Monmouthshire County Council to Review Investments Linked to Israel's War in Gaza

Strategic Insights -

Councillors in Monmouthshire County Council have voted to scrutinise the council's own investments and those of the Greater Gwent Pension Fund, which it is a member of, to identify any direct or indirect holdings in companies supplying arms, military technology, or logistical support that enable breaches of international law in Gaza. The move comes after a United Nations inquiry found that Israel committed genocide against Palestinians in Gaza. As of June 2025, the Greater Gwent Pension Fund reported exposure to seven companies based in Israel, totalling £3.8m or 0.08% of total fund assets. Campaigners estimate that the fund holds £233m in companies active in or trading with illegal Israeli settlements or providing infrastructure for the military occupation of Palestinian land.

Key Takeaways:

  • Monmouthshire County Council has agreed to review its own investments and those of the Greater Gwent Pension Fund to identify any holdings in companies linked to Israel's war in Gaza.
  • The council will investigate companies supplying arms, military technology, or logistical support that enable breaches of international law in Gaza.
  • As of June 2025, the Greater Gwent Pension Fund reported exposure to seven companies based in Israel, worth £3.8m or 0.08% of total fund assets.
  • Campaigners estimate that the fund holds £233m in companies active in or trading with illegal Israeli settlements or providing infrastructure for the military occupation of Palestinian land.
  • Councillors were told that since the start of the current military action, approximately one in every 30 people in Gaza had been killed by Israeli military action.
  • The meeting was also told that the Greater Gwent Pension Fund will be amalgamated with all other funds in Wales at the end of the year, providing an opportunity to review its investments.
  • Green Party councillor Ian Chandler, who proposed the motion, reminded councillors that they had supported an ethical investment policy in 2022 and that this is not about foreign policy but the responsibility they hold for how public money is used.

Statistics:

  • £3.8m: The value of investments in seven companies based in Israel reported by the Greater Gwent Pension Fund in June 2025.
  • 0.08%: The proportion of total fund assets held in companies based in Israel.
  • £233m: The estimated value of investments in companies active in or trading with illegal Israeli settlements or providing infrastructure for the military occupation of Palestinian land.

Sources:

  • Monmouthshire County Council meeting, 2023.
  • United Nations inquiry into Israel's war in Gaza, 2023.
  • Greater Gwent Pension Fund, 2025: "Exposure to seven companies based in Israel, totalling £3.8m or 0.08% of total fund assets".
  • Campaigners' estimate of £233m in investments in companies active in or trading with illegal Israeli settlements or providing infrastructure for the military occupation of Palestinian land.