Birmingham Council Approves Review of Israel-Linked Investments

Birmingham City Council has approved a motion for a six-month review of financial links to Israel, including investments held by the council and the West Midlands Pension Fund. The review is to consider possible engagement, exclusion or divestment, subject to legal requirements and investment responsibilities; the vote did not itself authorize divestment. The motion was brought forward by councillors Nosheen Khalid and Jamil Khan. It asks the council to examine relevant holdings and calls on its representative on the pension fund committee to raise the matter and seek consideration of the investments, including indirect holdings through pooled investment vehicles and external asset managers. The motion also calls for scrutiny of the council’s procurement, banking arrangements and commercial dealings. The review’s findings, including which holdings may be implicated and what action could lawfully follow, have not yet been determined. UK Lawyers for Israel warned that politically motivated divestment could breach legal duties. The group said pension-fund decisions must serve members and beneficiaries and urged the council to consider its equality obligations and the effects on...