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Investment Firm Announces Recommendations for Preventing Corporate Anti-Israel Bias
Illustrative Anti-Israel event. Photo: Wikimedia Commons.
Morningstar, Inc., a Chicago based investment firm managing over $250 billion in assets, has issued a report including several recommendations for reducing anti-Israel bias in the environmental, social, and governance (ESG) ratings its Sustainalytics subsidiary assigns to corporations.
For several years, Sustainalytics gave poor ESG ratings to Israel affiliated companies, a practice that led Jewish civil rights groups and lawmakers to suspect that the company was violating state laws against engaging in the boycott, divestment, and sanctions (BDS) movement, which aims to isolate and weaken the Jewish state.
The firm denied the allegations, but a review of the its ratings by JLens, a leading Jewish investor network, found that Sustainalytics created “BDS blacklists” and used in its internal reports “politicized anti-Israel language” to describe Israel. JLens’ work, which was the first to raise alarms about the issue, led to Morningstar’s cracking down on the practices and adopting policies for ensuring that Sustainalytics does not become a BDS collaborator.
Released on Jan. 31, Morningstar’s new report builds on that commitment, outlining several policy changes, including: eliminating a designation which identified companies as being involved in “occupied territories/disputed region,” quashing reliance on disinformative media reports aimed at distorting a company’s ESG rating, and appointing legal experts to examine matters relevant to international human rights law.
“We welcome Morningstar’s commitment to eliminate anti-Israel bias in Sustainalytics research products,” Anti-Defamation League (ADL) CEO Jonathan Greenblatt said in a statement on Wednesday. “We look forward to ongoing engagement with Morningstar to ensure the expert recommendations are fully and effectively implemented.”
The ADL took a leading role in combating anti-Israel bias in ESG ratings, incorporating JLens in Nov. 2022. ADL noted at the time that BDS activists target firms managing ESG rated funds, which attracted over $500 billion in investments in 2021, a 55% increase from the previous year, according to JP Morgan. During 2022’s proxy season, a time when publicly traded companies hold annual meetings to assess performance and weigh suggestions from shareholders, Israel was named in eight of 20 resolutions targeting foreign governments, “making the country only second to China.”
Morningstar’s recommendations will shield ESG from political bias and increase its reliability, Louis D. Brandeis Center for Human Rights Under Law founder and chairman Kenneth L. Marcus explained in a statement applauding the report.
“Anti-Israel external forces are doing everything they can to infiltrate campuses, boardrooms, the [United Nations]., sports leagues, and the securities industry,” he said. “We commend Morningstar for engaging with us, examining their ESG product, and committing to make the changes necessary to ensure that their rating system is apolitical, objective, and honest. We believe that implementing the experts’ report is critical to achieving this goal.”
Ari Hoffnung, managing director of JLens, added that “investor are entitled to research that is both objective and devoid of any anti-Israel bias.”
Last July, Morningstar removed 109 negative “controversy ratings” that Sustainalytics subsidiary had given to companies operating in Israel. The firm has also stopped referring to the West Bank and East Jerusalem as ‘Occupied Palestinian Territory’ or ‘occupied territory” and committed to educating its employees about antisemitism and amassing information about the Israeli-Palestinian conflict from “independent, recognized experts.”
Morningstar, however, has repeatedly denied that it ever supported BDS. In June 2022, Morningstar CEO Kunal Kapoor issued a statement arguing that an external review of Sustainalytics found no evidence that it “encouraged divestment from Israel” but acknowledged that at least one of its departments singled out businesses “linked to the Israeli-Palestinian conflict” and “sometimes used inflammatory language and failed to provide sourcing attribution clearly and consistently.”
Follow Dion J. Pierre @DionJPierre.
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Father of Israeli Wounded in New Orleans: ‘Part of his Skull is Missing’
A member of the National Guard Military Police stands, in the area where people were killed by a man driving a truck in an attack during New Year’s celebrations, in New Orleans, Louisiana, US, Jan. 2, 2025. PHoto: REUTERS/Octavio Jones
JNS.org – In an interview, Israeli Hagai Levin described the impact of the injuries sustained by his son Adi, a member of the IDF Armored Corps, during the New Year’s Day attack in New Orleans by an ISIS-inspired terrorist who murdered 14 people and wounded dozens of others. The terrorist also died.
“His state fluctuates, but I’m optimistic. I’ll bring my son home. His life will change—he’ll have metal rods in his arms and legs, an open head wound and part of his skull is missing,” Hagai said.
“There are still injuries we’ll fully understand only in a month when we begin the head rehabilitation process. But he’ll return to us, and for that, we’re moving our home from the Golan Heights to Tel Aviv to be closer to Tel HaShomer Hospital [Sheba Medical Center in Ramat Gan].”
Adi remains bedridden, as does his friend and fellow IDF soldier Y. (who chooses to remain anonymous out of safety concerns). “I miss everyone terribly and am deeply grateful to the Jewish community here for their support,” Y. said.
The pair’s visit to New Orleans was part of a planned three-month road trip that took them from Nebraska to Los Angeles and then on to Texas and Louisiana. They did not make it to their planned destination of Florida.
