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The Labour leader of Brighton and Hove City Council has urged pension fund bosses to say whether any of their investments are linked to “atrocities taking place in Palestine”.
Bella Sankey has written to Conservative councillor Gerard Fox who chairs the East Sussex Pension Fund Committee to demand clarity on the fund’s investments.
Councillor Sankey said “As a council, we have consistently raised our concerns about the moral abomination taking place in Palestine.
“It is notable that the UN Independent International Commission of Inquiry on the Occupied Palestinian Territory has concluded that Israel has committed genocide against Palestinians.
“Given that, it is vitally important that the East Sussex Pension Fund clarifies whether it has any investments implicated in this disaster.
“Brighton and Hove City Council’s pension investments are managed as part of the East Sussex Pension Fund.
“While the council has representation on the East Sussex Pensions Board, it does not have decision-making authority over the fund’s investment strategy. That responsibility lies with the East Sussex Pensions Committee.”
The letter said: “In July 2022, the East Sussex Pension Fund released a statement in relation to the funds position on Israel and the Occupied Territories (East Sussex Pension Fund Statement on Israel and the Occupied Territories).
“(It) detailed that an assessment was undertaken of the fund’s exposure to companies flagged by the United Nations Human Rights Office of the High Commissioner (OHCHR).
“This included liaising with investment managers who had an exposure to companies within the report to understand the risk to the fund.
“Given that this statement was now made more than three years ago, I would appreciate an update of the fund’s current position.
“The UN Independent International Commission of Inquiry on the Occupied Palestinian Territory has concluded that Israel has committed genocide against Palestinians in the Gaza Strip.
“Given the continued atrocities committed by Israel in Gaza, I would specifically ask does the pension fund currently have any exposure to any companies on the OHCHR list?
“If so, could you provide a list of the exposures including the value and/or proportion of holdings within the fund?
“What is the exit strategy of any exposure to these companies?”
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