New York State to Divest From Ben & Jerry’s Parent Unilever

Bravo! The New York State pension fund will divest over $100 million from Ben & Jerry’s parent company Unilever. More states must follow. Unilever must be held accountable for their discriminatory anti-Jewish policies.

"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" https://t.co/vCBt787IK5 pic.twitter.com/EUe1eivRuy

— Maccabee Task Force (@MacTaskForce) October 29, 2021

New York State to Divest From Ben & Jerry’s Parent Unilever

Story continues below advertisement

By Hamodia, October 29, 2021

NEW YORK – New York State will divest over $100 million in securities from conglomerate Unilever, after its ice cream subsidiary Ben & Jerry’s announced last summer it would no longer sell its products in what it deemed “occupied Palestinian territory.”

“After a thorough review, the New York State Common Retirement Fund will divest its equity holdings in Unilever PLC. Our review of the activities of the company, and its subsidiary Ben & Jerry’s, found they engaged in BDS activities under our pension fund’s policy,” state Comptroller Thomas P. DiNapoli said in a statement to Hamodia on Thursday night, referring to the anti-Israel Boycott, Divestment & Sanctions movement. A DiNapoli spokesperson told Hamodia the Fund has $111 million in actively managed Unilever holdings.

Dov Hikind, a pro-Israel activist who served in the New York State Assembly for 36 years, tweeted his support of the move. “BDS=Antisemitism,” wrote Hikind. “G-d bless Tom DiNapoli for doing what’s right.”

Ben & Jerry’s announced in July that when its agreement with its Israeli licensee expires at the end of next year, it will no longer sell products in Yehudah, Shomron and eastern Yerushalayim. Unilever at the time said it remains “fully committed to our presence in Israel,” but that when it had acquired Ben & Jerry’s in 2000, “as part of the acquisition agreement, we have always recognised the right of the brand and its independent Board to take decisions about its social mission.”

Ben & Jerry’s announcement was hailed by supporters of Palestinians and drew backlash from Israel advocates. Thirty-five states have laws or regulations barring the state from doing business with those who boycott Israel, and a number of government officials in the U.S. immediately threatened to divest their pension funds from Unilever securities.

Arizona, New Jersey, Florida and Texas have either divested or begun the process of divesting its public funds from Unilever securities.

New York City Mayor Bill de Blasio has expressed his personal disappointment with the ice cream brand’s decision and suggested he may personally boycott it, but didn’t directly call for city Comptroller Scott Stringer to divest from Unilever. Stringer, whose term is over at the end of this year, has not commented publicly on the issue, and his office has not responded to at least six queries on the matter from Hamodia. The city’s policy likely won’t change anytime soon: Brad Lander, the presumed next city Comptroller after winning the Democratic nomination, praised Ben & Jerry’s’ announcement last summer and indicated he wouldn’t divest from Unilever. “Companies that decide not to operate in the settlements do not pose a risk to new York’s pension funds,” Lander said. “If anything, continuation of the occupation poses grave ongoing risks to Palestinians, Israelis, and to those who care about them.”

 

The Truth Must be Told

Your contribution supports independent journalism

Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.

Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.

Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.

Please contribute here.

or

Make a monthly commitment to support The Geller Report – choose the option that suits you best.

• $25.00 here
• $50.00 here
• $75.00 here
• $100.00 here
• $250.00 here