Activists Urge New York State to Stop Investing in Israel Bonds

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A coalition of organizations, including Jewish Voice for Peace and Democratic Socialists of America, launched the 'Break the Bonds New York State' campaign to demand that the state stop investing in Israel Bonds. The initiative is part of a national effort targeting the more than $1.6 billion in bonds held by U.S. state, municipal, and public pension funds, specifically aiming at the New York State Common Retirement Fund’s $360 million investment. Organizers cited ethical concerns regarding the funding of military operations and argued that the bonds represent a financially risky investment following recent credit rating downgrades by major agencies. The campaign emerged in 2024 as activists sought to pressure state officials to redirect public funds toward domestic investments.

Consequences

If successful, the campaign could compel the New York State Common Retirement Fund to divest its $360 million stake in Israel Bonds, following the precedent set by previous divestment decisions in states like Michigan, Maryland, and Minnesota. Increased public and political pressure may also force state financial officers to address potential fiduciary concerns related to the bonds' current credit ratings.

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