Pension committee rejects campaigners’ Israel divestment call
A Shropshire pension fund which invests on behalf of 53,000 public sector workers and retired employees has rejected a call to withdraw investments in companies that work with the government of Israel.
Campaigners Ron and Jane Berry called on the Pensions Committee to support their call to divest in companies “which support Israel’s prolonged genocidal assault on the people of Palestine.”
Their question, read to a meeting of the committee on Friday, June 20, said a non-confrontational ‘soft’ influence on firms is “unlikely to work with companies who knowingly provide finance and materials”.
Campaigners called on the committee to divest “to assert human rights protection” against companies that “supply or support the Israeli government’s assault on the people of Palestine.”
They wanted the committee to recommend that both Shropshire Council and Telford & Wrekin Council call for a halt to investing. Councillors representing both local authorities sit on the committee.
Committee members at the meeting on Friday (June 20) heard that the main duty of the fund is to achieve returns for current and future pensioners.
In 2024 the fund was valued at £2.503 billion and increased by value by more than 12.4 per cent. Its member organisations include schools, academy trusts, and employees and former employees across the local government sector.
A committee officer told the meeting, broadcast on YouTube, that making such a move would not “contribute to the realization” of a cessation of hostilities in the region. Instead the fund works with others to urge companies to adopt strict human rights and conflict assessments.
“Of course we would welcome the cessation of hostilies in the region,” the officer replied to the question.
“We do not consider that divestment on the part of the Shropshire County Pension Fund will contribute to the realization of this ambiton.
“Nor will it contribute to the management of financial risks arising out of the conflict.”
The meeting was told that the fund managers, who can vote at shareholder meetings to influence company policy, would work to support a “robust human rights strategy.”
