amount actually exceeded the dollar amount of their investment a year ago. Although Elbit stocks are currently dropping, their stock price is still almost double what it was in May of 2024.

The CPA statement went on to conclude: “Although their partial divestments were noteworthy, this simply proves that we can never have faith in multinational corporations to do the ethical thing. War, death and destruction are good for the bottom line! And even though the protests temporarily affected that bottom line, Scotiabank was able to navigate its way out of the public eye…”

Divest the Rest!

But Canadian activists are refusing to be discouraged by this and are regrouping to push the campaign forward with increased momentum. The new website SBFundsGenocide.ca is actively working towards a new day of action on June 14 and are hoping to target as many branches as possible all on the same day. They also just held a nation-wide webinar on May 21 to explain the history of Scotiabank’s complicity, its ups and downs and what needs to happen now.

Elbit management was quick to brag when releasing its 2024 results that: “The Company has secured significant contracts worldwide, with its advanced technologies achieving major successes and milestones alongside investments in R&D and production infrastructure.”

However, their financial reports have also noted that “some of Elbit’s operations have experienced disruptions due to supply chain and operational constraints… increase in transportation costs and delays due to factors such as the Houthi movement attacks on shipping in the Red Sea, material and component shortages, limitations imposed by some countries on exports to Israel and attacks on some of Elbit’s global facilities by anti-Israeli organizations.”

Palestine Action in the UK has shown all of us the way forward with their longevity and consistent direct-action campaigns, no matter the partial victories or the personal costs to their members. Despite arrests, imprisonment and other repressive measures, they have demonstrated that long-term persistence produces results. When we demand complete divestment, we must be ready to fight for that no matter the tactics from Elbit and its investors and no matter how long it takes.

(New article by Marion Kawas)
Cover photo Michael YC Tseng

The “two-state” solution is a vehicle for normalization! It’s past time to call out the PA!

After 18 months of live-streamed genocide, after 18 months of useless Western “ceasefire” promises, we must be clear on the principles of genuine liberation. We must re-assess our tactics and be sure that our solidarity work is actually advancing the interests of the Palestinian people and working towards a future free of Zionist settler colonialism and US imperial meddling.

For some time, we have stated that calling for recognition of THE state of Palestine means nothing more than endorsing Oslo, the corrupt PA and the bankrupt two-state solution. However, Norway has aptly proved our point in its recent move of just such a recognition. Norway officials stated:

‘Norway will continue to support the Palestinian state-building project. We must strengthen the Palestinian Authority under the leadership of Prime Minister Muhammed Mustafa, and we must work for the Palestinian Authority to govern in Gaza following a ceasefire and for there to be one Palestinian government. The goal is to achieve a Palestinian state that is politically cohesive, and that derives from the Palestinian Authority,’ said Mr Eide.

Norway’s official statement also added, while admitting that the two-state solution had achieved nothing for over 30 years:
“We also note current efforts by key Arab countries to facilitate a process towards a two-state solution by establishing an Arab vision for regional peace. Two decisive aspects of the plan are the establishment of a viable Palestinian state and the normalisation of relations between Arab countries and Israel, including recognition of the state of Israel. We support these Arab countries in their attempt to create a more peaceful Middle East.”

So should we conclude that the two-state solution will be flaunted and dragged out until all the major Arab countries have normalized with Israel? At which point, it will most likely be dropped in favour of a more “pragmatic” solution?

Let’s be realistic about our politicians and not waste time on calling for hollow, performative gestures that mean nothing even if they were attainable. Enough of emphasizing the defunct and bankrupt “two-state” solution, and calling for recognition of “the (non-existent) Palestinian state” under the no-authority “Palestinian Authority”. (CPA March 2025)

It is past time to call out the PA!

We refuse to be part of any effort to legitimize the bankrupt and collaborationist Palestine Authority PA. The recent speech by Mahmoud Abbas simply showed that the PA is a stooge for the Israeli-US designs in the region. As the PA cannot or will not confront Israeli oppression in its own areas, it has no legitimacy in lecturing other Palestinian resistance groups that are daring to still struggle.

This is what Abbas said on April 23, 2025 and it is worth noting that his comments reflect the identical sentiment coming from many of the dictatorial Arab regimes.

Highlighting and promoting the “tw0-state” demand is both dangerous and misleading. This flawed strategy does not benefit the long-term interests of the Palestinian people; rather it simply gives cover to the US-Israeli aggression and facilitates the continued dispossession of the Palestinians along with increased normalization.

Those Complicit in Genocide will be held Accountable!

#IVotePalestine 2025

As the federal election goes into final week frenzy, here is the wrap-up report for our campaign demanding to know if politicians stand for justice or for genocide. The paucity of progressive and principled clarity in this election cycle was appalling. We sent our questionnaire to all the major parties for their official response and were not surprised that most refused to answer. We were asking multiple tough questions about Zionism, genocide, the sham “terrorist list” and accountability – issues most politicians in Canada are not willing to touch. The noticeable exception was the Communist Party who did send an encouraging response that we highlighted in our third release.

We should mention the recent position of the NDP, especially in the debates where their leader Jagmeet Singh emphasized that the word genocide must be used to describe what is happening in Gaza. As Yves Engler pointed out: “...the electoral calculation has finally become clear to him and the party. Better late than never and everyone campaigning against genocide deserve praise.”

We remain skeptical of the NDP’s intentions, and question if their new-found “passion for Palestine” will continue (although we fervently wish it would). In 2019, the NDP sent positive answers to the first #IVotePalestine campaign, and then two months later, Jagmeet Singh proceeded to backtrack in a roundtable with CIJA.

