LGPS Investments

In April 2020 Palestine Solidarity Campaign defeated the UK government in the Supreme Court, overturning guidance that advised LGPS funds against taking ethical investment decisions that contravened UK government foreign policy, restricting the ability of funds to remove investments from companies complicit in Israel’s violations of international law and Palestinian human rights.

Israel can only maintain its grave breaches of international law and Palestinian human rights because of products, equipment and services it receives from a range of companies and financial institutions. These companies either supply the Israeli military, provide technology and equipment for Israel’s infrastructure of  military occupation, or are active in illegal Israeli settlements, based on stolen Palestinian land.

LGPS funds invest in two ways. Directly by holding shares in specific companies, and indirectly through investment funds, which holds shares on their behalf.

This database produced by Palestine Solidarity Campaign lists the investments of 49 LGPS funds in companies that aid Israel’s breaches of international law. It contains a mixture of direct investments, and investments through funds.

The investments listed below are indicative of the widespread complicity of all LGPS funds. Through our research we have found that the LGPS invests billions in a range of complicit companies. This includes companies listed in the UN Human Rights Office’s list of enterprises active in Israel’s illegal settlements based on stolen Palestinian land.  Given the rigorous engagement the UN OHCHR has undertaken with these companies, this provides a starting point for scheme member campaigning.

The funds included are therefore to be used as examples of the kinds of investments made by the LGPS, and do not indicate that these 49 funds are the most, or only ones, complicit.

Whether your pension fund is listed or not, it is critical that scheme members get active and demand their fund commits to remove all investments funding Israel’s abuses of Palestinian human rights.

Companies on the UN Human Rights Office’s list of companies active in illegal Israeli settlements are marked with an asterisk. While the list is not exhaustive, it provides a good place to begin campaigning, as the UN OHCHR has undertaken rigorous engagement with these companies.

49 local government pension funds have known complicit investments

£3,260,379,817 known complicit investment for all funds

This research has been conducted by Palestine Solidarity Campaign. The database is copyright property of PSC.