Avon Pension Fund has received questions from interested parties about its investments, particularly those in aerospace and defence industries. Members of the public speaking at the Pension Committee on 13 December also asked about the Fund’s investments in companies whose products are used by the Israeli military.
Speaking about the investments in conflict-affected areas, Councillor Paul Crossley, Chair of Avon Pension Fund Committee said:
War in the Middle East is a tragedy. The Committee’s thoughts are with everyone affected, including people with family in the region. And various campaign groups have asked about Avon Pension Fund’s investments in companies which provide the Israeli military with defence products.
We invest our £6 billion of assets to make pensions affordable for our 140,000 members and their employers. As responsible investors, we also invest to meet our net zero goals, for positive real-world impact, and to address issues such as human rights.
Ongoing conflicts across the world, including in the Middle East, can lead to tragic abuses of human rights.
Through pooled funds managed by Brunel Pension Partnership, Avon Pension Fund has £14m of its £6 billion assets in companies involved in arms manufacturing and servicing*, which primarily supply NATO partners and the UK government.
The Pension Committee will look at the various statements and petitions, as well as the legal and financial position, before considering the issue at a public Committee meeting in early 2025.
*BAe Systems, General Dynamics, Boeing, Northrop Grumman, Rheinmetall, Saab, Thales.
