Posted on 03/08/2006 6:48:01 PM PST by sionnsar
Divestment activists in the UK were handed a defeat today after the Church of England’s financial advisors voted unanimously to reject the Church’s call to divest from Caterpillar Inc.
The Ethical Investment Advisory Group [EIAG] voted unanimously on March 7 not to divest from Caterpillar, and said it would review the issue “if there are new sales of Caterpillar equipment to the Israeli Defense Forces for use in the demolition of Palestinian houses”.
The recommendation repudiates a February 6 vote by the General Synod, the Church’s parliament, to divest from Caterpillar and other companies whose products are used by the Israeli government in the territories. The vote sparked widespread opprobrium from Jewish and Christian leaders led by the Chief Rabbi of Britain, Jonathan Sacks, and the former Archbishop of Canterbury, Lord Carey, who denounced the divestment vote as feckless and ill-considered.
Traditional Anglican ping, continued in memory of its founder Arlin Adams.
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