The train to Israeli divestment

In recent years, investing has gradually become a more moral affair, as shareholders have grown aware of the fact that owning a company stake, however small, brings along a shared responsibility for any illegal or harmful actions. Consequently, they may voice concerns at annual meetings or opt to divest, as French companies Alstom and Veolia Transport (VT) have encountered due to their participation in the Jerusalem light rail project. Formulated in 2000, the project foresees the construction of eight tramways by 2020. A 30-year-BOT contract with a value of some $500 million to construct the first line was awarded to Citypass, a consortium of several Israeli firms, Alstom and VT. Alstom started construction in 2006 and will also supply the carriages, while VT is to operate the line from 2010 onward. As part of the project, in June 2008 the Jerusalem municipality inaugurated the landmark Bridge of Strings, which with