British pension funds’ investments in Saudi war on Yemen

This 14 August 2018 video says about itself:

Yemen is this generation’s Vietnam’ – analyst as US bomb pieces found at site of bus airstrike

Thousands gathered in Yemen on Monday to mourn and bury dozens of children killed in a Saudi-led coalition airstrike that hit a school bus. The incident caused outrage and was condemned around the world.

Read more here.

While Dutch pension funds recently stopped investments in nuclear weapons, tobacco and other iffy corporations … there are still problems elsewhere.

By Ceren Sagir in Britain:

Thursday, January 10, 2019

British councils have invested £566m of workers’ pensions in Saudi-linked arms companies

LOCAL authorities have invested £566 million of council workers’ pension funds into arms companies implicated in Saudi Arabia’s military offensive in Yemen.

Council pension funds have sizeable shareholdings in BAE Systems, Airbus, Lockheed Martin, Raytheon and Northrop Grumman, the Guardian revealed.

Lothian (Edinburgh) council has the largest investment in the five companies and manages funds worth £7.8 billion for staff, including Edinburgh city council workers.

Campaign Against Arms Trade’s (CAAT) Andrew Smith said council employees’ retirement funds “should be invested in the public good, not in companies that profit from war and conflict.”

He added: “These aren’t just numbers on a spreadsheet, the weapons these companies are producing have had a devastating impact.”

The five companies are key suppliers to the Saudi military, which is conducting an ongoing campaign in Yemen.

An estimated 60,000 people have been killed since the war began in 2015 and the United Nations has warned that without action, the country could face the worst famine in the world for 100 years.

4 thoughts on “British pension funds’ investments in Saudi war on Yemen

  1. Pingback: ‘Morocco stops helping Trump-Saudi war on Yemen’ | Dear Kitty. Some blog

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.