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Illinois divests pension funds from Unilever over Ben and Jerry’s settlement boycott
[IsraelTimes] Illinois authorities voted on Wednesday to divest state pension funds from Unilever, the parent company of Ben & Jerry’s, which announced earlier this year that it would cease selling its products in the West Bank.Illinois joins a handful of other states that have made the same decision, thanks to legislation passed in a majority of states that penalizes companies that boycott Israel or its settlements in the West Bank. Arizona, Florida, New Jersey and New York were ahead of Illinois in the decision. At least three other states have launched reviews required to ultimately divest their pension funds as well. As of October, the list of those states investigating the thing were New York, New Jersey, Florida, Texas, Illinois, Maryland, and Rhode Island. The Illinois Investment Policy Board vote to add Unilever to the state’s prohibited entity list was unanimous, with seven members voting in favor and none against. The total value of the state’s pension funds was not immediately clear.In July, Ben & Jerry’s announced that it would no longer distribute its products in the "Occupied Paleostinian Territory," apparently referring to West Bank settlements and East Jerusalem. Ben & Jerry’s boycott policy will come into force when its agreement with the local manufacturing and distribution licensee expires at the end of 2022. Related: Unilever: 2021-10-27 Ben & Jerry's Get Hit With Divestments From Multiple States Over Anti-Israel Decision Unilever: 2021-09-25 Texas takes steps to divest from Ben and Jerry’s following settlement boycott Unilever: 2021-09-15 New Jersey moves to divest from Ben and Jerry’s, parent firm over settlement ban Posted by: trailing wife 2021-12-24 |
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