Which council in London would you expect to have done the most to divest from Gaza,Palestine and Israel? Well in contention is Westminster City Council (WCC) with its £2 billion local government pension found where they have recently agreed to eliminate their exposure to military conflict in Israel, Gaza, and the Occupied Territories
Following the outbreak of military conflicts in the Middle East, and Gaza’s ongoing humanitarian crisis, residents and pension scheme members have asked for clarity regarding Westminster City Council Pension Fund’s exposure to the region, both from a financial risk and a responsible investment perspective. This has meant that over the past year, the Pension Fund Committee has worked with its investment advisers to actively monitor the Fund’s exposure to Israel, Gaza, and the Occupied Territories and explore ways to reduce this exposure.
This has meant over the last year divesting funds from;
- Israel Government bonds
- Two companies based in Israel – Teva Pharmaceuticals Corporate Bonds and Mobileye Global Incorporated equities
As at 30 June 2025, the Westminster Fund has no investment in firms located in Israel, Gaza, and the Occupied Territories now and no exposure to Israeli weapons manufacturers like Elbit Systems.
From 31 March 2026, the tactical management of the Fund, along with investment and divestment decisions will reside with the London CIV (a collective investment vehicle established by the 32 London boroughs) – not the Pension Fund Committee. This is because the Government’s Fit for the Future Pensions Review requires the Westminster City Council Pension Fund is required to transfer all of its assets to the London CIV.
So well done to Labour controlled Westminster Council and l look forward to their leadership on the collective investment vehicle that requires all London Councils legally to be establish together from the 31st of March 2026. As its clear WCC Pension Fund Committee will advocate for the London CIV to enter into investments which align with the Fund’s Responsible Investment Statement above.
Hi Murad, excellent news!! Some are wondering if westminster still holds lockheed Martin and Boeing stocks?
How did you get the info, press release or FOI request?
Many thanks
Press release where they were not keen to publicise this at all!
The Westminster City Council Local Government Pension Scheme (WCC LGPS) has some £10.1 billion invested in companies complicit in breaches of international law and human rights, particularly in the occupied territories and illegal settlements in Palestine. These WCC LGPS investments are mainly in the LGIM Future World Fund. This includes investments in Airbus, BOEING, Caterpillar. Lockheed Martin. Rathyeon Technologies, BAE Systems, which provides weapons systems and components to the Israeli military, and over £2 million in Albermarle which provides white phosphorus to the Israeli military which is used in Gaza. Far from disinvesting, minutes from July 17 show that The Pensions Fund Committee are considering a further increase in LGIM investments.
If the WCC Pension Fund Committee can successfully work with its investment advisers to actively monitor and divest from the very small fund referred to in this article, it should be able to do the same for the LGIM Future World Fund and disinvest from companies that profit from human rights abuses, occupation and genocide.
Viv – lets build on whats been done so far and now push for your suggestion, so WCC do the same with LGIM future World Funds.