Islington Council’s pension fund has received strong backing from members for proposals to tighten its human rights investment policy and to consider divesting from companies linked to conflict, genocide and human rights abuses, including a holding in Palantir Technologies.
Consultation shows broad support for ethical changes
The six-week consultation, run by data specialists Prevision, asked pension scheme members their views on three measures: strengthening the fund’s responsible investment statement on human rights; selling holdings in companies listed on the UN High Commissioner for Human Rights’ database of businesses operating in the Occupied Palestinian Territories; and ending the fund’s current holding of roughly £1.4m in Palantir Technologies — a company whose software has been linked to weapons applications and reported uses in the Israel–Palestine conflict.
All three proposals received majority support, with at least 80% of respondents indicating they agreed or strongly agreed with each question. Prevision described the response as 1,343 submissions out of around 22,000 scheme members — a participation level equivalent to a 6.1% response rate.
“For years, we’ve been working to make sure our pension fund leads the way in ethical divestment – we’ve withdrawn investments in arms manufacturers, and have significantly lowered our exposure to companies involved in conflicts,” said Cllr Paul Convery, Islington’s Executive Member for Finance. “We’ve carried out an extensive consultation exercise to understand the views of pension fund members, and many of them have come forward to tell us about the approach they want the fund to take.”
What the results mean for Islington residents
The consultation does not automatically change investments. The council’s officers will now fully analyse the responses and report back ahead of the Pension Fund Committee meeting scheduled for September. Any decision to dispose of holdings would be taken by the committee in line with the fund’s governance and fiduciary duties.
Locally, the outcome signals growing member appetite for investments shaped by human rights considerations. The consultation also highlighted that the fund’s exposure to companies profiting from the Gaza conflict is currently a small share of total assets — around 0.1% — but one members have asked to reduce to zero.
- Consultation period: six weeks, run by Prevision
- Respondents: 1,343 of 22,000 members (6.1%)
- Support level: at least 80% backing for each proposal
Numbers at a glance
| Item | Figure |
|---|---|
| Pension scheme members | ~22,000 |
| Respondents | 1,343 (6.1%) |
| Palantir holding | ~£1.4m |
| Fund exposure to companies profiting from Gaza conflict | ~0.1% of total value |
Islington Council has a record of past divestments, having previously removed investments in arms manufacturers and taken steps to lower exposure to companies involved in conflicts. The current consultation results will now feed into the fund’s next governance discussions, and members can expect a more detailed report and possible recommendations at the September Pension Fund Committee meeting.
For pension scheme members worried about how any changes might affect their retirement savings, the council emphasises that fiduciary responsibilities and investment performance will remain central to any decisions, alongside the strengthened ethical framework under consideration.
