‘I don’t want to invest in war’: Greenwich council urged to divest pensions from arms suppliers

Residents and activists have urged their council to divest its pensions fund from arms companies supplying Israel.

Members of Greenwich Palestine Action (GPA) attended an investments and pension panel meeting at Woolwich Town Hall on Monday to air their frustration following a “year of inaction” by the council.

Campaigners allege that £43million of council worker pension fund investments are managed by companies linked to the Israeli army.

One of Greenwich council’s main fund managers is BlackRock, an asset management firm which holds investments in Israel and in arms companies.

A spokesman for Blackrock said the company has investments in companies which “may be linked to Israel” but these are “all controlled by third parties”. 

At the meeting, Tim Parkin, a member of the Greenwich Local Government Pension Scheme, said: “I have moral and ethical concerns about the investments that Greenwich is making with my Pension Fund contributions. 

“In particular, the investments into companies involved in arms companies that are supplying Israel with the arms and munitions Israel is using to kill men, women and children in Gaza.

“I don’t want to invest in war.”

Greenwich resident and GPA member Lubna Speitan also spoke at the meeting. 

She said: “I speak as a Palestinian resident.

“Over 50,000 bodies have been recovered in Gaza, and an estimated 200,000 remain buried under rubble.

“Greenwich residents, including myself, have lost family and friends.

“We invite this council to become one of the first to make complete divestment from Israel’s ongoing genocide.”

At the meeting, the panel agreed to “explore all possibilities” following conversations with residents.

A council spokeswoman said: “We share the deep concern about the ongoing situation in Palestine and Israel, where the devastating loss of life is unimaginable. 

“We respect residents’ rights to express their views on such critical issues and value their continued engagement.

“This is a complex issue, with more than 60 employers and more than 25,000 members in the Greenwich Pension Fund to consider in any actions.

“We remain committed to listening to residents as we move forward.”

The fund is currently engaged in legal correspondence on the matter, the spokeswoman said, which meant that the council could not comment further.

Pictured top: The entrance to Woolwich Town Hall, where Greenwich council hold its meetings (Picture: Joe Coughlan)