Islington, Lewisham, and Waltham Forest councils have all committed to divesting from arms trade-associated companies.
A campaign urging local councils to withdraw investments from companies linked to the arms trade is gaining momentum and is nearing its fundraising goal of £30,000.
Launched by the Palestine Solidarity Campaign (PSC), the campaign warns that Local Government Pension Scheme funds (LGPS) invest billions in companies which it says are “complicit in Israel’s genocide in Gaza and its illegal occupation of Palestinian land.”
The PSC is currently seeking a formal legal opinion to clarify the responsibilities of LGPS in distancing themselves from firms with ties to the arms trade. This legal perspective will be shared with all Chairs of Pension Committees in England and Wales.
“With this robust legal backing, alongside the tireless campaigning of our local branches, we are confident that we can secure the divestment of billions of pounds away from Israeli genocide and apartheid,” it says.
So far, the campaign has raised over £24,000 towards its £30,000 target.
On October 18, the PSC projected harrowing images from Gaza onto Parliament, urging Keir Starmer not to look away. The following day, they organised a Day of Action for Palestine, calling on Britain to end complicity in what they describe as “genocide in Palestine and military actions in Lebanon.”
Several councils have already taken action. Islington, Lewisham, and Waltham Forest have all committed to divesting from arms trade-associated companies.
In August, the Labour-run Waltham Forest Council announced it was withdrawing its pension investments in firms linked to arms producers.
The council had said that £773,000 of its £1.1bn pension fund “appears to be invested in companies that may derive some element of income from arms.”
The announcement followed pressure from the local campaign group Waltham Forest for a Free Palestine (WF4FP), which had been calling for the council to take action.
Similarly, Islington Council pledged to divest £2.6 million from companies linked to the Israeli occupation, a commitment welcomed by the Islington Palestine Solidarity Campaign.
But the activists warn that more 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 and divest from arms companies,” they said.
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