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Caerphilly County Borough Council could add its voice to calls for a regional pension fund to divest from potential links to the conflict in Gaza.

A cross-party group of councillors, including several cabinet members, has backed a review of the Greater Gwent Pension Fund’s investment portfolio.

If their motion is backed next week, Caerphilly Council could become the third fund member to urge the fund to divest from any companies that could be “benefiting from the conflict” or are “potentially complicit in war crimes”.

The fund looks after more than £4 billion invested on behalf of current and retired public sector workers in Blaenau Gwent, Caerphilly, Monmouthshire, Newport and Torfaen – the latter of which is the fund’s lead authority.

“We have a duty to ensure that our public funds are not used to perpetuate war crimes or human suffering,” said Plaid Cymru council group leader Charlotte Bishop, who proposed the Caerphilly Council notice of motion.

“Our public money and pensions should not fund the bombing of civilians. It should fund peace, reconstruction and justice. Personally I believe if we say we stand for peace and human rights, we must act like it.”

Cllr Bishop’s notice of motion asks the council to note the “ongoing, deeply concerning and harrowing conflict in Gaza”, support for an “immediate bilateral ceasefire”, and “widespread calls” for peace.

It also notes actions by the Israeli military and Hamas, and asks the council to recognise that the fund “has the ability and responsibility to apply ethical investment criteria, to ensure that pension contributions are not linked to human rights abuses or violations of international law”.

The proposed motion calls on the council to push for a review of the fund’s dealings and ensure there are “strong checks” before any investments are made.

It has been supported by councillors Carol Andrews, Alan Angel, Marina Chacon-Dawson, Greg Ead, Nigel George, Teresa Heron, Philippa Leonard, Colin Mann, Amanda McConnell, Brenda Miles, Sean Morgan, Teresa Parry, Jamie Pritchard, Janine Reed, John Roberts, Roy Saralis, Walter Williams and Ceri Wright.

Former councillor Lindsay Whittle also signed the notice of motion before he left the council to take up his new role as Caerphilly’s Senedd Member.

Torfaen Council was contacted for comment on the proposed notice of motion.