Caterpillar disinvestment move hailed
11 February 2009
Investors urged to follow Church lead
War on Want welcomes the decision by the Church of England to disinvest from Caterpillar. Institutional investors are today urged to follow the Church by disinvesting from a company whose bulldozers have been used to build the Separation Wall and destroy Palestinians' homes.
The call, from the anti-poverty charity War on Want, comes after the Church of England decision to divest £2.2 million from Caterpillar on financial grounds.
Yasmin Khan, senior campaigns officer at War on Want, said: "The Church of England's decision to disinvest from Caterpillar is welcome. It also brings the Church in line with its own ethical investment policy and the decision of the General Synod. Now other institutional investors should take similar action."
War on Want has long called for the Church of England to disinvest from Caterpillar on the grounds of the company's complicity in the violation of Palestinian human rights.
In the report Profiting From the Occupation, the charity attacked Caterpillar over selling bulldozers for the Israeli army to destroy Palestinian homes, schools, orchards and olive groves.
It said that equipment from Caterpillar was also used to construct the Separation Wall, ruled illegal by the International Court of Justice.
And the UN has singled out Caterpillar in particular for its collusion with Israel's human rights abuse.
In 2006 the Church of England General Synod voted to withdraw its investment from Caterpillar. But the Church Commissioners failed to follow the Synod's decision.
After the Israeli onslaught against Gaza in recent weeks, Palestinian civil society groups, including the charity's partner Stop the Wall, have called for an escalation of the boycott, divestment and sanctions campaign against Israel's occupation of the Palestinian territories.
CONTACT: Paul Collins, War on Want media officer (+44) (0)20 7549 0584 or (+44) (0)7983 550728
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