North Carolina Divests $40 Million From Unilever Over Ben & Jerry's Israel Boycott
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North Carolina closed out 2022 by becoming the latest state to divest $40 million from Ben & Jerry's parent company Unilever over the ice cream brand's Israel boycott.
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North Carolina joins other politically diverse states like Arizona, Florida, Illinois, New Jersey, New York, and Texas in pulling state retirement funds from Unilever.
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North Carolina State Treasurer Dale Folwell said his office had to follow proper procedures before divesting, noting Unilever did not respond to outreach attempts.
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The divestment stems from a 2017 North Carolina law prohibiting state investments in companies engaged in an Israel boycott.
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Unilever has rejected and condemned antisemitism while attempting to sell Ben & Jerry's Israel operations, but the ice cream brand's independent board maintains its West Bank sales ban.