Waltham Forest Council Withdraws Pension Investments from Arms Trade Firms

Waltham Forest Council in north-east London will withdraw one dollar seven hundred seventy-three thousand from its one dollar one point one billion pension fund invested in firms linked to arms production. The move aligns with the council's updated ethical investment policy and follows advocacy from local and national pro-Palestinian groups. This decision targets not only firms supplying arms to Israel but also those globally.

Waltham Forest Council in north-east London has announced that it will withdraw £773,000 from its £1.1 billion pension fund invested in firms linked to arms production.

The decision was made by the council's pensions committee, chaired by councillor Johar Khan, and aligns with the council's updated 'ethical investment policy.' The local campaign group Waltham Forest for a Free Palestine (WF4FP) has advocated for this move due to the ongoing Israel-Gaza conflict.

This divestment not only targets firms supplying arms to Israel but extends to companies doing so globally.

WF4FP celebrated this decision, and the council aims to encourage other London councils to adopt similar measures through the London Collective Investment Vehicle (LCIV).

National entities like the Palestine Solidarity Campaign (PSC) have also praised the decision, viewing it as a significant breakthrough.

Meanwhile, the UK government is still reviewing its stance on arms exports to Israel amid calls from various campaign groups.