State treasurers in New Jersey and Arizona are divesting approximately $325 million in investments from consumer goods giant Unilever after subsidiary Ben & Jerry said it will stop selling its ice cream in Israeli-occupied territories.
In July, the company said in a statement that it was “inconsistent with our values for Ben & Jerry’s ice cream to be sold in the Occupied Palestinian Territory.” It said it has informed the licensee that manufacturers the ice cream in the region that it will not renew its license when it expires at the end of 2022. Despite leaving the Palestinian territories, Ben & Jerry’s said it will stay in Israel through a different arrangement that has not yet been determined.
A New Jersey law enacted in 2016 requires state pension funds to withdraw investments from any company that boycotts the goods, products, or businesses of Israel or companies operating in Israel or territories occupied by Israel. The law requires the state to create a blacklist of companies that boycott Israel.
Author(s): Michael Katz
Publication Date: 20 Sept 2021
Publication Site: ai-CIO