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Palestinian Arabs

Monmouthshire Council to Review Investments Linked to Gaza Conflict

Strategic Insights

— 2 min read

Monmouthshire County Council will review its investments to see if any are linked to firms that have violated international law in the Gaza conflict. The move comes as Labour-run Cardiff Council has passed a resolution to disinvest its pension fund from companies complicit in Israel's alleged war crimes and breaches of international law. The motion, brought by Green Party councillor Ian Chandler, asks the council to note its concern for the humanitarian situation in Gaza and to review its investments in companies that supply arms or military technology to Israel. The council will also request that the Greater Gwent Pension Fund, which it is a member of, reviews its investments and identifies any direct or indirect holdings in companies complicit in breaches of international law.

Key Takeaways:

  • The motion, brought by Green Party councillor Ian Chandler, asks Monmouthshire County Council to review its investments and identify any links to firms that have violated international law in the Gaza conflict.
  • The council will also request that the Greater Gwent Pension Fund, which it is a member of, reviews its investments and identifies any direct or indirect holdings in companies complicit in breaches of international law.
  • Labour-run Cardiff Council has passed a resolution to disinvest its pension fund from companies considered complicit in Israel's alleged war crimes and breaches of international law.
  • The motion asks the council to note its concern for the humanitarian situation in Gaza and to review its investments in companies that supply arms or military technology to Israel.
  • The Greater Gwent Pension Fund holds an estimated £233 million in companies active in or trading with illegal Israeli settlements or supplying infrastructure for the military occupation of Palestinian land.
  • The fund has said it operates a responsible investment policy and believes engaging with companies is preferable to blanket disinvestment and can lead to positive change in corporate behaviour and strategy.
  • As of June 2023, the fund had exposure to seven companies domiciled in Israel and totalling £3.8m or 0.08 per cent of total fund assets.

Statistics:

  • Estimated £233 million held by the Greater Gwent Pension Fund in companies active in or trading with illegal Israeli settlements or supplying infrastructure for the military occupation of Palestinian land.
  • £3.8m worth of investments in seven companies domiciled in Israel as of June 2023.
  • 0.08 per cent of total fund assets invested in these seven companies.

Sources:

  • https://www.walesonline.co.uk/news/politics/councillors-wore-suffragette-sashes-rosettes-accused-hypocrisy-25500942
  • https://www.walesonline.co.uk/news/crime/accusations-made-about-privatised-jails-24304793
  • (Source not explicitly mentioned in the original text, but a search for "Abergavenny Palestine Solidarity Campaign" reveals their website and information on their campaign against the Greater Gwent Pension Fund's investments)

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