Palestine Solidarity Campaign (PSC) has released updated research revealing that local government pensions scheme (LGPS) funds, administered by local councils across Britain, invest over £12 billion in companies enabling Israel’s genocide, military occupation, and apartheid against Palestinians.
LGPS: funnelling money to Israel
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 £450 million 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 £90 million 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 £4.7 billion, 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 £28 million in Israel government bonds, therefore lending Israel money to carry out its atrocities.
Divestment must happen
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.
Lewis Backon, campaigns officer at Palestine Solidarity Campaign, said:
The scale of LGPS fund investments in companies that are complicit in Israel’s grave abuses of Palestinian rights is shocking. The deferred wages of millions of local government workers are going into companies enabling Israel’s war crimes, without their consent. But workers and residents are making it increasingly clear that they won’t accept their pension funds being used to fund companies complicit in genocide and apartheid.
We’re only one month into 2025 but already Tower Hamlets Council has committed to divest from arms companies, while Bristol City Council has voted to call on Avon Pension Fund to divest from companies enabling Israel’s crimes. This year will see the LGPS Divest campaign grow as a force for justice for Palestine – divestment from Israel’s crimes is a moral and legal imperative that cannot be ignored.
You can search your local authority here.
Featured image via the Canary
