WASHINGTON (JTA) – The sale of Caterpillar tractors to Israel was a factor, but not the determining one, in the delisting of the company from an influential index that prioritizes good governance and human rights.The move, however, is poised to further complicate the difficult ongoing conversation about Israel taking place between American Jewish gruops and the Presbyterian Church (USA).
A senior official at MSCI-ESG, a subdivision of MSCI, an investment advice firm, said Caterpillar already had a low rating before its delisting earlier this year, in part because of its association with the I
Editor’s note: Here is a copy of the recently released report by the Presbyterian Church (USA)’s Mission Responsibility Through Investment (MRTI) Committee. It summarizes a recent meeting between Caterpillar and representatives of the Presbyterian Church (USA) and the United Methodist Church. Both churches are considering whether to divest from Caterpillar. This report documents Caterpillar’s intransigence and unwillingness to compromise. Corporate engagement has not worked.
After seven years of apparently futile corporate engagement with Caterpillar over its business practices in Israel/Palestine, the Mission Responsibility Through Investment committee is recommending that the Presbyterian Church (U.S.A.) add the company to its divestment list.
MRTI is also recommending that the 220th General Assembly (2012) add Motorola Solutions and Hewlett-Packard to the list.
The move toward divestment is the “logical conclusion to what the (General Assembly) asked us to do,” said the Rev.