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New York pension fund to divest $104 million stake in Unilever -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A refrigerator bearing the Ben & Jerry’s logo is seen at a food store in the Jewish settlement of Efrat in the Israeli-occupied West Bank July 20, 2021. REUTERS/Ronen Zvulun

BOSTON (Reuters) – Officials of New York’s state pension fund on Thursday said it will divest its holdings in Unilever (NYSE:) Plc in response to sales restrictions imposed by the company’s Ben & Jerry’s ice cream brand in the Israeli-occupied Palestinian territories.

A statement was sent out by Thomas DiNapoli, New York State Comptroller. He stated that a review had found the company “engaged” in BDS activities. This refers to the Boycott Divestment Sanctions movement which seeks to isolate Israel for its treatment of Palestinians.

According to the statement, Unilever shares were valued at $103.6 Million by New York State Common Retirement Fund as of September 30, 2012.

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