West Berkshire Council was asked to check whether staff pensions or its investments support the Israeli military. After a Green party‑led deep dive, it found one linked company - Booking Holdings Inc - but will take no further action.
The motion asked the council to review its own investments and those of the Berkshire Pension Fund to identify any direct or indirect holdings in companies "supplying arms, military technology, or logistical support which enable breaches of international law in Gaza". The executive was also asked to work with asset managers and press the Berkshire Pension Fund to act.
A petition urged the council to "commit to divest the Local Government Pension Scheme (LGPS) fund administered by the Berkshire Pension Fund from companies complicit in Israel's genocide and apartheid against Palestinians". It also asked the council to end procurement with companies it says are complicit and to terminate banking arrangements with NatWest, which the motion claims finances firms supplying Israel with weapons and linked to illegal settlements.
The council sought confirmation from CCLA Investment Management and Goldman Sachs, which manage some of its surplus cash.
On CCLA, the council said: "While the PSDF may also invest in other securities such as commercial paper, floating rate notes and bonds which may be issued or guaranteed as to principal or interest by sovereign government and their agencies, supranational entities, corporations and financial institutions, there are no such investments at this time (Nov 25), therefore there are no fund holdings, direct or indirect that fall into the categories listed in the query," said the council.
Goldman Sachs provided a prospectus stating it follows Environmental Social and Governance criteria and avoids investment in debt from issuers involved in controversial weapons (including nuclear weapons); tobacco; certain fossil fuels; civilian firearms; and private prisons. It also says the fund promotes environmental and social characteristics, including support for human rights, labour standards and anti‑corruption.
The Berkshire Pension Fund says it has faced significant pressure on this issue and has done extensive work identifying such investments and responding to public questions and FOI requests. All the fund's investments are managed by Local Pensions Partnership Investments (LPPI), which regularly monitors and reports on investments connected to Israel.
As of September 2025 LPPI listed 158 business enterprises from 11 countries. At the end of October the fund held only one investment included on that list: Booking Holdings Inc.
An officer said a question has been raised with the LPPI regarding "companies that are supplying arms, military technology, or logistical support", but based on end‑October holdings the fund had exposure to companies classed as aerospace/defence including BAE Systems, GE Aerospace, Heico Corp, Joby Aviation and Rocket Lab Corp.
The fund describes itself as a Responsible Investor and prefers engagement with companies to effect change rather than divestment. It concluded the council and Berkshire Pension Fund have robust processes to minimise exposure to conflict‑zone investments.
The council says it will continue to monitor the position but will take no further action.
Niki Hinman, Local Democracy Reporter
