Jewish Voice for Peace celebrates divestment of Caterpillar shares from leading US pension fund manager
Caterpillar supplied bulldozers that destroyed arable land, razed Palestinian homes, and killed US activist Rachel Corrie
No 512 Posted by fw, June 26, 2012
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The pension fund giant TIAA-CREF has removed the corporate construction giant Caterpillar from its Social Choice Equity fund following long-term protests by activists for Palestinian rights. The TIAA-CREF and other pension funds have come under pressure to remove Caterpillar over the company’s ties to Israel’s occupation of the West Bank and Gaza Strip. Caterpillar has supplied the bulldozers that have razed thousands of Palestinian homes, destroyed Palestinians’ arable land, and notoriously killed the U.S. activist Rachel Corrie in 2003. The decision removes more than $73 million in pensioners’ money from Caterpillar’s stock. In a statement, the group Jewish Voice for Peace said: “By selling weaponized bulldozers to Israel, Caterpillar is complicit in Israel’s systematic violations of Palestinian human rights. We’re glad to see that the socially responsible investment community … is starting to take appropriate action.”
- Victory! TIAA-CREF drops Caterpillar from Social Choice, Submitted by Jesse Bacon on Thu, 06/21/2012 – “June 21, 2012– Pension fund giant TIAA-CREF has removed Caterpillar, Inc. from its Social Choice Funds portfolio. As of May 1, 2012, financial data posted on TIAA-CREF’s website valued Social Choice Funds shares in Caterpillar at $72,943,861. Today it is zero. “We applaud this decision,” said Rabbi Alissa Wise, Director of Campaigns at Jewish Voice for Peace and National Coordinator of the We Divest Campaign (www.wedivest.org).”
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