HEADQUARTERS
Utrecht, the Netherlands
publicly traded
NO
total assets
£517,872,000
operations
Global: largest influence in Netherlands
financing overview
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climate crisis
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Palestine occupation
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£11,126,888,000
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£1,300,000,000
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Financing the Barossa gas project in Australia which would be the dirtiest this country has seen
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Company highlights and involvement
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company involved
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funding
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climate crisis
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PALESTINE OCCUPATION
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GLENCORE
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£82m
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VITOL
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£0.7bn
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TRANFIGURA
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£0.9bn
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CNH INDUSTRIAL
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£1bn
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TKH GROUP
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£89m
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ISRAEL CHEMICALS
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£32m
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Fossil fuel companies bankrolling the climate crisis
Funded: £82m
Climate Crisis
Glencore, one of the world’s largest mining companies and a leading trader of fossil-fuel commodities, embodies the brutal realities of neocolonial exploitation. Glencore accounts for a significant portion of global coal production, operating mines in countries like Colombia, South Africa, and Australia, while systematically ravaging environments and trampling human rights.
Its operations in the Democratic Republic of Congo (DRC) are a stark example, where investigations revealed years of waste acid discharge from its Luilu copper refinery, causing severe pollution and ongoing spills. Glencore’s denial of responsibility for child labour at its sites, instead blaming impoverished locals, is a cynical attempt to deflect from its own complicity. Further exposing its predatory practices, the Paradise Papers leak unveiled Glencore’s ties to controversial figures who facilitated the acquisition of undervalued mining rights, robbing the DRC of a tenth of its annual budget.
Glencore’s corruption extends across Nigeria, Côte d’Ivoire, and Cameroon, with its former head of oil trading and four executives facing UK bribery charges, including allegations of flying cash bribes on private jets. In South America, its copper mining has poisoned indigenous lands and rivers in Peru, devastating the health and livelihoods of the Quechua and K’ana peoples while denying compensation. The company’s dark history also includes funding state security forces and paramilitary groups in Colombia and the Philippines to intimidate and murder communities resisting its exploitation.
Companies bankrolling THE OCCUPATION OF PALESTINE
Funded: £1BN
palestine occupation
Volvo Group is a Swedish multinational company which manufactures trucks, buses, construction equipment, and marine and industrial engines. Since 2020, Al-Haq reported several instances of Volvo bulldozers being used during unlawful demolitions of Palestinian structures including residential buildings and water structures. In June 2022, Volvo machinery was reportedly used in the raiding and demolishing of residential tents and animal shacks in Al-Fakheet and Al-Markez villages, after the Israeli Supreme Court had ruled in favour of the expulsion of eight villages in the region of Masafer Yatta in May 2022. Volvo heavy-duty machines were also used in 2023 in home demolitions in Palestinian neighbourhoods in the occupied West Bank and East Jerusalem.
Volvo’s importer and distributor in Israel is Mayer Cars and Trucks Ltd, including for bus chassis. Volvo Bus Corporation (26.5%) and Mayer jointly own Merkavim. Merkavim uses Volvo chassis for its armoured Mars buses that are used in services to Israeli settlements. Mayer and Merkavim are included in the updated UN Database (June 2023).
Funded: £32m
palestine occupation
ICL Group is an Israel-based, publicly listed speciality minerals and chemicals company with global operations. It is engaged in various markets, including agriculture, energy, health and personal care, transportation, food, and paints and coatings. ICL’s subsidiary Dead Sea Works (DSW) extracts potash, bromine, sodium chloride (salt), and other minerals from the Dead Sea under a concession that runs until March 31, 2030. The concession covers an area of 652 square meters and allows the company to construct and expand pumping stations, roads, wells, drillings and other facilities in the Dead Sea, including in the northern Basin located in the occupied West Bank. ICL pumps brine from the Northern Basin, where water levels are steadily declining, into evaporation ponds in the Southern Basin. The company states that it accounts for 23%, or 160 million cubic meters, of the Dead Sea’s annual water depletion in the northern basin. In April 2018, the Israeli government approved phosphate mining in two adjacent polygons (Sde Barir and Zohar South) in the Naqab as part of its “National Master Plan for Mining and Quarrying”, as reported by Who Profits. Work would be carried out by Rotem Israel, a subsidiary of ICL. The mining zone is located close to the unrecognized Bedouin villages of Al-Zarura, Ghaza, and Katamat. The implementation of the Sde Barir plan would reportedly involve evacuating 10,000 Bedouin residents from their land. Legal challenges by human rights and environmental groups, as well as the municipality of Arad, were rejected by the Israeli High Court in October 2021. According to Who Profits, the company is lobbying the Israeli authorities to obtain the required approvals and permits to start mining. The timeline for the Barir field site is currently uncertain. In past years, Who Profits documented products manufactured by ICL’s wholly-owned subsidiary, ICL Haifa, in several agricultural settlements in the Jordan Valley in the occupied West Bank. Moreover, ICL Haifa’s customer retention services, which focus on fertilisers and chemicals, include regional agronomists for the Jordan Valley, the occupied Syrian Golan, and the West Bank. ICL Group’s activities are concerning as they are linked to the use of natural resources in the OPT, particularly stone and other minerals, for business purposes and the provision of services and utilities supporting the maintenance and existence of settlements.
Funded: £1BN
palestine occupation
TKH Security Solutions, part of TKH Group, is a Netherlands-based security technology company. As documented by Amnesty International in a 2023 report, the Israeli police has expanded its surveillance system across the Old City of East Jerusalem. A network of cameras supports a facial recognition system, Mabat 2000, which enables Israeli authorities to identify protesters and keep Palestinians under observation. Such systems have extended alongside illegal Israeli settlements that are encroaching into Palestinian neighbourhoods in the Old City and other parts of occupied East Jerusalem. While Amnesty could not confirm with certainty who provides the facial recognition tools, its research identified high-resolution CCTV cameras by TKH Security Solutions in East Jerusalem, which might be connected with the Mabat 2000 system mounted in illegal settlements. Until July 2024, the company had not responded to Amnesty International’s questions about the nature of its products used by Israeli security forces, including any indirect relationships, and its human rights due diligence procedures. The activities of TKH Security are concerning as they may contribute to the surveillance and identification of Palestinians in occupied areas.