New Jersey pension fund to divest from Danish bank over Israel
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New Jersey pension fund to divest from Danish bank over Israel

State Association of Jewish Federations said last year that Danske was refusing to do business with two Israeli defense companies

Danske Bank's headquarters in Kongens Nytorv in Copenhagen, Denmark. (CC BY-SA Wikimedia Commons)
Danske Bank's headquarters in Kongens Nytorv in Copenhagen, Denmark. (CC BY-SA Wikimedia Commons)

TRENTON, NJ — New Jersey’s government worker pension fund will divest from a Danish bank that officials say is boycotting Israeli businesses.

The state Legislature in 2016 passed and then-governor Chris Christie, a Republican, signed a law requiring that the pension fund divest from any companies intentionally boycotting Israeli goods and services. NJ.com reported the State Association of Jewish Federations had argued last year that Danske Bank was refusing to do business with two Israeli defense companies.

Division of Investment Director Chris McDonough said in December that Danske was intentionally working to limit commercial relations with Israel.

Danske spokesman Kenni Leth says the bank is not boycotting Israel or Israeli companies, but has a list of companies it says “do not meet the requirements of responsible investment principles.”

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