Retired Archbishop Desmond Tutu wants the world’s third-largest pension fund to divest from three Israeli banks in the name of peace, Reuters reports.

Tutu, former Anglican archbishop of Cape Town and a Nobel Peace Laureate, said in a letter he wants Dutch pension fund ABP to “strike a powerful, non-violent blow for peace in the Middle East.”

The management board for ABP planned to discuss Tutu’s appeal at its monthly meeting Thursday, along with a letter from “Christians for Israel,” a Dutch lobby group that wants the fund to stay vested in Israeli banks, according to an ABP spokeswoman.

ABP has almost 3 million members in the Netherlands and holdings totaling about 51 million euros in three Israeli banks — Bank Hapoalim, Bank Leumi and Mizrahi Tefahot Bank. The pension fund had 309 billion euros ($408 billion) invested worldwide at the end of 2013, Reuters reports.

Tutu said in his letter to the ABP board that the fund’s investments “enable the expansion of Israeli settlements on occupied Palestinian territories, and profit from the illegal seizure of this land.” The letter was also posted on the website of Avaaz, an international lobby group that backs the call for disinvestment, Reuters reports.

Tutu was a champion of South Africa’s struggle for democracy.

“Your Board has a choice — continue to turn a blind eye to the facts and claim ABP investments are somehow ring-fenced from bolstering Israel’s occupation, or join the growing movement towards divestment, which will reduce the company’s risk, respect international law and strike a powerful, non-violent blow for peace in the Middle East,” Tutu said in the letter.

ABP spokeswoman Jos van Dijk said that while the U.N. had criticized Israel’s settlements in occupied Palestinian territories, the world body had not accused the Israeli banks of breaking international laws.

The fund does not invest in countries under U.N. sanction, companies that manufacture cluster-bomb landmines or companies that violate the U.N. Global Compact, an international yardstick for ethical investment, van Dijk said.

“We have strict judicial criteria for disinvesting and many people act out of emotion, which is understandable, because everybody hates war,” she said.

In his letter, Tutu said tens of thousands of Dutch citizens and many pension holders have already asked ABP to divest, along with almost 1.8 million people around the world, Reuters reports.

Tutu’s appeal follows a decision in January by PGGM, another Dutch pension fund, to pull its investments from five Israeli banks, including Bank Hapoalim, Bank Leumi and Mizrahi Tefahot Bank.

In December, Dutch firm Vitens said it would not work with Israeli utility company Mekorot because of its footprint in the occupied West Bank.