Human rights campaigners in Scotland have welcomed a ruling by the UK’s Supreme Court that council pension funds can divest from firms operating in Palestinian territories occupied by Israel. In a landmark verdict, the court ruled in favour of the Palestine Solidarity Campaign (PSC) in a legal case viewed as a major defeat for the UK government. UK ministers wanted to limit the possibility of Local Government Pension Schemes (LGPS) divesting from companies involved in, or profiting from, Israel’s activities in places such as the West Bank. Scottish pension funds had continued to look at investing ethically whilst protecting the financial future of workers. “The huge volatility around carbon-based industries has highlighted the risks these may hold, and the benefits of pension funds looking at diversifying their investments,” he said.
The Ferret 1st May 2020 read more »