Presbyterian Church USA and Israel

I am Presbyterian, but I didn't find this out from my church. Another reason I'm glad I get SojoMail!

The PC(USA) General Assembly voted July 2 to start a process of a phased and selective divestment of its nearly $8 billion portfolio from select companies that profit from sales of products or services that cause harm to Palestinians or Israelis or both.

The effort is phased because it proceeds in stages. It is selective because it targets specific companies, since corporations differ in significance and involvement in undermining peace, as determined by the denomination’s research.

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So far, he has been trying to determine who profits most from building settlements, from constructing the wall and from selling machinery that destroys Palestinian homes, vineyards and orchards. At some point, he will check out the bank loans that finance such work, relying on input from agencies like the California/Nevada Interfaith Committee on Corporate Responsibility in San Francisco.

At its November meeting, the denomination’s Mission Responsibility Through Investment Committee (MRTI) will review the research, establish criteria and develop a work plan to approach corporations and financial institutions that provide products, strategic services and funding that the denomination has determined are harmful. Somplatsky-Jarman staffs the committee.

Caterpillar is one of the businesses being looked at, because apparently, the Presbyterian Foundation holds 36,900 shares of its stock.

A very informative read, that's for sure.

PC(USA) News Release No. 04341 - Taking stock of taking stock