US Presbyterian Church to Divest from Israeli-Linked Investments

WASHINGTON The U.S. Presbyterian Church has voted to divest its financial holdings from three American companies doing business in parts of Israel considered by Palestinians to be occupied territory.

The governing General Assembly voted Friday 310-303 to remove holdings in Caterpillar Inc., Hewlett-Packard and Motorola from the churchs portfolio of investments, according to a statement posted on its Web site.

Though largely symbolic, the decision comes amid building pressure on other churches, companies, organizations, universities and others by the Boycott, Divest and Sanctions movement, known as BDS.

The statement said the Assembly members included a preface to its resolution saying the church was committed to peace in Israel and Palestine."

We recognize the complexity of the issues, the decades-long struggle, the pain suffered and inflicted by policies and practices of both the Israeli government and Palestinian entities. We further acknowledge and confess our own complicity in both the historic and current suffering of Israeli and Palestinian yearning for justice and reconciliation, the resolution stated.

The resolution explicitly noted that the vote does not mean an alignment with the overall strategy of the global BDS movement.

That movement, started by Palestinian groups almost a decade ago, seeks to put financial pressure on Israel to reach accommodation with Palestinians on the status of refugees, territories in the West Bank and a comprehensive peace deal.

The church, which reportedly holds about $21 million in investments in the three companies, held a similar vote two years ago that failed. In addition to supporters of the divestment, this years vote had attracted intense lobbying from Jewish groups.

Israel's reaction

In a statement posted Friday night on its Facebook page, the Israeli Embassy in Washington called the resolution "shameful."

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US Presbyterian Church to Divest from Israeli-Linked Investments