The Rachel Corrie Foundation for Peace and Justice

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TIAA-CREF Drops Caterpillar Stock from Social Choice Fund!

Posted on June 25, 2012

Two major victories against Caterpillar, Inc. have occurred in the past few days. Morgan Stanley Capital International (MSCI) removed Caterpillar from its World Socially Responsible Index, a list that socially responsible investment (SRI) funds use to determine their investments.

Because of this, TIAA-CREF quickly divested its socially responsible fund, the Social Choice Fund, of the Caterpillar stock held, worth over 73 million dollars. This follows word of $900,000 of Caterpillar stock dumped by the Friends Fiduciary Corporation (FFC), the financial arm of the Quakers, barely a month ago.

Support Divestment NowThese major developments occur just days before the General Assembly of the Presbyterian Church U.S.A, a national meeting in Pittsburgh to begin later this month, where commissioners from across the U.S. will vote on a proposal to divest from Caterpillar, Motorola, and Hewlett-Packard because of their continuing involvement in the Israeli occupation. The Rachel Corrie Foundation fully supports efforts to hold Caterpillar Inc. accountable for its complicity in Israeli crimes – the demolition of Palestinian homes, the construction of the Separation Barrier in the West Bank, and the use of Caterpillar equipment as a weapon against unarmed civilians. It was a Caterpillar weaponized bulldozer operated by the Israeli military that killed Rachel Corrie, as she attempted to stop the demolition of Palestinian homes in Gaza.

While celebrating this victory, there is much work to do. The We Divest campaign, organized by Jewish Voice for Peace and the American Friends Service Committee, calls for TIAA-CREF to divest all of its funds from Caterpillar and other companies which profit from violations of Palestinian human rights. Boycott, Divestment, and Sanctions must not be confined solely to the relatively small realm of socially responsible investment funds. Instead, we aim to end support for Israeli impunity from all quarters and refuse to profit from it in all of our investments.

» Read the full statement released by the We Divest Campaign here…

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The Rachel Corrie Foundation for Peace & Justice
203 East Fourth Ave., Suite 402
Olympia, WA 98501

Phone: 360-754-3998
Click here to email us.

MENU
  • RACHEL CORRIE
    • Rachel’s Emails from Palestine
    • Rachel’s Words in Print
    • Rachel Corrie Memorial Archive
    • The Rachel Corrie Court Trial
  • ABOUT RCF
    • Mission & Guiding Principles
    • Board of Directors & Staff
    • Employment Opportunities
    • Internship & Volunteer Opportunities
    • Contact Us
  • PROJECTS
    • A Tale of Two Cities: Olympia-Rafah Solidarity Mural Project
    • Gaza Projects
      • RCF Gaza Resource Page
      • Rachel Corrie Gaza Sport Initiative
      • Palestinian Cultural Palace – Youth Performances
    • Olympia Arab Festival
      • Shuruq 4.5 Olympia Arab Festival 2020
    • Peace Works
    • RCF Educational Scholarships
      • Birzeit University Women’s Scholarship
      • Rachel Corrie Memorial Scholarship
  • BDS
    • Palestinian Call for Boycott, Divestment & Sanctions
    • Protect Your Right to Boycott! Fight Back Against Anti-BDS Legislation
    • Get Involved!
  • EVENTS
  • WAYS TO GIVE