Change is Brewing: NC pension funds could divest Ben & Jerry's stock over Israel stance
No more Chunky Monkey for state retirees?
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Ben & Jerry's, which is owned by U.K.-based consumer goods company Unilever, issued a statement in July that selling its ice cream in the occupied territories of the West Bank, East Jerusalem, the Gaza Strip and the Golan Heights was "inconsistent with our values." The company said it had informed its licensee in that area that its license wouldn't be renewed after it expires at the end of 2022.
The National Legal and Policy Center, a conservative nonprofit, recently wrote to Folwell, whose office manages the state's pension funds, asking for "the immediate divestiture of Unilever holdings."
Unilever also owns Breyer's ice cream, Lipton tea, Hellmann's mayonnaise, Dove soap, Axe spray and body wash, and Surf and Persil detergents.
"Once Ben & Jerry’s (Unilever) terminates its license with the distributor in Israel, then the Investment Management Division would review the status of the law and adjust its investments to fully comply with any statutory requirements," Folwell's office said in a statement.
Other states are considering similar moves.
North Carolina's pension funds, which total $121.4 billion, benefit more than 900,000 retired teachers, firefighters, police officers, state and local government employees and other public workers.
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