Pension Giant Nixes Vote on ‘Divestment’
JNS.org //
The U.S. pension giant TIAA-CREF announced it would not allow a vote on an Israel divestment resolution at its upcoming shareholders meeting.
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The pro-Israel education group StandWithUs—which has actively worked on this issue for years, attending TIAA-CREF shareholders meetings to counter efforts by Jewish Voices for Peace and other groups who lobbied the pension giant to divest from Israel—praised TIAA-CREF’s decision.
“StandWithUs commends TIAA-CREF for not putting the BDS resolution to a vote this year, thereby ensuring the shareholders meeting will focus solely on TIAA-CREF business,” Avi Posnick, the New York regional coordinator for StandWithUs, told JNS.org.
Additionally, StandWithUs noted that JVP and other pro-BDS groups falsely claimed that Caterpillar Inc. (CAT) was dropped from TIAA-CREF’s “socially responsible” fund due to their pressure over CAT’s involvement in Israel. According to a press release from MSCI, a research firm that provides portfolio assessment, CAT was actually dropped from the fund over its closure of a locomotive plant in Canada.
“It is clear that the anti-Israel movement will continue to obsessively spread misinformation about Israel, which will do nothing to advance peace between Israelis and the Palestinians,” Posnick told JNS.org.
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