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The main pension fund for employees and retirees of the New York State government on Friday warned Ben & Jerry’s parent company, Unilever, that it could restrict its investments in the company due to the decision of the ice cream maker to stop sales in the territories occupied by Israel.
In a letter obtained by The Post, Liz Gordon, executive director of corporate governance for the $ 254.8 billion New York State pooled pension fund, told Unilever CEO Alan Jope , that State Comptroller Thomas DiNapoli “is troubled and concerned” by the Ben & Jerry announcement.
Gordon noted that the state pension fund’s policy is to restrict investment in companies involved in the anti-Israel boycott, divestment and sanctions (BDS) movement, and reports suggest that “Ben & Jerry’s , a wholly owned subsidiary of Unilever, is involved in BDS Activities.
“The Fund views the activities of BDS as a potential threat to Israel, its economy and, therefore, the relevant investments of the Fund,” she wrote. “In addition, a number of US states have acted or are considering taking action to penalize companies that engage in such behavior.
“As a result, companies that engage in BDS activities may face legal, reputational and financial risks. “
Gordon gave Jope 90 days to respond to the letter and “confirm or deny whether Unilever or its subsidiaries have undertaken any business with the intent to penalize, inflict economic harm, or limit commercial relations with the State. ‘Israel’.
She added that if the company does not respond, London-based Unilever will be “subject to a detailed review and staff recommendation, which may include investment restrictions.”
According to the most recent annual report of the New York State Mutual Fund, approximately $ 73 million has been invested in Unilever.
Unilever representatives did not respond to The Post’s request for comment.
The letter comes just days after the Vermont-based ice cream company announced it would let its partnership agreement with its Israel-based licensee expire at the end of the year.
“We believe it is incompatible with our values that Ben & Jerry’s ice cream is sold in the Occupied Palestinian Territories (OPT),” the company said in a statement.
The term Occupied Palestinian Territories has been used for years to describe areas occupied by Israel since 1967, namely the West Bank, including East Jerusalem, and the Gaza Strip, according to the European Council on Foreign Relations.
Ben & Jerry’s has made it clear that it will not withdraw from Israel, where it will continue to sell ice cream “through a different arrangement”.
The move drew negative reactions not only from New York State, but several others with anti-boycott laws as well.
Florida State CFO Jimmy Patronis, who controls the state’s public pension funds, sent his own letter to Ben & Jerry’s CEO Matthew McCarthy on Thursday.
He informed the company that his announcement “may result in your company being placed on the list of Florida controlled companies that boycott Israel under Florida statutes.”
“As you may know, Florida law prohibits the state from investing in companies that discriminate against Israel by refusing to deal with or terminate business activities in a discriminatory case,” he said.
He added that if the company were added to the state’s list, Ben & Jerry’s and Unilever would be barred from entering or renewing contracts with the state.
A total of 35 U.S. states have signed similar laws aimed at preventing states from funding companies that boycott Israel, according to Israel’s Ambassador to the United States, Gilad Erdan.
Earlier this week, Erdan sent a letter to governors in those states calling on them to take action against Unilever over the Ben & Jerry announcement.
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