![\"An](\"https:\/\/oaklandside.org\/wp-content\/uploads\/2024\/12\/Divest-5.jpg\")
Nonprofit news can transform communities and strengthen democracy.<\/strong> The Oaklandside is committed to telling stories about what\u2019s beautiful in Oakland as well as the city\u2019s systemic problems, their root causes and possible solutions. Will you donate to our year-end fundraising campaign<\/strong> to support our reporting?<\/p>\n\n\n\n Yes, I want to support The Oaklandside!<\/a><\/p>\n\n\n\n Caterpillar Inc. manufactures tractors and other heavy equipment sold and used around the world. And like a lot of big companies, Caterpillar\u2019s stock and bonds are frequently included in investment portfolios of pension funds, universities, cities, and counties.<\/p>\n\n\n\n But Caterpillar has also been the subject of intense controversy<\/a> for over two decades because of its sales to the Israeli military<\/a>. Israeli soldiers use Caterpillar bulldozers to demolish structures, roads, agricultural fields, and other infrastructure in Gaza and other Palestinian territories. <\/p>\n\n\n\n On Tuesday<\/a>, Alameda County Treasurer-Tax Collector, Henry Levy, announced he has sold off most of the county\u2019s investments in Caterpillar and he plans to finalize the county\u2019s divestment soon. <\/p>\n\n\n\n Levy\u2019s announcement was met with cheers from activists, including the group Bay Area Divest<\/a>, which includes union organizers, faith leaders, lawyers, academics, economists, tech workers, and healthcare professionals who want the county to divest public funds from \u201centities that harm our communities and profit from genocide.\u201d<\/p>\n\n\n\n Never miss a story.<\/strong> Sign up for The Oaklandside\u2019s free daily newsletter.<\/strong>Email<\/p>\n\n\n\n The county\u2019s sale of Caterpillar bonds \u2014 essentially loans \u2014 amounts to $32 million out of the county\u2019s $9 billion in funds it invests. This money is mostly tax revenue belonging to the county, school districts, and some special districts and it is invested in numerous government and corporate bonds<\/a> to preserve and grow its value before it\u2019s spent.<\/p>\n\n\n\n December 5, 2023<\/p>\n\n\n\n November 28, 2023<\/p>\n\n\n\n January 25, 2024<\/p>\n\n\n\n Luchi B., a co-founder of Bay Area Divest, said the county\u2019s decision is a small but important step \u201cIf we choke off the money, this genocide will end. We know that divesting from Alameda County itself will not change that, but it\u2019s a start.\u201d <\/p>\n\n\n\n \u201cWe are now facing an ongoing genocide facilitated by the federal resources of this government,\u201d said Lara Kiswani, executive director of the Arab Resource and Organizing Center<\/a>. \u201cIf you are a person with a moral compass, this should be a common-sense issue. Ethical investment is ethical, for those who oppose it, that speaks for itself.\u201d <\/p>\n\n\n\n Alameda County is now the first county in the nation to divest from a corporation because of its role in Israel\u2019s military activities. <\/p>\n\n\n\n \u201cCaterpillar has long faced criticism for its equipment\u2019s role in the destruction of Palestinian homes, infrastructure, and agriculture, as well as in the U.S. prison-industrial complex, border militarization, and immigration detention centers,\u201d read a statement from Bay Area Divest. In 2003, while attempting to protect a Palestinian home from demolition, American activist Rachel Corrie was crushed to death<\/a> by an Israeli military Caterpillar bulldozer. <\/p>\n\n\n\n Not everyone agrees with the county\u2019s decision to divest from Caterpillar or take a stand in relation to Israel\u2019s military actions.<\/p>\n\n\n\n Johnathan Mintzer, the senior director of government affairs for the Jewish Community Relations Council Bay Area<\/a>, spoke in opposition. <\/p>\n\n\n\n \u201cThere is certainly merit in discussing having a nuanced policy discussion about which industries the county should invest in for purposes of ensuring safety, liquidity, and future income of our assets,\u201d Mintzer said. \u201cBut it is clear that it\u2019s not the debate we\u2019re having today. Rather, this meeting is being used as a public forum to make performative ask and complain about specific companies for a range of political reasons, including alleged connections into the Middle East.