July 2025

The Special Rapporteur's report investigates the corporate machinery sustaining the Israeli settler-colonial project of displacement and replacement of Palestinians, highlighting how far too many corporate entities have profited from the Israeli economy of illegal occupation, apartheid, and now genocide. The report asserts that this complicity is "just the tip of the iceberg" and that ending it requires holding the private sector, including its executives, accountable. This is deemed a necessary step to end what the report describes as genocide and dismantle the global system enabling it.

Post-October 2023, corporate actors are described as having contributed to the acceleration of the displacement-replacement process throughout the military campaign in Gaza and the West Bank. The report defines "corporate entities" broadly to include business enterprises, multinational corporations, for-profit and not-for-profit entities, regardless of size, sector, ownership, or structure.

The role of corporate entities in sustaining the illegal Israeli occupation and its ongoing genocidal campaign in Gaza is examined, focusing on how corporate interests underpin the settler-colonial logic of dispossessing and erasing Palestinians. Various sectors are discussed, including arms manufacturers, tech firms, building and construction companies, extractive and service industries, banks, pension funds, insurers, universities, and charities, all of which are stated to enable human rights violations and international crimes.

The report details how various sectors are implicated in this "economy of genocide":

• Displacement:

  • Military Sector: Israeli (Elbit Systems, Israel Aerospace Industries) and international (Lockheed Martin, Leonardo S.p.A.) arms manufacturers and their suppliers (FANUC, A.P. Moller – Maersk) profit from equipping Israel with cutting-edge weaponry used for mass killing and destruction.

  • Surveillance and Carcerality: Tech companies (IBM, Hewlett Packard, Microsoft, Alphabet/Google, Amazon.com – Project Nimbus, Palantir Technologies Inc.) provide dual-use infrastructure and AI systems that automate repression, surveillance, and targeting.

  • Heavy Machinery: Companies like Caterpillar Inc., HD Hyundai, and Volvo Group supply equipment used for mass demolitions of Palestinian homes, infrastructure, and land, effectively "ungrounding" Palestinians.

• Replacement:

  • Construction: Companies like Heidelberg Materials AG and Construcciones Auxiliar de Ferrocarriles contribute to building illegal colonies and their infrastructure. Global real estate groups like Keller Williams Realty LLC facilitate property sales in these colonies.

  • Natural Resources: The Israeli national water company Mekorot and international energy companies (Drummond Company, Inc., Glencore PLC, Chevron Corporation, BP PLC, Petrobras, Paz Retail and Energy Ltd.) control and obstruct Palestinian access to vital resources, fueling both civilian infrastructure and military operations.

  • Trading the Fruits of Illegality: Agribusiness firms (Tnuva, Netafim) profit from land dispossession and exploit captive Palestinian markets. Global logistics (A.P. Moller – Maersk) facilitate trade in illegal colony products, and online travel platforms (Booking Holdings Inc., Airbnb, Inc.) list properties in colonies, normalizing their illegality.

• Enablers:

  • Financial Sector: Major banks (BNP Paribas, Barclays) underwrite Israeli treasury bonds, and asset management firms (Blackrock, Vanguard, PIMCO), insurance companies (Allianz, AXA), and sovereign wealth/pension funds invest billions in companies involved in the occupation and genocide. Faith-based charities also funnel funds to illegal projects.

  • Academic Sector: Universities, particularly in Israel and global-minority countries (e.g., MIT, Technical University of Munich, University of Edinburgh), engage in research and development collaborations with the Israeli military and arms contractors, cultivating State-aligned narratives and producing tools used against Palestinians.

The report concludes that the ongoing genocide is lucrative for many, transforming the "economy of occupation" into an "economy of genocide". It describes this as a "joint criminal enterprise" where corporate activities drive, supply, and enable the genocide. The Special Rapporteur urges Member States to impose sanctions and a full arms embargo on Israel, suspend trade agreements, and enforce accountability. Corporate entities are urged to promptly cease all business activities and relationships linked to violations and pay reparations. The ICC and national judiciaries are urged to investigate and prosecute corporate executives and entities.