Posted on 01/14/2016 8:30:08 AM PST by SeekAndFind
It further notes: "There are specific times, however, when we must recognize that a company is very unlikely -- or unable to -- discontinue activities in certain parts of the world that we have classified as 'high-risk.' When activities in high-risk countries and areas represent a significant part of a company's business, we will avoid investing until the company has changed its business practices. Avoiding such investments supports our commitment to sustainable investing, which we believe ultimately improves the performance of our investment funds."
Israel-Palestine, North Korea and several African and Middle Eastern countries round out a list of 14 nations identified as "high risk" because they "demonstrate a prolonged and systematic pattern of human rights abuses," according to Wespath.
In a statement last Thursday, United Methodist Kairos Response, a group within the United Methodist Church that has been pushing for divestment over the Palestinian issue, said it was "the first time a major church pension fund has acted to preclude investment in Israeli banks that sustain Israel's illegal occupation of Palestinian land."
"We commend the pension fund for taking this significant step in disassociating from the illegal occupation of Palestinian land. But as United Methodist policy opposes the occupation, this is only a first step toward ending our financial complicity in the ongoing oppression of the Palestinian people," UMKR Co-Chair Rev. Michael Yoshii said in the statement.
Wespath removed Bank Hapoalim and Bank Leumi from the Church's portfolios and also divested from Shikun & Binui, an Israeli company involved with construction in the settlements.
"UMKR is pleased to learn of these actions, while noting that Wespath still holds stock in 10 companies located inside the illegal settlements and in several others that lend important support to Israel's occupation," added the statement.
In an interview with CP on Wednesday, Tooley said: "I think that it potentially harms relations between the United Methodist Church and Jewish people and could impair interfaith relationships. But most of all I think it's just unfortunate and embarrassing for the United Methodist Church, of which I am a lifelong member, and shows that we do our political witness very, very poorly and inaccurately." "Although the Christian Church should be outspoken about human rights and religious liberty, we tend to do it in a haphazard and uneven fashion at best."
Tooley explained that while the pension board is saying the decision is simply overall action against a wide variety of companies from different countries based on human rights situations, it is unfair to lump Israel in with countries like North Korea for human rights abuses.
"It is unfair and does not accurately reflect United Methodist policy. Looking at the list of countries that were targeted for human rights abuses, it is pretty ridiculous to include Israel on the same list with North Korea, Saudi Arabia, Sudan, Somalia, Syria. Israel is just about the only functional democracy on the list, so the list itself wasn't put together very thoughtfully," he said.
Tooley also argued that pro-divestment groups like the UMKR, which are portraying the decision as a big anti-Israel move, are exaggerating facts to suit their agenda. He said he did not see any real ramifications for Israel and the Middle East as a result of the decision.
"For Israel, none; and for the Middle East, none. It's all a very small amount of money and I don't think anyone else is going to follow the example," he said.
Prime Minister Benjamin Netanyahu of Israel, who has described the divestment movement as a campaign to destroy Israel, has not yet responded to the decision.
The General Board of Pension and Health Benefits of the United Methodist Church is recognized as the largest faith-based benefit plans administrator and pension fund/investment asset manager in the U.S., and is ranked among the top 100 pension fund managers (based on assets under management) in the country.
I was going to say that that was not a very Christian thing to do....but then I realized the United Methodist Church denomination had left true Christianity long ago.
A church pension fund is $20 Billion????
The United Methodist Church has long ago left all semblance of Christianity with their inability to find abortion and homosexuality explicitly forbidden in the Bible. They join the ranks of the YMCA, Girl Scouts, Boy Scouts, etc., with any kind of holdings of Christian beliefs. I’m disgusted with the whole bunch of them.
UMC is a social club disguised as a church to get the tax breaks.
The next time an Israeli pharma company comes up with a lifesaving treatment or a significant medical advance; a reasonably common occurrence, they should announce it; and withhold it.
They truly have lost their way...
I wonder if someone should inform them that Yeshua was Jewish. Might put them off.
$20 billion “endowment”??? I thought they were supposed to help the poor and so forth. What a soulless scam.
a fake church outfit, doing Satan’s work in this life, and going straight to Hell in the next
Do they divest from muslim countries...
If a christian bakery can be sued to force the owners to do business over a cake, why cant the pension be sued to do business with a jewish bank?
RE: Do they divest from muslim countries...
Not sure, what’s there to invest in Muslim countries?
Are their oil companies listed in the US stock exchanges?
“”and several African and Middle Eastern countries round out a list of 14 nations identified as “high risk” because they “demonstrate a prolonged and systematic pattern of human rights abuses,””
And I’ll bet every single one of those 14 have contributed to Hillary’s presidential campaign(s) and filled the coffers at the Clinton Foundation(s)...and I suspect the members of that denomination support dems... Hillary herself has claimed membership in the Methodist church and that’s understandable since they’ve never been known to take a strong position on anything to do with spirituality but anti-Semitism - YEAH!!!!! Works for them.
“”A church pension fund is $20 Billion””
Probably the first thought to cross all our minds. Guess they’re not letting governors of democrat states manage their portfolios for them....
If Planned Parenthood was a publicly traded stock, they would load up on that one.
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