\u201d<\/p>\n\n\n\n Opponents of the divestment say Alameda County should have nothing to do with international politics and that divestment from targeted companies will harm the county\u2019s finances. Some also say that any criticism of companies that supply weapons and equipment to Israel is an act of antisemitism. <\/p>\n\n\n\n This decision to divest from Caterpillar follows months of dialogue between county Treasurer Levy \u2014 who is the only Jewish elected official in Alameda County \u2014 and Bay Area Divest. <\/p>\n\n\n\n Levy said during Tuesday\u2019s board meeting that he never wants his actions to create fear among \u201chis fellow Jews\u201d or harm any other group. \u201cI am committed to working with community members to ensure fiscal policies of our county create safe and sound impacts within the county, in the communities our investments impact,\u201d Levy said.<\/p>\n\n\n\n The Board of Supervisors, with Levy\u2019s endorsement, also unanimously voted to develop an Ethical Investment Policy<\/a> that will guide Alameda County and have it consider human rights and environmental issues when making investments. The policy would prohibit investments in entities that perpetrate harm to communities and the planet. The ethical investment policy was first introduced to the board by Supervisor Keith Carson in November. The vote was originally set for Nov. 12, but was postponed by Supervisor David Haubert until this week.<\/p>\n\n\n\n Haubert said there are grey areas around ethically investing and divesting moving forward. \u201cCaterpillar is not a weapon,\u201d Haubert said. \u201cI don\u2019t believe Caterpillar said, please use our tractors in this way. If we divest from all tractors, how are we going to build homes?\u201d<\/p>\n\n\n\n Israel was attacked<\/a> on Oct. 7, 2023 by Hamas fighters who killed roughly 1,200 people and kidnapped 250. Israel then invaded Gaza, killing over 42,000 Palestinians, destroying vast swaths of the territory, causing disease outbreaks and hunger. The United Nations and others have characterized Israel\u2019s actions as \u201cconsistent with genocide,\u201d and the International Criminal Court issued arrest warrants<\/a> for Israeli Prime Minister Benjamin Netanyahu and others. Israel and its allies, including the United States, have objected to this.<\/p>\n\n\n\n The grim reality in Gaza has invoked movements worldwide to put an end to the war. United Nations Secretary-General Antonio Guterres announced<\/a> that \u201cGaza now has the highest number of child amputees per capita anywhere in the world.\u201d <\/p>\n\n\n\n Levy\u2019s decision regarding Caterpillar is not the first time Alameda County has divested from companies due to concerns around human rights violations. In 1985, Alameda County divested from South Africa, and in 1996, the county barred investments in companies doing business in Burma.<\/p>\n","protected":false},"excerpt":{"rendered":" The county is also considering an ethical investment policy to guide how it handles billions in public funds. by\u00a0Lacy Green Dec. 12, 2024, 12:45 p.m.(Oaklandside.org) Nonprofit news can transform communities and strengthen democracy. The Oaklandside is committed to telling stories about what\u2019s beautiful in Oakland as well as the city\u2019s systemic problems,… Continue reading READ MORE ABOUT LOCAL RESPONSES TO THE WAR IN GAZA<\/h2>\n\n\n\n
![\"Love](\"https:\/\/oaklandside.org\/wp-content\/uploads\/2023\/12\/20231204-235909-1200x900.webp?crop=1\")
<\/a><\/figure>\n\n\n\nLove it or hate it, Oakland City Council\u2019s resolution on war in Gaza has a long history<\/a><\/h3>\n\n\n\n
![\"Oakland](\"https:\/\/oaklandside.org\/wp-content\/uploads\/2023\/11\/IMG_1836-1200x900.jpg?crop=1\")
<\/a><\/figure>\n\n\n\nOakland City Council calls for Gaza ceasefire after weeks of protests<\/a><\/h3>\n\n\n\n
![\"Palestine](\"https:\/\/oaklandside.org\/wp-content\/uploads\/2023\/12\/20231207-234624-1200x900.webp?crop=1\")
<\/a><\/figure>\n\n\n\nPalestine teach-in prompts civil rights probe of Oakland schools<\/a><\/h3>\n\n\n\n
An ethical investment policy could lead to further divestment and other actions by the county<\/h2>\n\n\n\n