More than 1,000 people have signed a petition to the council while a protest also took place outside the civic centre this week
A coalition of local pro-Palestine campaign groups is calling on Enfield Council to divest its pension fund from companies it says are linked to Israel’s “war crimes” in Gaza.
More than 1,000 people have signed a petition from Enfield Divest Campaign which cites evidence that the council’s pension fund currently has £53million invested in various companies connected to Israel and the war in the Middle East.
There was also a pro-Palestine protest outside Enfield Civic Centre prior to a council meeting on Wednesday night this week.
Of the £53m figure the Enfield Divest Campaign cites, around £4m is invested in companies directly selling arms to Israel, including BAE Systems and Rolls Royce, while £34m is invested in businesses that are accused of “facilitating” the supply of weapons, such as financial and tech firms, including giants Google and Barclays. Other companies are included for operating within Israel’s illegal occupation of the West Bank and/or East Jerusalem, including Airbnb.
Many tens of thousands of people have been killed in Gaza over the last year since Israel began bombing the Palestinian territory, with the war since expanding into Lebanon. Israel’s attacks have come in response to the Hamas atrocity on 7th October 2023, although the number of Palestinians killed is now vastly higher than the number of Israelis killed by Hamas, leading some to label it as a “genocide”.
Enfield Divest Campaign is a coalition comprised of Enfield Palestine Solidarity Campaign, Enfield Solidarity with Palestine, and Enfield Stop the War. As part of its campaign the groups submitted a Freedom of Information request to Enfield Council to establish how much its pension fund was investing in companies that have been added to its Israel ‘boycott’ list.
Some other councils in London and across the UK have already agreed to divest from such companies.
Rabecca Gooljar, speaking on behalf of Enfield Divest Campaign, said: “Israel’s genocide on Gaza has killed over 42,000 people, injured 93,000, and displaced 90% of the population since 7th October. Shockingly, Enfield Council invests over £53million of its pension fund in companies complicit in these atrocities.
“We demand that Enfield Council fulfils its moral and legal obligations by divesting from companies that support Israel’s war crimes. If councils such as Waltham Forest and Islington can agree to divest, so can Enfield Council. We also call for an immediate ceasefire and for the UK to end its arms trade with Israel.”
Enfield Council leader Ergin Erbil said: “I have been deeply concerned about the ongoing conflict in Gaza-Israel and my heart goes out to all communities in the region who continue to be impacted.
“The Enfield Pension Fund does not hold any shares in companies directly and instead invests into funds which ultimately decide the specific underlying investments. The pension fund will always ensure the fund’s managers, invested in by our pension scheme, operate to high standards and integrate environmental, social and governance (ESG) issues into the investment decision making process.
“The fund asks its investment managers to consider all important financial factors, like corporate governance, environmental, social, and ethical issues, when making their decisions. It expects them to follow good practices and in turn to use their influence as major investors to encourage good practices in the companies and markets they invest in. This is covered in the fund’s responsible investment strategy.
“The majority of the companies invested in by these investment managers, are large multinational companies whose primary activities and business purpose are in sectors such as information technology, consumer staples, healthcare, transport and financial services. The figure discussed includes companies such as Alphabet (Google), Airbnb and Legal General who have broad, worldwide business models.
“The pension fund will continue to monitor the activity of all its investment managers ensuring that ESG factors are incorporated into the investment decision making process.”
Enfield Divest Campaign is urging people to sign its petition, contact their local councillors, and join an upcoming divestment meeting at 7.30pm on Wednesday, 13th November. Anyone wishing to get in touch with the group is asked to email [email protected].
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