Bedfordshire Pension Fund to seek guidance over companies linked to Israel's actions in Palestine
Campaigners say Bedfordshire Pension Fund could be legally obliged to divest from companies linked to Israel’s actions in Palestine — but the fund argues the issue lies with central government.
At a committee meeting on Tuesday (September 16), chair councillor Doug McMurdo (Bedford Borough Council) read out a letter circulated to councillors which claimed that local government pension scheme (LGPS) funds have a duty under international law to withdraw investments from firms “enabling Israel’s crimes against Palestinians”.
The letter, said to come via a platform organised by the Palestine Solidarity Campaign, accused Israel of breaching “fundamental norms of international law” through its “illegal military occupation of Palestinian land, its imposition of a system of apartheid, and its genocide in Gaza”.
It called on councils to divest pension investments from arms manufacturers supplying Israel, as well as companies involved in the financing, construction or maintenance of settlements on Palestinian land.
Councillor McMurdo added that the fund had also received a separate four-page letter directly from the campaign, which would be made available to members.
In its formal response, given by councillor McMurdo, the Bedfordshire Pension Fund said it was aware of the campaign’s position paper and had contacted the LGPS Scheme Advisory Board (SAB).
“The SAB has recognised that the situation in Gaza is an evolving one and will need to consider whether, and if so what, further advice it would be helpful to provide funds and who would be best placed to provide it,” the response stated.
It added that the SAB would write to the local government minister to seek a government statement on the issues raised.
“These matters of international law are clearly more in the competence of central rather than local government, something which the position paper acknowledges,” the fund concluded.