Use this link to find out more: @SYDPC | Linktree
We are campaigning against some of the investments in the South Yorkshire Pension Scheme (SYPA). See this article in the Sheffield Star.
This pension fund covers Local Authority workers and retired members in Sheffield, Rotherham, Barnsley and Doncaster. 12 councillors from the South Yorkshire councils sit on the SYPA and make decisions about investments.
It has £11 billion of pension members’ money to invest. 80% of this money goes into a pooled fund of 11 Local Authority Pension Funds which has £64 billion to invest.
Many of these investments are complicit in seriously harming Palestinian people even though the pension fund has a Responsible Investment policy that says ‘do no harm’ !
Some example South Yorkshire Pension Authority and Border to Coast investments include:
● BAE Systems, Britain’s largest and the world’s fourth largest arms producer. Its portfolio includes fighter aircraft, warships, tanks, armoured vehicles, artillery, missiles and small arms ammunition. With Lockheed Martin it producing the US F-35 stealth combat aircraft used extensively in the genocide in Gaza.
● Barclays which invests multiple millions in arms companies. HSBC which has a significant number of shares in the company Caterpillar, who supply the Israeli army with bulldozers which are weaponised and used to demolish Palestinian communities, and then build Israel’s illegal settlements.
● Rolls Royce, a British manufacturer and the world’s 17th largest arms trader. It supplies engines for the US F35 fighter jets which have been used extensively in the bombing of Gaza
● Raytheon produces bunker buster bombs, which have been used by Israel to target civilian homes during its assault on Gaza. Israel’s aerial bombardment and ground invasion of the Gaza Strip in the current genocide led to the deaths of over 44,000 Palestinian civilians, two thirds of them women and children.
● Israeli government bonds that are used to finance the attacks on Gaza and other Israeli companies. Also international companies that actively profit from the illegal settlements such as AirBnB
The South Yorkshire Pensions Divest for Palestine Campaign is pressuring SYPA and Border to Coast to divest from all these companies that are complicit in genocide, occupation and forced displacement of Palestinian people.
The campaign includes:
- A petition aimed at South Yorkshire Pension Authority (link to epetition here)
- Informing South Yorkshire residents and especially pension members about where their money is invested
- Protests outside all the 4 Council meetings and at SYPA and Border to Coast meetings
- Questions asked inside the meetings
- Working with the local authority trade unions especially UNITE, UNISON and GMB
- Letter writing to councillors, especially the 12 that attend SYPA meetings
This campaign is part of a wider national campaign (link to PSC national LGPS Divest website here) in numerous areas which has achieved divestment successes in Bristol, Waltham Forest, Tower Hamlets, Manchester, Islington, University Superannuation Scheme and others.
For information about the campaign and the petition, model motions and letters see our linktree here