New York City Comptroller Brad Lander faces criticism for allegedly divesting city pension funds from Israeli government bonds, departing from a decades-long tradition upheld by his predecessors. The city first invested in these bonds in 1974, with significant reinvestment under previous comptrollers. Currently, the pension funds allocate only $1.17 million in Israeli bonds, raising allegations of "passive divestment" motivated by political affiliations. Critics contend that Israeli bonds historically yield strong returns, challenging Lander's claim that the pension funds do not invest in foreign sovereign debt.
New York City Comptroller Brad Lander's decision to not reinvest city pension funds in Israeli bonds is seen as divestment and a break from historical practices.
Lander's office claims the pension funds do not invest in foreign sovereign debt, while critics accuse him of passive divestment for political reasons.
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