Alameda County divests from Caterpillar over equipment sales to Israel
Alameda County divested $32 million from the construction equipment company Caterpillar on Tuesday in response to outrage by activists over the use of the equipment by Israel’s military to build settlements in Palestinian communities. With the Board of Supervisors’ vote this week approving the move, Alameda County becomes the largest regional government in the U.S. to strip public funds from corporations that support Israel’s occupation of the Palestinian territories of the Gaza Strip and the West Bank as part of a new effort to craft an ethical investment policy. “I have initiated the sale of three bonds from the Caterpillar corporation. Two of our three positions have already been sold,” Alameda County Treasurer Henry C. Levy, the only Jewish elected official in the county, said at Tuesday’s Board of Supervisors meeting. “I am committed to working with community members to ensure the fiscal policies of our county create safe and sound impacts within the county with our investment’s impact.” The bonds represent 0.3% of Alameda County’s $11 billion investment portfolio. Levy said Caterpillar’s investments would become a “distraction” to creating a new ethical investment policy because