We stated in the introduction to our 2025 questionnaire:

“We do not believe that any single election in Canada will substantially change policy on Palestine, but we do see the educational value in bringing these issues to the public and highlighting the overwhelming Canadian complicity in genocide. Yes, go to candidates in your riding and raise these crucial points, but also stay focused on organizing in our communities, on grassroots activism and on stepping up direct action campaigns going forward.”

On March 21, 2025, even before the election was called, we noted: “Engaging in electoral politics must not mean advocating for watered-down compromised demands. Make our demands count…for Palestine, for return, for liberation.
From the river to the sea, Palestine will be free!”

Full info here: Demand to know where politicians stand – for justice or for genocide! – Canada Palestine Association

All Out for Palestinian Prisoners Day

April 17 is Palestinian Prisoners’ day, a day when the people of Palestine call upon the world to commemorate and uplift their people, apprehended by the Zionist entity and the cowardly, comprador Palestinian Authority; many of these prisoners are leaders in Palestinian society and in the righteous resistance.

#PalestinianPrisonersDay: Ansar and the Israeli Jailer – Canada Palestine Association

#IVotePalestine #IVoteAgainstGenocide

We are close to halfway through this federal election, and Canadian political leaders have hit a new low in their pro-genocide politicking. Liberal leader Mark Carney and former foreign minister Melanie Joly are refusing to answer about the latest Canadian arms deal for Israel, despite their sham claim of halting arms exports; Conservative leader Pierre Poilievre is revisiting the old refrain of “I’ll move our embassy to Jerusalem”; Yves-Francois Blanchet of the Bloc Quebecois is praising arch-Zionist Irwin Cotler who is supporting one of the BQ’s candidates; and NDP leader Jagmeet Singh has dropped a PR person from his team because she dared (in past social media comments) to compare aspects of the Israeli genocide to Nazi fascism.

Not exactly stellar moments to rally around.

However, so far we have received the encouraging response from the Community Party of Canada to our questionnaire and you can find it below. We shall post others as we receive them.

Response from the Communist Party of Canada

Q- Would your party recognize Israel as an apartheid state that is committing war crimes and genocide against the Palestinian people? And would you call for severing relations with Israel on all levels including diplomatically, economically, politically and militarily?

Increasingly, governments, courts, and people’s movements around the world have begun to characterize Israel as an apartheid state which has committed war crimes as part of the genocidal Zionist project against the Palestinian people for decades. The Communist Party of Canada shares this view, which we have stated in many news releases and public statements. We have supported the BDS international campaign from the beginning, and we call to break all diplomatic, economic, political and military relations with Israel. All candidates of the Communist Party support this viewpoint, and intend to raise this issue at every possible opportunity in this federal election, challenging other parties to do likewise.

Q- Do you support laying charges in Canadian and international courts against all those who are complicit in the Israeli genocide including former Prime Minister Trudeau and his cabinet, Canadians who joined the IDF and participated in the genocide and Zionists who were advocating for and supporting this genocide? Also, would you support arresting Benjamin Netanyahu and Yoav Gallant if they enter Canada and hand them over to the International Criminal Court (ICC)?

Absolutely, we believe that those in political office who are complicit in the genocidal Israeli regime’s actions against the Palestinian people are guilty of serious crimes against humanity. This also applies to Canadians who volunteered to join the IDF, and the Zionist supporters in this country who openly support genocide. Legal action should be taken against these individuals. Similarly, Netanyahu and Gallant should be banned from entering Canada; if they do enter this country, they should be arrested and turned over to the ICC to be tried on charges of committing war crimes and genocide.

Q- For violating the terms of its admittance to the UN, would you call and support the expulsion of Israel from the UN?

Yes. By breaking its promises to accept the obligations required by the UN Charter, and by denying exiled Palestinians the unfettered right of return to their orignal homes, Israel has repudiated its right to membership in the United Nations. Israel should be expelled from the UN, and if our Party was part of a Canadian goverment, we would advocate strongly to vote in support of such an expulsion.

Q- Would you recognize the Palestinian resistance organizations as a national liberation movement struggling against settler colonialism and occupation? Would you support scrapping the terror list due to its deep flaws? Would you condemn the listing of Samidoun as a politically motivated act, aimed at targeting all advocates of Palestinian human and national rights?

Yes, the various Palestinian resistance organizations lead a national liberation movement struggling to overcome settler colonialism and occupation imposed by imperialism. In principle, we have always opposed the very existence of the Canadian government’s so-called Terrorist List, which is a continuation of past policies, such as the labelling by previous Canadian governments of the African National Congress as so-called “terrorists.” This list of course does not include the worst terrorist state on the planet – the USA itself, which uses a vast array of military, espionage and terrorist bodies to deploy against countries and governments which speak out against the actions of US imperialism. The listing of Samidoun is part of this “list” is simply an attempt to intimate and silence critics of pro-Zionist Canadian and US foreign policies. The list must be abolished, and the attempts to suppress Samidoun must be ended immediately.

Q- Would you recognize Zionism as a supremacist settler colonialist movement, that can only survive with the support of western imperialist powers as proven by recent developments?

Yes, this is increasingly true. International public opinion has overwhelmingly turned against the Israeli apartheid regime, which has elevated Zionist settler supremacism to the status of official state ideology. The only basis of support for the Israeli regime comes from western imperialist powers such as Canada. This support must be opposed at every step, including in Parliament, where the racist ideology of hatred is rarely challenged.