CAMPAIGNERS turned out in force to protest over a pension authority holding millions of pounds worth of investments in Israel.
The South Yorkshire Pensions Authority (SYPA) - which previously confirmed it holds almost £5m in investments in the country - was targeted by campaigners from the South Yorkshire Divest for Palestine Campaign who handed in a 7,000-strong petition which urged bosses to pull its cash.
Documents published by Barnsley-based SYPA revealed that part of the fund is with BAE Systems, which manufacture weapons and other military technology that has been used by the Israeli government in Gaza.
The majority of its members’ money is invested in the Border to Coast Pensions Partnership Ltd, a pool that manages funds on behalf of 1.1 million scheme members and 3,100 employers.
Many international financial organisations are moving funds out of Israel due to the ongoing instability, the group said.
Campaigner Tony Nuttall added: “There was a fantastic protest against SYPA continuing to support Israel’s war on Palestine.
“A petition signed by 7,000 people, all either residents of South Yorkshire or members of the pension scheme, was handed in.
“The response of SYPA was that they are not going to divest or develop an ethical investment policy that would exclude funding arms companies and other complicit companies.
“Of the 12 South Yorkshire councillors present, only one, from Sheffield, spoke in support - the other 11 remained silent.
“The conclusion from this must be that our representatives are willing to continue to support Israel’s more than 100 years’ campaign to take over Palestine and kill or eject the Palestinian people.
“But people of conscience will continue to stand up for the right of Palestinians to live free in their own land.
“The campaign to cut all support from this country to the extreme right-wing Israeli government will go on and intensify.”
The SYPA said it ‘fully recognises the importance and sensitivity’ of the matter and that Border to Coast’s policy states that it will not invest in organisations where there is evidence of manufacturing arms for use in active warzones.
SYPA continues to regard the issues concerned with companies operating in the occupied Palestinian territories extremely seriously and will continue to work with Border to Coast and with the Local Authority Pensions Fund Forum to ensure that companies are made aware of these concerns,” a statement said.
“However, the judgement on the level of risk related to individual stocks has to be a judgement for the individual fund manager who is better able to make a judgement on the circumstances of and investment risk associated with the individual company than SYPA.”
