A group of about 40 pro-Palestinian activists gathered outside Gainesville City Hall Thursday afternoon.
They were demanding the city divest from all corporations in its investment portfolio. In doing so, the city would no longer be linked to companies with ties to the Israel-Hamas War. That includes companies like Lockheed Martin, which manufactures fighter jets purchased by Israel.
However, a law known as HB3 prevents local governments from making investment decisions based on environmental, social and governance factors. That includes things like a company’s impact on climate change, its adherence to human rights and how transparent they operate.
In order to get around that law, the protestors gave the commission some financial advice on why they should divest.
Bana Kabalan is with the Gainesville Divest Coalition.
"We want the city to divest from corporate notes, and we want them to invest in long term, less risky notes, which are U. S. Treasury notes," Kabalan said.
The group contends that stocks are risky, while US treasury bonds are more stable. The Alachua County commission divested from all corporations earlier this year.
Kabalan says the coalition will continue to protest at Gainesville City Commission meetings
