Brent Council Pension Fund invests a large portion of the fund through the London Collective Investment Vehicle (LCIV), in common with other London boroughs. The CIV lacks democratic accountability - a situation that will worsen if government plans to merge CIVs into super investment vehicles are enacted.
Local borough divestment campaigns have recognised that as well as lobbying their local pension fund committees to divest they have to unite across London to put pressure on the CIV fund managers.
Shake the CIV write:
On Thurday 3rd July, Shake the CIV – a grassroots coalition of over 30 London-based groups – will protest outside the London Collective Investment Vehicle (CIV) Summer Conference at the Tower of London, demanding an end to the use of council funds to finance companies complicit in Israel’s genocide in Gaza and illegal occupation of Palestine.
Shockingly ahead of the July 3 annual meeting, the London CIV has removed their previous statement of complicit companies from their website. LINK
While Israel continues to rain bombs on innocent civilians, London councillors will gather at a lavish conference to discuss how the funds they manage can be further invested in the companies facilitating the bloodshed in Gaza.
Shake the CIV will greet councillors attending the conference and demand that the over £7 billion of complicit funds the CIV manages immediately divested from arms manufacturers, bonds, and corporations profiting from war crimes and occupation.
The London CIV pools pension funds from all 32 London boroughs. Those funds are currently invested in weapons and technology firms including Elbit Systems, BAE Systems, and Lockheed Martin, all of which supply the Israeli military.
Despite claiming that "responsible investment is not only a moral imperative but an economic necessity," the CIV has failed to take meaningful action to divest from these companies.
Speaking on why they are protesting, campaigner Sarah Omar said:
At a time when councils are strapped for cash, the CIV is splurging on a lavish day out for councillors, complete with a guided tour of the Crown Jewels, the very symbols of colonial plunder that many of these investments sustain.
It’s an insult to Londoners and a betrayal of Palestinians suffering under genocidal companies the CIV continues to bankroll.
We demand the London CIV divests from companies involves in genocide and war crimes, and that our councillors use their decision-making power at the CIV to make this happen.
