The Leader of Brighton & Hove City Council has welcomed Government sanctions on trade and action on services with companies operating in illegal West Bank settlements and demanded the East Sussex pension fund linked to council staff pensions move immediately to divest from any companies operating in illegal settlements in the West Bank.
Councillor Bella Sankey has written to the chair of East Sussex Pension Committee following sanctions announced by the government last week.
The government announcement included a UK ban on any import of settlement goods and action on services with companies and individuals operating in illegal settlements.
Councillor Sankey now wants to ensure staff pension fund arrangements accurately reflect that stance.
The East Sussex Pension Committee at East Sussex County Council oversees the pension arrangements for several local authorities, including Brighton & Hove City Council.
Councillor Sankey has contacted its chair, Councillor Georgia Taylor, demanding immediate action to protect the integrity of the pension investments – and to reassure staff and residents the council is not funding or supporting illegal settlements in any way.
She said: “Thanks to work already undertaken, the pension fund has clear visibility of its exposure to companies named on the UN list of entities involved in settlement related activities.
“This puts East Sussex in a stronger position than many funds and means decisive action is both possible and necessary.
“It is imperative that that action is now taken.”
Councillor Sankey’s concern focuses on Border to Coast, which hosts the council’s pension assets. She argued a recent statement issued by Border to Coast in response to the UK sanctions announcement was weak and is asking the pension committee to act.
She said: “The statement was disappointingly non-committal in terms of reviewing exposures, contained no acknowledgement of the UN list, and gave no indication that they intend to strengthen human rights due diligence.
“This simply is not good enough.
“As the investment pool responsible for managing our assets, Border to Coast’s position has direct implications for the ethical standing and long term security of our members’ pensions.”
