Statement on the Formal Recognition of the State of Palestine and Responsible Investment
“I welcome the UK Government’s historic decision to formally recognise the State of Palestine, alongside Britain’s international partners. This is a vital step towards keeping alive the hope of a just and lasting peace, based on a two-state solution - where both Israel and Palestine can exist in security and dignity, with recognised borders.
“The suffering in Gaza and the West Bank has been unbearable. The UN Independent Commission’s conclusion on 16 September 2025 - that Israel has committed genocide against the Palestinian people, according to the criteria set out in the Genocide Convention - marks a grave and historic moment. I am horrified by the loss of Palestinian and Israeli life, and I echo the calls for an immediate ceasefire, the release of all hostages, and urgent humanitarian access.
“Lewisham stands in solidarity with all those affected by this conflict, and we stand ready to support local residents during this difficult time.”
Mayor of Lewisham, Brenda Dacres OBE
Cllr Sian Eiles, Chair of Lewisham’s Pension Investment Committee, has set out the Council’s approach to responsible investment and divestment
Lewisham has a proud record of leadership in responsible investment – including our £900m fossil fuel divestment – and we continue to lead regional and national discussions about pension fund investments.
Pension fund governance is complex and shaped by stringent regulatory frameworks, careful deliberation and long-term arrangements which may not be easy to change.
While campaigners rightly push for urgency, meaningful change takes time and requires collaboration across multiple institutions. Lewisham is determined to drive progress and act with transparency, integrity, and urgency.
I want to set out the steps we’ve already taken to ensure our pension fund reflects our values and responsibilities, while always meeting our legal duties to members.
Following the clear call to action from the July 2025 motion we passed at Full Council, the Pensions Investment Committee has already completed nearly all of the actions agreed, and we continue to lead the discussion on responsible investment and divestment across London.
Recent actions by Lewisham Pension Fund include:
- reviewed and updated the Responsible Investment Policy to address exposure to companies involved in the arms trade, human rights abuses, and operations in occupied territories under international law
- acted on feedback from pension fund members and shortly launching a survey to inform future policy, with trade union engagement to maximise participation
- continued engagement with asset managers to ensure robust screening and reporting on social risks, including human rights and conflict
- leading efforts with LCIV and other boroughs to create a legally sound, exclusion framework, advocating for transparent criteria and initiating discussions to revise the PEPPA fund approach
- continuing transparent dialogue with campaigners, trade unions, and pension fund members, including regular updates at public meetings
- maintaining a commitment to transparency, community engagement, and upholding the highest standards of governance
This work is complex and requires consensus, but Lewisham Pension Fund is at the forefront of building a future-proof approach that aligns with its members views and can manage both current and emerging global challenges.
Cllr Sian Eiles, Chair, Pension Investment Committee