UM Pensions Board Comes Out Against Divestment Resolutions

At its meeting on March 2, 2012, the UM General Board of Pensions and Health Benefits approved a resolution communicating its stance with regard to divestment resolutions coming before the General Conference.  GBPHB considered the rationale of groups advocating divestment from Caterpillar, Hewlett Packard, and Motorola because their equipment has been used in activities related to the occupation of the West Bank.  In the end the board voted unanimously to retain its current investment strategy.

The GBPHB resolution says, in part, "[D]ivestment would have limited impact on the companies listed or the human rights issues being raised and therefore that the securities of each of the three companies should be retained as eligible for purchase as investments for the General Board’s plans; we believe divestment is generally an ineffective strategy to impact a company’s policies or practices."

"Divestment is generally an ineffective strategy to impact a company’s policies or practices"

The full text of the press release with a link to the resolution can be found here: http://www.gbophb.org/news/releases/pr20120307.asp?tr=y&auid=10412416.