Ethical Investment Campaign Blocked by Liberal Democrats

Ethical Investment Campaign Blocked by Liberal Democrats

The campaign for Edinburgh Council's pension fund to disinvest from arms company BAE Systems was blocked last night by the Liberal Democrats.

Green Councillor Maggie Chapman's motion calling for an ethical investment policy was replaced by a Liberal Democrat counter-motion calling for a ' balanced and properly diversified investment portfolio', erasing all references to BAE.

This comes despite the company's record of providing weapons to Zimbabwe, Colombia, Indonesia and Israel, as well as for the recent war in Iraq. Stunningly, it also runs directly counter to Liberal Democrat conference policy.

The campaign has however made a major breakthrough - the Green motion was supported by the Labour group, whose fund manager refused to embrace ethical investment when Labour were in power last year.

To plan what to do next please come to the Potterow Chaplaincy, 7pm, Thursdays! and/or join the facebook group http://ed.facebook.com/group.php?gid=2392291586 .

To view the Green motion please click here http://cpol.edinburgh.gov.uk/getdoc_ext.asp?DocId=101672 and see item 10.4 .