Citizen Action Monitor

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

Caterpillar Removed from Pension Fund over Ties to Israeli Occupation, Democracy Now, June 26, 2012

To watch Democracy Now’s video of this story, click on the link below, scroll up to the video window, click on the play control and skip forward to the 9:20-minute mark. A copy of Democracy Now’s transcript follows the video link.

http://www.democracynow.org/2012/6/26/headlines#62611

TRANSCRIPT

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.”

RELATED LINK

  • 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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