Latest news about ethical consumerism


 

US church divests pension fund from Israeli banks

Jan 19

Written by:
19/01/2016 10:01  RssIcon

Divestment due to financing "settlement activity"

 


The UMC, a Presbyterian denomination that numbers over seven million members, said it will not invest in the five banks for financing "settlement activity" over the 1949 Armistice lines.
 

Inside United Methodist Church, photo credit: Brian Moran


 

The five banks to be boycotted by the church's pension board are:

  •     Bank Hapoalim,
  •     Bank Leumi,
  •     First International Bank of Israel,
  •     Israel Discount Bank and
  •     Bank Mizrahi-Tefahot.

 

The New York Times reports that the banks were among 39 companies from several countries that have been excluded from the pension board’s portfolio for not meeting its Human Rights Investment Policy guideline.

Colette Nies, a spokeswoman for the pension board, said that the guideline, approved by the board in 2014 and carried out last year, applied to 14 different regions around the world, including the Middle East.

The list also includes an Israeli construction concern, Shikun & Binui, which Palestinian advocates say is heavily involved in settlement building. 
 

Discover more about the global BDS movement in our boycott section.  
 


 

 

 


 

Copyright ©2016

Tags:
Categories:

 

Full News Archive

 

Ethical news archive going back to July 2009.

Read More

Ethical Consumer Blog

Looking 'Beyond the Badge'

  • 24/03/2017 16:07

New campaign to examine the ethical claims of companies and brands

Ethical Consumer Blog

New Internationalist launch crowdfund

  • 16/03/2017 09:42

New Internationalist magazine is looking for investors

Ethical Consumer Blog

Ethical Beauty

  • 15/03/2017 10:02

Five ways to establish an ethical beauty routine, guest blog from Sabai Soaps