Israel/Palestine issues loom large at GA
(PNS) Nearly 20 overtures about how the Presbyterian Church (U.S.A.) should deal with the conflict in Israel and Palestine will be considered by this summer's 217th General Assembly.
The majority call for the GA to rescind the process of phased, selective divestment of PC(USA) stock in multinational corporations whose business practices contribute to violence in Israel and Palestine -- a process launched by a decision of the 216th GA (2004).
Those measures would suspend the process now under way in which the Mission Responsibility Through Investment Committee (MRTI) is "engaging" such companies in an effort to get them to change their business practices.
The PC(USA) Board of Pensions and the Presbyterian Foundation oversee a multi-billion-dollar portfolio of investments on the denomination's behalf; only a very small fraction is at play in Israel/Palestine.
The portfolio includes stock in five corporations -- Caterpillar Inc., Citigroup, ITT Industries, Motorola and United Technologies -- now being "engaged" by MRTI in the phased, selective divestment process.
The GA deadline for overtures with financial implications was April 17; for those with no financial implications it is May 1.