SAN FRANCISCO, Aug 11: The US Presbyterian Church has threatened to divest from five American giant corporations, accusing them of supporting and helping maintain the Israeli occupation of Palestine.

The church’s ‘Mission responsibility through investment’ (MRTI) committee said in a statement it would have to use the church’s multimillion-dollar stock holdings in the five corporations to put pressure on them to stop supporting Israeli occupation.

It also said it hoped to engage in a dialogue “so that these corporations might change their business practices which inflict harm on the innocent and delay movement towards a just peace”.

“If these dialogues fail, we may conclude that our investments are not being used for activities that support the broad mission of the church,” church official Bill Somplatsky-Jarman said in a press release.

“At that point, divestment is an option that the general assembly may consider.”

During its general assembly meeting last year, the church proposed withdrawing investments from firms that do business in Israel.

The church for the first time named five targeted companies which are heavy equipment manufacturer Caterpillar, communications giant Motorola, military contractor United Technologies, electronics manufacturer ITT Industries and international banking conglomerate Citigroup — all of which are firms who have been contracted to supply the Israeli forces.

“We have chosen these companies because we believe that they can make changes that will increase the possibilities for a just peace in the region. As shareholders of these companies, the Presbyterian Church calls on them to act responsibly,” Carol Hylkema, chairperson of the MRTI committee, said in a press release.