Having seen the security camera video of the attack, Hagai said that the vehicle driven by Shamsud-Din Jabbar “hit Adi head-on, crushing his legs and head, dragging him along the road, and pushing his friend to the side.”
While praising the hospital as operating at an “incredible standard” and saying that “we are receiving exceptional care,” Hagai said that “despite their travel insurance, a single day of hospitalization here costs roughly the equivalent of the entire annual budget of Israel’s healthcare system combined. The expenses will exceed a million dollars.
“We are facing a long recovery ahead. He’s spent two weeks in the emergency room and will need several months in rehabilitation with complex surgeries. We won’t return to Israel before April.” Hagai said.
The post Father of Israeli Wounded in New Orleans: ‘Part of his Skull is Missing’ first appeared on Algemeiner.com.
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Netanyahu Hosts Trump Envoy on Gaza Hostage Talks
Steve Witkoff, founder of the Witkoff Group, gestures during a rally for Donald Trump at Madison Square Garden, in New York, US, Oct. 27, 2024. Photo: REUTERS/Andrew Kelly
JNS.org – Prime Minister Benjamin Netanyahu met on Saturday afternoon with President-elect Donald Trump’s Middle East envoy Steve Witkoff, in what was described as a “surprise visit” to discuss the multilateral negotiations with Hamas for the release of Israeli hostages and a ceasefire in Gaza.
Witkoff arrived in Israel after talks in Doha with Qatari Prime Minister Mohammed bin Abdulrahman Al Thani.
Channel 12 cited a “senior Israeli” saying that Trump has been personally involved in the matter over the last couple of days, expressing his desire to urgently cement a deal before he enters office on Jan. 20.
Netanyahu is expected to hold a security assessment after which he will decide whether to send an Israeli delegation to Doha headed by Mossad and Israel Security Agency (Shin Bet) chiefs David Barnea and Ronen Bar, respectively.
According to Ynet, “additional progress” has been made in the negotiations but disagreements remain.
The report mentioned the transition from stage one of the proposed truce—a “humanitarian” phase of releasing hostages—to stage two as the main hurdle. The sides are arguing about legal wordings and each is insisting on keeping a degree of “freedom of action,” Ynet reported.
Qatari-owned, London-based newspaper Al-Araby Al-Jadeed quoted a senior Hamas official as saying, “The final vision of the agreement is finished. There are arrangements between the mediators regarding the announcement of the agreement. We are all waiting for the envoy of Israeli Prime Minister Benjamin Netanyahu to arrive in Doha and render his approval for the latest amendments.”
However, various Arab- and Hebrew-language reports gave conflicting reports on whether Hamas agreed to hand over a list of live hostages held in the Gaza Strip.
During a press conference at Trump’s Mar-a-Lago estate in Palm Beach, Fla., on Tuesday, Witkoff, a Jewish businessman and longtime friend of the president-elect, expressed optimism about the ongoing discussions.
“I believe they’re doing an excellent job in Doha,” Witkoff said. “I’m hopeful that by the [Jan. 20] inauguration, we’ll have positive news to share on behalf of the president. It’s really the president’s vision, his reputation, and his words that are driving these negotiations. So, hopefully, everything will come together, and lives will be saved.”
When asked whether a deal could be reached before his inauguration, Trump said, “There better be.” He reiterated his stark warning about the fallout for Hamas if the hostages are not released.
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Los Angeles Issues New Evacuation Orders as Thickening Smoke Causes Health Emergency
Flames rise from a structure as the Palisades fire burns during a windstorm on the west side of Los Angeles, California, US, Jan. 8, 2025. Photo: REUTERS/Ringo Chiu
i24 News – The Palisades fire raging in the Los Angeles region shifted east on Friday night, triggering new evacuation orders and further aggravating the titanic health and safety emergency in America’s second largest city.
Palisades is the largest of six simultaneous wildfires that have devastated Los Angeles County neighborhoods stretching across an area larger than San Francisco since Tuesday, killing at least 11 people and damaging or destroying around 12,000 structures. The numbers are expected to rise once it is safe enough for firefighters to conduct house-to-house searches.
The LA Department of Public Health said it had declared a local health emergency and issued a public health officer order in response “to the widespread impacts of the ongoing multiple critical fire events and windstorm conditions.”
The statement further said that “the fires, coupled with strong winds, have severely degraded air quality by releasing hazardous smoke and particulate matter, posing immediate and long-term risks to public health.”
Allegations of leadership failures and incompetence were flying, with Governor of California Gavin Newsom and LA Mayor Karen Bass singled out for opprobrium.
Newsom ordered state officials to determine why a 117 million-gallon (440 million-liter) reservoir was out of service and some hydrants ran dry, calling it “deeply troubling.”
Los Angeles fire chief, Kristin Crowley, said city leadership failed her department by not providing sufficient funds for firefighting. She also pointed out the lack of water. “When a firefighter comes up to a hydrant, we expect there’s going to be water,” she said.
The post Los Angeles Issues New Evacuation Orders as Thickening Smoke Causes Health Emergency first appeared on Algemeiner.com.
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