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- Written by KBOO's More Talk Radio KBOO's More Talk Radio
- Published: 29 March 2016 29 March 2016
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Hosts Celeste Carey and Cecil Prescod speak with Ned Rosch about the
recommendation of Portland’s Socially Responsible Investments Committee
for the City of Portland to put Caterpillar on City’s Do-Not-Buy List
Portland’s Socially Responsible Investments Committee (SRIC) voted – 4
in favor, 2 opposed – at its March 17th meeting to recommend that City
funds should not be invested in Caterpillar, citing concern that
Caterpillar Corporation violates a number of the City’s socially
responsible investment criteria.
Caterpillar, which provides militarized bulldozers that are used to
demolish Palestinian homes, has long been a target of human rights
activists. Maxine Fookson, from Occupation-Free Portland, which pushed
for Caterpillar to be placed on the Do-Not-Buy List, said, “This is an
important victory for human rights. The SRIC today took a stand on the
right side of history making it clear that companies, like Caterpillar,
that are knowingly engaged in human rights violations in the Israeli
occupation of Palestinian land should not be supported by Portland
investments.”
The SRIC’s recommendation was based on review of an MSCI analysis which
rates companies for their investment potential and includes a screen
that looks at environmental, social and governance (ESG) concerns. In
addition, the SRIC heard powerful testimony at their February meeting
from supporters of Occupation-Free Portland, a campaign committed to
getting Caterpillar, G4S, Hewlett-Packard and Motorola Solutions placed
on Portland’s Do-Not-Buy List for their complicity in – and profiting
from – the many human rights violations that are part of the Israeli
occupation of Palestinian lands.
Later this year, the SRIC will recommend to the City Council a list of
corporations that should be on Portland’s Do-Not-Buy List. Members of
the City Council will consider the SRIC recommendations and make the
final decision in this matter.