A Monmouthshire County Council meeting discussed its own investments in light of a UN inquiry which concluded Israel has committed genocide against Palestinians in Gaza
Campaigners calling for divestment from firms linked to Israel’s war in Gaza picketed a meeting of Monmouthshire County Council where members discussed a motion to review such investments(Image: Local Democracy Reporting Service)
A multi-million-pound pension fund for public servants will be asked to review investments linked to Israel’s war in Gaza. It comes as a United Nations inquiry said Israel committed genocide against Palestinians in Gaza with reasonable grounds to believe that four of the five genocidal acts defined under international law have been carried out since the start of the war with Hamas in 2023.
Monmouthshire County Council members agreed at a meeting on Thursday that it should scrutinise its own investments and take steps to end them if there are any direct or indirect holdings in companies supplying arms, military technology, or logistical support “which enable breaches of international law in Gaza”.
The council will also ask the Greater Gwent Pension Fund, which it a member of and is responsible for investing millions of pounds on behalf of current and retired public sector workers across the area, to do the same.
As of June 2025 the fund reported exposure to seven companies based in Israel, totalling £3.8m or 0.08% of total fund assets, while campaigners estimate it holds £233m in companies active in, or trading with, illegal Israeli settlements or providing infrastructure for the military occupation of Palestinian land.
Green Party councillor Ian Chandler, a member of the council’s Labour-led cabinet, proposed the motion and reminded councillors they had supported an ethical investment policy in 2022 at their suggestion.
The Llantilio Crossenny councillor said: “This is not about foreign policy but the responsibility we hold for how public money is used.”
Cllr Chandler also shared with councillors his experience working with international development charities in the occupied West Bank and Gaza in 2015 and 2016 and his support for Palestinian rights since working in Jordan in 1984.
The meeting was told since the start of the current military action, in response to the Hamas terror attacks on Israel in October 2023, approximately one in every 30 people in Gaza had been killed by Israeli military action. Cllr Chandler, who also “utterly condemned” the Hamas attacks and taking of hostages, described this as “a totally disproportionate, racist, collective punishment”.
Conservative member for Gobion Fawr Alistair Neill acknowledged the opposition group “completely understands the strength of feeling” and recognises the “range of views held by residents on some of the world’s most challenging issues.”
However he suggested the council should concentrate on local matters, citing schools and potholes as examples. For our free daily briefing on the biggest issues facing the nation sign up to the Wales Matters newsletter here.
Cllr Neill stated: “That’s what Monmouthshire residents expect us to be focused on – not United Nations findings. When the UN starts discussing Monmouthshire I will support discussing that.”
Frances Taylor, leader of the Independent group, revealed she had previously sought clarity from the Greater Gwent fund regarding its so-called “responsible” investment policy, as opposed to an “ethical” one, following concerns raised by Amnesty International.
The councillor for Magor West and Undy expressed her frustration at not receiving a response, emphasising that councillors should have a “clear view” of the companies in which the fund is invested.
Armand Watts, member for Bulwark and Thornwell, also voiced his dissatisfaction with the lack of transparency surrounding the fund and its investments. He highlighted that in 2022, it was reported that the Gwent fund had taken a “£137m hit” due to investments linked to Russia, which continued up until the outbreak of the war in Ukraine.
The Labour member argued staff had been “disenfranchised” and left without a say in the fund’s decision-making process. Despite being “completely opposed to war” he considered it wrong to divest from firms involved in Britain’s own national security.
Mary Ann Brocklesby, the council’s Labour leader, expressed her support for the motion, noting the Gwent fund will be amalgamated with all other funds in Wales at the end of the year, providing an opportunity to review its investments.
Before the debate councillors heard from public speaker Peter Short, representing Amnesty International Monmouthshire and the Abergavenny Palestine Solidarity Campaign, who urged them to withdraw investments from companies “complicit” in the war on Gaza and Israel’s occupation of Palestinian land while also requesting the Gwent fund follow suit.
Mr Short identified BAE Systems, General Dynamics, Lockheed Martin, and Rolls-Royce as firms the Gwent fund has stakes in and highlighted that banks Barclays and HSBC, along with well-known brands including Airbnb and McDonald’s, receive pension fund backing and operate in the occupied territories.
The motion received approval and also mandated that a progress update be presented to the council within three months.