Growing pressure is facing the Avon Pension Fund to stop investing in companies which make weapons used by the Israeli military to attack Gaza. Bristol City Council has now passed a motion urging the fund to divest from all arms manufacturers.
The pension fund has £6 billion in assets, £20 million of which is invested in weapons companies used by Israel and firms profiting from illegal Israeli settlements in Palestine, according to campaigners. However so far, legal issues have proved tricky to overcome in divesting this money.
This money is invested for the pensions of people working at over 450 employers, including the council. Adding to the urgent calls to stop investing public money in the arms trade, councillors voted to back the motion during a full council meeting on Tuesday, January 14.
Lama Qidan, whose family lives in Palestine, said: “If you vote against this today, you’ll be signalling your support for genocide and apartheid — which are being facilitated by the £20 million invested in the Avon Pension Fund. You are making us as taxpayers complicit in the direct and intentional targeting of healthcare workers, journalists and innocent civilians.
“So far, Israel has killed 18,000 children – that’s 42 per day. Do not make us complicit in the murder of innocent people. Do not make me complicit in the oppression and murder of my own people. There are reports coming in at the moment of children admitted to hospital with sniper bullets to the head and the chest.”
The Hamas-led health ministry in Gaza is claiming that at least 46,707 Palestinians have been killed by Israel’s military since October 7, 2023. That’s equivalent to one in ten Bristolians killed. The Greens tabled the motion, responding to persistent protests by campaigners at City Hall, which also called for a ceasefire in the ongoing war.
Green Councillor Abdul Malik said: “We cannot turn a blind eye. We cannot be complicit. As councillors, we may not control foreign policy, but we have the power to ensure that Bristol does not profit from the suffering. By divesting from companies complicit in the destruction, we send a message. Our city stands for justice. It stands for peace and the sanctity of all human life.”
The Liberal Democrats amended the motion to widen the calls on the Avon Pension Fund, urging the fund to divest in all arms industries and not just those used by Israel. The amendment also referred to the Hamas attack in October 2023, which the original motion didn’t.
Labour Cllr Zoë Peat said: “I’m patrilineally Jewish. Historically, and still in certain parts of the world, I am Jewish enough to be persecuted. The discourse that surrounds some corners of the internet would have me pitted against my Abrahamic brothers and sisters, and this is something I refuse to engage in.
“People of both Palestinian and Jewish heritage want the same things: a lasting peace where all communities can live together side by side. Instead of being pulled into a debate where I’m forced to support the existence of one people over another, I choose to be pro-people and anti-tyranny.”
The motion was backed by 57 councillors, with six abstaining and none voting against. Conservative Cllr Mark Weston said he abstained, as the motion “lacked balance”, including insufficient mention of Hamas and the Israeli hostages. He said: “Bloodshed has happened on both sides. We can’t forget where this originally began and the plight of the hostages still held.”
The Avon Pension Fund is administered by Bath and North East Somerset Council, and a committee decides how its billions of pounds should be invested. Bristol’s representative on the committee is Green Cllr Fi Hance.
Previously, the fund has said it has heard the calls to divest and is exploring its options. The millions invested in the arms trade are through a passive equity fund, which is aligned to the Paris climate goals. Other local government pension funds have struggled to find alternatives, and a new passive equity fund would need to be set up, which is likely to be costly.