New York pension fund joins exit from Unilever over Israel restrictions

[George II]

Source: Reuters

October 28, 2021 11:11 PM EDT

New York's $268 billion state pension fund on Thursday became the latest to restrict its holdings in Unilever Plc (ULVR.L) in response to sales limits imposed by the company's Ben & Jerry's ice cream brand in the Israeli-occupied Palestinian territories.

In a statement sent by a spokesman, New York State Comptroller Thomas DiNapoli said a review found the company and its subsidiary "engaged in BDS activities," referring to the "Boycott Divestment Sanctions" movement that seeks to isolate Israel over its treatment of the Palestinians.

The New York State Common Retirement Fund has total Unilever equity of $111 million, the spokesman said. The fund is the third-largest U.S. public pension fund.

Pension officials in other states including New Jersey, Arizona and Florida have also moved to sell shares in Unilever or restricted the purchase of new stock for similar reasons.

Read more: https://www.reuters.com/business/new-york-pension-fund-divest-104-mln-stake-unilever-2021-10-29/

[bucolic_frolic]

1. Foreign policy by Ice Cream Deprivation

Amazing. Never expected to see that.

[JohnSJ]

2. Unbelievable

[McKim]

3. Just a Reminder....

Just a reminder that BDS is a non violent strategy that works. Remember the grape strikes in Delano and nation wide? They worked. Boycotting is not a crime!

[Mosby]

4. This is an anti-bds boycott. Bds is a failure, because it's based on a bigoted view of Israel

[karynnj]

5. Three things anger me about this

1) By no normal definition of boycott, divestment or sanctions did Ben and Jerry's do any of those things. A boycott is calling for no one to buy from the country boycotted. Here, the ONLY boycott is from Israelis and right wing Jews recommending that people not buy Ben and Jerry's - even adding a level of ridiculousness by calling it anti Semitic ice cream.

2) a bigger deal is that the same people who are now calling for a boycott of Ben and Jerry's put that ridiculous law making it illegal to call for a boycott of Israel. People here likely remember calls to boycott US STATES that inact controversial laws. I Remember at least NC and Arizona. Note it is perfectly legal to call for a boycott of French products as the right did in 2003. You could call for a boycott of Canada.

3) Until Trump, the US backed the international position of being against the settlements. At this time, the US is again against the settlements.