Religious Efforts for Peace in the Holy Land

Presbyterian Divestment – Still on the Table

Presbyterian Israel-Palestine Mission Network
Press Release
June 21, 2006

(BIRMINGHAM) June 21, 2006 – The Presbyterian Church (USA)'s 217th General Assembly retained the process known as "phased, selective divestment." The current resolution urges investments "only in peaceful pursuits" in Israel, Gaza, and the West Bank including East Jerusalem; and affirms the "customary corporate engagement process" of the Mission Responsibility Through Investment Committee (MRTI) charged with carrying out General Assembly policy.

Today's decision continues the call to end the illegal Israeli occupation of Palestinian Territories. It further criticizes the separation barrier which "encroaches into Palestinian territory and fails to follow the legally recognized borders of Israel."

Palestinians are facing a humanitarian catastrophe. United Nations reports reveal that 60% of Palestinians are now living in acute poverty and that over half of all Palestinians are completely dependent on food aid. The rise in poverty is a direct result of Israel's policies of occupation. These include road closures, the construction of the separation barrier, checkpoints, and restrictions on the movement of Palestinian commerce in particular food.

Since the 2004 GA, the PC (USA) MRTI committee has focused upon corporations whose profits are derived from the sale of products and services used in illegal activities violating human rights. The church's socially responsible investment policy follows a process of corporate engagement to assure that its investment portfolio is in accordance with the church's social justice policies. After developing criteria specific to the pertinent human rights issues, the process involves four steps: identify target companies; engage management in dialogue, initiate shareholder action, and, if needed as a last resort: recommend divestment to a subsequent General Assembly.

Currently, the MRTI has identified five corporations whose products and services are used to harm civilians: Caterpillar, Motorola, Citigroup, ITT Industries and United Technologies.