The United Nations special rapporteur on the occupied Palestinian territory, Francesca Albanese, called on countries to sever trade and financial ties with Israel, including a full arms embargo, and withdraw international support for what she termed 'an economy of genocide'.
"The situation in the occupied Palestinian territory is apocalyptic," she said. "Israel is responsible for one of the cruellest genocides in modern history."
Albanese made the comments during a speech to the Human Rights Council in Geneva on Thursday while presenting her latest findings, naming dozens of companies she said were involved in supporting Israeli repression and violence towards Palestinians.
The report holds corporate tech giants like Microsoft, Amazon, IBM, Hyundai and Volvo accountable for their complicity in Israel's oppression of Palestinians, from sustaining Israeli expansion on occupied land to enabling the surveillance and killing of Palestinians.
'For some, genocide is profitable'
The report, titled 'From economy of occupation to economy of genocide', called on the international community to hold private sector entities accountable for their complicity in Israel's abuses.
"Far too many corporate entities have profited from Israel's economy of illegal occupation, apartheid and now, genocide," the report reads.
Speaking to reporters in Geneva after her speech, Albanese pointed out that the Tel Aviv Stock Exchange had risen at least 200% in nearly 21 months of war, amassing more than $220 billion in market gains.
"One people enriched, one people erased," she said.
"Clearly, for some, genocide is profitable."
Tech giants enabling automated oppression
The report highlighted the symbiotic relationship between tech giants and Israel, saying "the unique testing ground for military technology offered by the occupied Palestinian territory" had allowed companies like Microsoft, Alphabet and Amazon to explore more avenues for profit.
In turn, "the repression of Palestinians has become progressively automated", the report states, and now stands as an integral part in enabling Israel's mass-surveillance systems.
As examples, it cited Microsoft and IBM.
The former has been active in Israel since 1991, developing its largest centre outside the US.
"Its technologies are embedded in the prison service, police, universities and schools – including in colonies."
Meanwhile, it stated that IBM has been responsible for training military and intelligence personnel, as well as managing a central database storing the biometric data of Palestinians.
Google's stake was also underlined, with the report mentioning, "As Israel's apartheid, military and population-control systems generate increasing volumes of data, its reliance on cloud storage and computing has grown. In 2021, Israel awarded Alphabet Inc (Google) and Amazon.com Inc. a $1.2 billion contract – largely funded by its Ministry of Defense – to provide core tech infrastructure."
It also pointed out the role of heavy machinery companies like the US's Caterpillar Inc, South Korea's Hyundai and Sweden's Volvo Group, who provide equipment linked to the destruction of Palestinian property.
"Colonies spread – financed by banks and insurers, powered by fossil fuels, and normalised by tourism platforms, supermarket chains and academic institutions," said Albanese.
Militarised violence: The 'backbone' of the Israeli state
"Militarised violence created the state of Israel and remains the engine of its settler-colonial project," the report said.
It highlighted Israel's position as the eighth largest arms exporter worldwide between 2020 and 2024, describing the military-industrial complex as "the backbone of the state".
It also said Israel and international weapons manufacturers had come together to "refine technologies that enable Israel to intensify oppression, repression and destruction".
Additionally, Albanese said that arms companies had turned near-record profits by providing Israel with cutting-edge weaponry to unleash 85,000 tonnes of explosives – six times the power of Hiroshima – to devastate Gaza.
As examples, it mentioned Israeli companies Elbit Systems and IAI, both among the top 50 arms manufacturers globally and companies that coordinate closely with the state on military operations.
They have both seen a surge in annual profits due to Israel's ever-increasing outlay on weapons.
"The 65% surge in Israel's military spending from 2023 to 2024 – amounting to $46.5 billion, one of the highest per capita worldwide – generated a sharp surge in their annual profits."
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