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This story online at http://www.pcusa.org/pcnews/2007/07176.htm.
07176
March 23, 2007
Steady progress
Israel, Palestine continued focus of responsible investment committee
by Toya Richards Hill
LOUISVILLE * Corporate engagement of businesses that promote violence in Israel and Palestine is still at the forefront of the denomination's Mission Responsibility Through Investment (MRTI) committee. [http://www.pcusa.org/mrti/]
In the last six to eight months, MRTI has worked with a coalition of ecumenical partners who have taken similar stands as the Presbyterian Church (U.S.A.) on dealing with corporate business practices in Israel and Palestine, MRTI Chair Carol Hylkema reported to the General Assembly Council (GAC) during its meeting here March 13-16.
Included in the group, which has not yet been named, is the Evangelical Lutheran Church in America, the Episcopal Church, the United Church of Christ, Mennonite Mutual Aid, the Sisters of Loretto and several boards and conferences of the United Methodist Church, said Hylkema, who is also a GAC member.
"All of these groups have selected corporations with whom to be in engagement. Several have selected the corporations selected by MRTI," she said. "In these cases, MRTI will join with those ecumenical partners to proceed with engagement, taking the lead in some and following in others."
MRTI, charged with monitoring the PC(USA)'s investments to make sure they are socially responsible and in line with General Assembly policy, selected five multinational corporations to "engage" whose businesses directly or indirectly cause harm or suffering to Palestinians or Israelis.
They are New York City-based Citigroup Inc.; White Plains, NY-based ITT Industries; Schaumburg, IL-based Motorola Inc.; Hartford, CT-based United Technologies Corp.; and Peoria, IL-based Caterpillar Inc.
MRTI's efforts are the result of a decision of the 216th General Assembly (GA) in 2004 to "initiate the process of phased, selective divestment" from companies the PC(USA) believes are profiting from the Israeli occupation of Palestinian territories and from construction of Israel's security barrier. The 217th GA in 2006 replaced that wording, calling for the denomination's investments to be invested in only peaceful pursuits, and that MRTI use its customary corporate engagement process.
"We have continued our engagements with the corporations selected as we have been able to schedule them," Hylkema said. "We hope that by our September GAC meeting we'll be able to announce next steps, including the possible removal of at least one of our selected corporations from our engagement list."
She also said the committee is connected to the denomination's Israel/Palestine Network, which meets again in early May.
Along with Israel and Palestine, MRTI also continues its work related to Sudan, an assignment the committee was given by the 217th GA.
The committee is working both ecumenically and with secular groups on the issue, which is complicated by the fact that U.S. corporations are not allowed to do business in Sudan. Subsequently, foreign companies in which the PC(USA) is invested will be engaged, Hylkema said.
MRTI's focus currently is on PetroChina, a petroleum and natural gas corporation. "We are trying to contact other investors in our ecumenical community to develop a profile for engagement and identify next steps," Hylkema said.
Siemens Corporation, a German telecommunications company in which the PC(USA) holds stock, recently announced its withdrawal from Sudan. Previously, Talisman Oil Company of Canada withdrew from Sudan after being placed on the PC(USA)'s divestment list.
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