Answers have been given in Reading over a call for the council’s pension scheme to divest from companies that are accused of aiding ‘genocide’ in the Palestinian territories.
A war has been raging between Israeli security forces and Hamas and other Islamic fighting groups in the Palestinian territories since October 2023.
These territories are the Gaza Strip and the West Bank of the River Jordan.
Campaigners throughout the world have accused Israeli security forces of ‘war crimes’.
Locally, campaigners have accused the Berkshire Pension Fund of investing in companies used by Israeli forces.
Questions about fund investments have been put to Reading Borough Council, as it manages the pensions of council and public sector employees.
It comes after raucous scenes at a full council meeting last month, where campaigners were denied permission to ask the questions due to an error.
A push to divest from companies used by Israeli defence and security forces has been ongoing since the start of this year, with Liz Terry (Labour, Coley), the council leader, rebuffing a call to write to Prime Minister Sir Kier Starmer to seek a peaceful resolution to the conflict.
In a question, Sue Sibany-King, the branch secretary of the East Berkshire Solidarity Campaign said: “It was very disappointing to hear cllr Terry refusing the request that she write to the PM, giving her reason that the government is ‘doing what it can to bring about a ceasefire’ when quite clearly our government is still providing diplomatic, economic and military support to Israel, despite the fact that Israel is under investigation by the World Court for plausible genocide, and arrest warrants have been issued by the International Criminal Court for their PM and previous defence minister.”
Warrants have been issued for PM Benjamin Netanyahu and former defence minister Yoav Gallant.
But both men have evaded capture, with PM Netanyahu recently visiting the USA and Hungary.
The fund covers the pensions of public sector workers in Berkshire. It is administered by the Royal Borough of Windsor and Maidenhead, with committee members from all six Berkshire councils.
Mrs Sibany-King asked: “Will you now authorise your representative to the
Berkshire Pension Fund Committee to demand that they begin the divestment
process from companies that profit from Israel’s illegal occupation, as a matter
of urgency? And without any further prevarication, excuses, or delay?”
In her answer, cllr Terry wrote: “The Pension Fund at its meeting on March 17 has already committed to forming a Task & Finish group to review its published Responsible Investment (RI) Policy.
“This review will include consideration of a specific statement in respect
of conflict-affected areas, which is not in the current RI policy, and the Fund’s
approach to new and existing investments in companies with activities in these areas.
“If approved, such restrictions would act as a guide to the fund’s investment pool, Local Pensions Partnership (Investments) Limited (LPPI).
“LGPS funds are not intended to make political, moral, or ethical decisions; their purpose is to pay pensions.
“The flexibility to incorporate non-financial considerations exists but is limited to matters that do not conflict with the underlying return objective.”
She then argued that the review is already being conducted with a public consultation, so no local consultation is required.
Cllr Terry’s written answers were published during the council’s policy committee meeting on April 7.
