The Council in London’s borough of Tower Hamlets has committed to divesting its pension fund from arms companies providing Israel with weapons to continue its genocidal offensive on Gaza, making it the latest local government authority to take measures against Israel’s military Occupation, report Middle East Monitor.
According to a press release by the Palestine Solidarity Campaign (PSC), Tower Hamlets Council held a full council meeting on Wednesday this week, in which it decided – with only one vote against – to pass a motion committing to divest its Local Government Pension Scheme (LGPS) fund from arms companies contributing to Israel’s military and its war crimes in Gaza.
The move was reportedly the result of months of campaigning by the Tower Hamlets Coalition for Ethical Investment, which consists of Tower Hamlets PSC, Tower Hamlets UNISON and Tower Hamlets Trades Council.
Commenting on the decision, the Chair of Tower Hamlets PSC, Sybil Cock, hailed the Council for having “listened to pension scheme members and local residents and committed to divest from companies enabling Israel’s war crimes against Palestinians”.
She added that the local authority “has recognised its duty to cease all financial ties to Israel’s genocide in Gaza, and its unlawful military Occupation, and not to be complicit in the destruction of the planet.”
Kerie Anne, the Branch Secretary of Tower Hamlets UNISON, said it comes as “no surprise that people who dedicate their lives to providing local government and education support services don’t want to see their pension pots invested in death, destruction and mutilation.”
Lewis Backon, PSC’s Campaigns Officer, also called it “a significant victory, as another council recognises its profound moral and legal duty not to be complicit in Israel’s genocide, military Occupation and apartheid against Palestinians. All councils must follow suit – and commit to divest from all companies enabling Israel’s crimes as quickly as possible.”
The MEM report added that the Tower Hamlets Council’s decision makes it the fourth London council to make such a divestment pledge, following on from Waltham Forest Council and Islington Council last July, as well as Lewisham Council in September when its Pension Committee passed a motion stating its intention to “move away” from companies complicit in human rights abuses and the international arms trade.
According to PSC, its research has found that the LGPS funds – managed by local councils across the UK – collectively invest over £4.6 billion ($5.7 billion) in companies that are involved in Israel’s war crimes and violations of international law.
