"The debate over Alameda County's investment policies has been raging since December, when Alameda County Treasurer Henry Levy sold the county's holdings in Caterpillar Inc. as the company faced accusations of supporting illegal Israeli settlements amid the political firestorm over Israel's war in Gaza. The Board of Supervisors directed Levy to create an ethical investment policy for its $10 billion investment portfolio. Alameda County, which previously boycotted apartheid in South Africa in the 1990s, has not been shy about stepping into the political fray."
"Meanwhile, supporters of the policy have lobbied hard for it, and opponents have just as vehemently claimed that it is not actually about avoiding companies that do business with human-rights violators around the globe, but specifically a tool to punish Israel for its ongoing military assault on Gaza. That's why it was a strange scene when the Board of Supervisors voted 4-1 to adopt the policy, with silence from the scores of pro-Palestinian activists in the room who had demanded it. Their ambivalence stemmed from the supervisors' motion to seek a peer review of the policy that would delay its implementation for months."
""It's driven by anti-Israel activists and could lead to blacklisting companies simply for doing business with Israel," Pleban said at the meeting. "Policies like that only make things worse, legitimizing efforts to demonize Israel and creating a more hostile environment for Jews.""
Alameda County Treasurer Henry Levy sold the county's Caterpillar holdings amid accusations the company supported illegal Israeli settlements during Israel's war in Gaza. The Board of Supervisors directed Levy to craft an ethical investment policy covering the county's $10 billion portfolio. The county previously boycotted apartheid-era South Africa and has engaged in politically charged decisions before. Supporters lobbied for the policy on moral grounds, while opponents warned it would single out Israel, foster antisemitism, and harm returns. The Board voted 4-1 to adopt the policy but ordered a peer review that delays implementation for months, producing mixed reactions.
Read at The Mercury News
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