The new report claims London Collective Investment Vehicle has $9bn invested in companies enabling Israel’s human rights abuses.
A new report has accused London’s $45.43 billion public sector pension fund of investing billions in companies allegedly complicit in Israel’s human rights abuses against Palestinians.
The Blood Money report, released Thursday by the campaign group Shake The CIV, claims that the London Collective Investment Vehicle (LCIV), which manages billions on behalf of 32 London local authorities, has over $9 billion invested in firms “enabling Israel’s violations of Palestinian human rights.”
The fund represents the deferred wages of around 700,000 Londoners.
According to the report, LCIV’s investments include almost $1.4 billion in arms manufacturers, such as $13 million in Israeli weapons producer Elbit Systems and $305 million in British firm BAE Systems.
The report also highlights $7 billion in technology companies accused of facilitating Israel’s surveillance and control of Palestinians, including over $3.3 billion in Microsoft.
For the first time, the report reveals the names of elected councillors who sit on LCIV’s Shareholder Committee, information the organisation has refused to make public despite multiple Freedom of Information requests.
LCIV, which quietly sold $9 million in Israeli government bonds in 2024, has faced growing protests and says it is reviewing its investments in 12 unnamed companies.
However, the fund has refused to disclose the names of those companies, even to the councillors representing the local authorities whose pension funds it manages.
The report also criticises LCIV for deleting a July 2024 statement on Palestine’s Gaza from its website, later replacing it in July 2025 with a post claiming to be “neutral” on the issue.
Boroughs push to cut controversial holdings
Campaigners say this stance “belies its claims to be a responsible investor,” noting that LCIV took “swift action” over the Russian-Ukraine war but not in response to Israel’s onslaught on Gaza.
Shake The CIV is calling on LCIV to “immediately, completely, and permanently divest from all companies complicit in Israel’s genocide and apartheid against Palestinians.”
Cllr Liam Shrivastava, a member of Lewisham Council’s Pension Committee, said in a statement:
“At stake here are not only the lives of millions of human beings but also local authorities’ right to make democratic decisions about financial matters. In the 1980s, many London councils made history by cutting financial ties with apartheid South Africa and recently, many have divested from fossil fuels. Genocide is the crime of crimes. We have to do whatever we can to stop it.”
Five boroughs, Waltham Forest, Islington, Tower Hamlets, Southwark and Lewisham, have announced plans to divest following local campaigns. — Anadolu Agency
