Members of Islington’s pension fund are being consulted about plans to end its investments linked to conflict and genocide.
Proposed changes will reduce the fund’s holdings in companies profiting from the Israel-Gaza conflict from 0.1 per cent to zero per cent.
This involves ensuring the fund pulls investment out of companies alleged to breaches of international law and human rights.
“This is a long-delayed but laudable and just move. We should not taint our homes, hands and souls with genocide money,” said Islington resident Hanif Virani.
On March 11, an initial three-week engagement process began with 300 randomly chosen pension fund members, as a precursor to the full six-week consultation planned for May.
The consultation comes less than two months before local elections, in which Labour is predicted to lose seats to the Greens.
Campaigning about the government’s stance on the Israel-Gaza war has been credited as one of the reasons why the Green Party won the Gorton and Denton byelection on February 26.
Paul Convery, Chair of Islington Council’s pension committee, said: “We have taken several steps to extricate the council’s finances from companies that are considered complicit in aiding Israel’s war against Palestinians and one of these is to continue divesting from such companies.”
He added: “The pension fund is preparing to divest all holdings in companies accused by the UN Human Rights Council as economically exploiting the illegal occupation of Palestinian Territories.”
“The council has opposed Israel’s war in Gaza and the continued occupation of the West Bank. The council has publicly called for ceasefire, a release of all hostages and prisoners, and supported calls for an embargo on the sale of offensive weapons for this conflict,” Convery said.
The authority is also planning to formally “twin” with Aizariyeh in East Jersualem. This would be Islington’s first twinning agreement for more than 40 years.
