Statement on the formal recognition of the state of Palestine and action on divestment

“I wholeheartedly welcome the UK Government and its allies’ recognition of the Palestinian state, an historic moment that restores some hope in the possibility of peace and a two-state solution where there is both a secure Israel and a state of Palestine that includes Gaza and the West Bank.

“This hope had almost gone; the UN Independent Commission’s conclusion, on 16 September 2025, is that Israel has committed genocide against the Palestinian people, according to criteria set out in the Genocide Convention. And yet, in addition to rallies around the world, we have seen citizens rally in Israel to end the war, for the safe return of hostages, and immediate delivery of aid in line with humanitarian principles.

“In Hackney, we have raised the concerns of local residents in letters to the Foreign Secretary, seeking an immediate ceasefire and an end to displacement of Palestinians and loss of territory in Gaza and the West Bank. We have also called for sanctions and arms embargoes as well as recognition of the state of Palestine, and we have sought to strengthen ethical investment in Hackney, within the constraints of our fiduciary duties.

“We note recent steps taken by the London Collective Investment Vehicle (LCIV) to reduce its Partner Funds’ risks associated with human rights allegations related to the situation in Israel and the Occupied Palestinian Territories, and commitment to enhance guidelines relating to human rights issues in all their forms. In light of the ⁠UN position on Genocide and on LCIV’s clarification of their policy, we want to take collective action with other London councils, to explore the changes required to engage with, and divest pension fund investments from, companies tied to human rights breaches, including conflict.

“This will ensure we take every opportunity to divest pension fund investments from companies profiteering from activities within conflict zones and countries linked to genocide.”

Mayor of Hackney, Caroline Woodley

Following this announcement today, the Council will:

• Join with other councils in London in exploring ways to divest from companies linked to human rights abuses in the Occupied Territories as listed by the UN High Commissioner for Human Rights.
• Build on the work we are currently doing to act on the feedback we received from members through adopting a stronger and more robust Responsible Investment Policy.
• Engage with the London Collective Investment Vehicle (LCIV) to create a framework that will enable future exclusions of investments linked to conflict, military occupation or genocide.
• Build the UN Genocide Convention into our investment framework, so we can choose not to invest in companies complicit in breaches of the Convention found by the International Court of Justice. Our pension fund will develop a plan to implement this initiative with relevant country and sector-specific exclusions.

Since October 2023, Hackney Council has:

• Resolved a motion in January 2024 calling for ‘a ceasefire, release of all hostages and more support for local community cohesion’
• Responded to a deposition heard in July 2024 calling for divestment
• Been transparent as one of the first boroughs to publicly disclose and monitor companies listed by the UN Human Rights Council
• Reviewed our approach to responsible investment
• Surveyed our pension members to inform our investment policies
• Become signatories of the UK Stewardship Code, recognising Hackney Pension Fund as one of the few local government pension scheme providers adhering to the highest standards of ethical investment.
• Updated and relaunched its ‘no place for hate’ campaign and produced a new ‘no place for hate’ strategy, details of which are here: www.hackney.gov.uk/crime-and-safety

For more details of what we have done including our correspondence with the UK Government visit: www.hackney.gov.uk/israel-and-gaza