New York Jewish Week via JTA – The New York State pension fund will sell its stakes in Unilever in response to a July decision by the conglomerate’s subsidiary, Ben & Jerry’s, to ban its sales of ice cream in the West Bank.
State Comptroller Thomas DiNapoli’s announcement Thursday makes New York the fourth state to sanction Ben & Jerry’s parent company, after New Jersey, Arizona and Florida.
At least four other states have initiated proceedings to determine whether Ben & Jerry’s move could result in sanctions against the company under state laws intended to combat the Boycott, Divestment, Sanctions (BDS) movement targeting Israel. .
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“Our review of the activities of the company and its subsidiary Ben & Jerry’s revealed that they engage in BDS activities as part of our pension fund policy,” said DiNapoli, who manages the pension fund. New York $ 268 billion, in a statement to New York Post.
The New York State Pension Fund currently holds $ 111 million in Unilever stock.
Marc Stern, legal director of the American Jewish Committee (AJC), welcomed the decision. Controller DiNapoli has shown that boycotting Israel has consequences. Unilever’s failure to overturn Ben & Jerry’s ill-advised decision to stop selling ice cream in the West Bank violates state government laws across the United States, ”he said in a statement. hurry.
Yesh Atid party leader Yair Lapid speaks at a meeting of his faction in the Knesset in Jerusalem on October 4, 2021 (Olivier Fitoussi / Flash90)
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“Congratulations and thanks to New York State for responding to our request and withdrawing $ 111 million from its investments in Ben & Jerry’s due to the boycott of Israel,” Israeli Foreign Minister Yair Lapid wrote in a press release on Twitter. “We will continue to fight BDS and anti-Semitism everywhere and without hesitation,” he said.
In July, DiNapoli wrote to Unilever CEO Alan Jope saying he was “troubled and concerned” that Ben & Jerry’s would no longer be selling ice cream in what the company called the “occupied Palestinian territories” .
“If the company does not respond or demonstrate that it has not engaged in BDS activities, the fund’s investment in Unilever will be subject to detailed review and staff recommendation, which may include investment restrictions, in accordance with the fund’s BDS policy, ”the letter said.
In 2016, the fund adopted a policy saying that there will be consequences for companies engaged in BDS activities that would jeopardize the fund’s investments in Israel.
Unilever said that due to its single ownership agreement with the board of directors of Ben & Jerry’s, the conglomerate lacks the ability to influence the “independent” business decisions of the ice cream maker. Ben & Jerry’s has said pulling its products out of the West Bank does not constitute a boycott of Israel.
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