Politics
Campaign to urge local councils to divest from arms trade gains momentum
Islington, Lewisham and Waltham Forest councils have all committed to divesting from businesses associated with the arms trade.
A campaign urging local councils to withdraw investment from businesses linked to the arms trade is gaining momentum and closing in on its fundraising target of 30,000.
Launched by the Palestine Solidarity Campaign (PSC), the the campaign warns that Local Government Pension Scheme (LGPS) funds are investing billions in companies they say are complicit in Israel's genocide in Gaza and its illegal occupation of Palestinian land.
The CPS is currently seeking formal legal advice to clarify the responsibilities of the LGPS in distancing itself from businesses linked to the arms trade. This legal perspective will be shared with all pension committee chairs in England and Wales.
With this strong legal support, as well as the tireless campaigning of our locals, we are confident we can secure the divestment of billions of pounds from Israeli genocide and apartheid, he says.
So far, the campaign has raised more than 24,000 people to reach its goal of 30,000 people.
On October 18, the PSC projected heartbreaking images from Gaza onto Parliament, urging Keir Starmer not to look away. The following day, they organized a Day of Action for Palestine, calling on Britain to end its complicity in what they describe as genocide in Palestine and military actions in Lebanon.
Several municipalities have already taken measures. Islington, Lewisham and Waltham Forest have all committed to divesting from businesses associated with the arms trade.
In August, Labour-led Waltham Forest Council announced it was withdrawing its pension investments from companies linked to arms producers.
The council had said that $773,000 of its $1.1 billion pension fund “appears to be invested in companies that may earn part of their revenue from weapons.”
The announcement followed pressure from local campaign group Waltham Forest for a Free Palestine (WF4FP), who called on the council to take action.
Similarly, Islington Council has pledged to divest €2.6 million from businesses linked to the Israeli occupation, a commitment welcomed by the Islington Palestine Solidarity Campaign.
But campaigners warn that further action is needed.
We welcome this decision, but we believe more can be done and we need your help. With the ongoing genocide in Gaza, the Council must disclose information and divest from arms companies, they said.
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