MONMOUTHSIRE County council will be asked to review if any of its investments are held with firms linked to violations of international law due to Israel’s attacks on Gaza.
Amnesty International has said Israel’s forced displacement of Palestinians within the Gaza Strip violates international law. Israel has also targeted health facilities, including hospitals, in Gaza and admitted killing journalists covering the conflict.
Councillors in Monmouthshire will be asked to note “with grave concern the ongoing humanitarian catastrophe in Gaza and the widespread international calls for an immediate ceasefire” as well as consider how it investments may be linked to the conflict, which escalated following terrorist attacks on Israel on October 7, 2023.
The motion, which will be considered at the county council’s September meeting, also asks councillors to review its own investments and identify any direct or indirect holdings in companies that are supplying arms, military technology, or logistical support which enable breaches of international law in Gaza.
Councillors will also be asked to request the Greater Gwent Pension Fund, which it is a member of and which invests millions of pounds on behalf of current and retired public sector workers, does the same.
The Abergavenny Palestine Solidarity Campaign, citing research by the Palestine Solidarity Campaign, has said through the Wales Pension Partnership the fund holds an estimated £233 million in companies active in or trading with illegal Israeli settlements, or supplying the infrastructure for the military occupation of Palestinian land.
It said investments include with defence firms Lockheed Martin, General Dynamics and Rolls Royce as well as banks HSBC and Barclays which it said are invested in firms supplying Israel with weapons and military technology.
The Greater Gwent Pension Fund has said it doesn’t dispute holding investments in those five companies, through the partnership, but said it hasn’t verified the £233m figure and is unclear how campaigners have determined if a company is “complicit”.
The fund has said analysis shows it had exposure to seven companies domiciled in Israel as of June 2025, totalling £3.8m or 0.08 per cent of total fund assets.
It has said it operates a responsible investment policy and believes engaging with companies is preferable to blanket disinvestment and can “lead to positive change in corporate behaviour and strategy”.
In July Labour run Cardiff Council passed a resolution that could see it become the first local authority in Wales to disinvest its pension fund from companies considered complicit in Israel’s alleged war crimes and breaches of international law
The motion has been brought to Monmouthshire County Council by Green Party councillor Ian Chandler, who is a member of the Labour-led cabinet that leads the authority.
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