New research reveals LGPS funds invest over £12billion in companies enabling Israel’s crimes

• Freedom of information requests have resulted in the most complete picture yet of the investments of 81 out the total of 86 LGPS funds
• Hundreds of millions invested in arms companies supplying Israel with weapons including BAE Systems, Caterpillar, Lockheed Martin and RTX Corporation.
• Local campaigns across Britain are pressuring councils to divest pension funds from companies complicit in Israel’s genocide, military occupation and apartheid.

Palestine Solidarity Campaign (PSC) has released updated research revealing that LGPS funds, administered by local councils across Britain, invest over £12billion in companies enabling Israel’s genocide, military occupation and apartheid against Palestinians.

The research, obtained through Freedom of Information requests, details the investments of 81 LGPS funds in companies which: produce weapons and military technology used in Israel’s attacks on Palestinians; provide services or infrastructure that supports Israel’s unlawful military occupation; or conduct activity in Israel’s illegal settlements on stolen Palestinian land.

Collectively, LGPS funds invest over £450million in BAE Systems, which manufactures components for Israel’s F-15, F-16, and F-35 fighter jets used to bomb Gaza. Over £80million is invested in Caterpillar, which manufactures bulldozers used by Israel to demolish Palestinian homes, schools and hospitals. While over £90million is invested in RTX Corporation, formerly Raytheon, which produces 4000-pound GBU-28 bombs used by the Israeli military.

For the first time, PSC’s research identifies investments in Amazon and Alphabet Inc (Google). This totals £4.7billion, nearly 40% of the value of all investments listed. Both companies work together to provide cloud computing infrastructure to the Israeli military and government, dubbed Project Nimbus. In addition, the research shows LGPS funds hold over £28million in Israel government bonds, therefore lending Israel money to carry out its atrocities.

The new research comes as campaigns calling for the divestment of LGPS funds from companies enabling Israel’s human rights abuses continue to gather momentum. Earlier this month, Tower Hamlets Council passed a motion committing to divest its pension fund from arms companies, following a strong local campaign. While Bristol City Council has called for Avon Pension Fund to divest from arms companies, and companies active in Israel’s illegal settlements.

View the LGPS complicit investment database here.