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2 of NYC’s 5 public pension funds are vulnerable to a mayor-backed Israel divestment push
The man who is likely to be New York City’s top finance watchdog under Zohran Mamdani — assuming they both win their races on Tuesday — has said he does not believe Mamdani could divest the city’s pension funds of their investments in Israel.
“Just doesn’t have the votes for that,” Mark Levine, the likely next comptroller, told the Jewish Telegraphic Agency in September.
But in fact, Mamdani would be able to stack the boards of two of the city’s five pension funds such that divestment from Israel could be on the table, according to a JTA analysis — and some of Mamdani’s supporters say they are optimistic.
“We have hope in a Mamdani administration,” said Leah Plasse, a school-based social worker who has been lobbying for two years for the Teachers’ Retirement System to divest from Israeli assets.
As the election draws close and Mamdani maintains his lead in the polls, Jewish New Yorkers are wondering about how a mayor who is a longstanding supporter of the Boycott, Divestment and Sanctions movement against Israel could enact his vision in New York City.
Mamdani has stated his intention not to invest city funds in Israel bonds, in keeping with the current comptroller’s decision not to reinvest when $39 million in bonds matured in 2023.
But the city’s pension funds hold Israel investments beyond Israel bonds, which are issued by the Israeli government. The BDS movement calls for divesting from “all Israeli and international companies that sustain Israeli apartheid” — expanding targets to include most Israeli companies as well as non-Israeli companies that do business with the Israeli government.
The Teachers’ Retirement System’s Israeli investments include military technology companies — which Plasse and the group NYC Educators for Palestine have honed in on — as well as a variety of businesses like energy companies, food manufacturers and fuel companies.
Altogether, the city’s five public pension funds contain approximately $315 million in Israeli assets, according to the comptroller’s office. Mamdani has not indicated an intention to push for full divestment, but he also has not denied the possibility when asked.
Asked about doing so in a JTA questionnaire last week, Mamdani responded, “I support the approach of the current comptroller, Brad Lander, to end the practice of purchasing Israel bonds in our pension funds, which we do not do for any other nation.” He also did not specifically respond to part of that question which asked how else he might advance the cause of BDS as mayor.
What’s clear is that if Mamdani chose to make divestment a priority, pathways exist within the city’s pension fund management where headway could be possible.
For each of the city’s five pension funds to make any investment decisions, its board of trustees must vote in favor. Those boards vary in size, but typically consist of the comptroller, an appointee by the mayor and a number of labor representatives. Recommendations are made to those boards by the comptroller’s in-house Bureau of Asset Management.
Levine emphasized that a mayor could not “singlehandedly” overrule the comptroller’s recommendations to divest from Israel. But on boards where the mayor has more influence over the makeup of the trustees, the mayor could do so with the help of his or her appointees.
The Board of Education Retirement System, for example, has a 28-person board of trustees — a 15-person majority of whom are appointed by the mayor. Of those 15 mayoral appointees, one is the schools chancellor, one is an independent appointee, and the other 13 are the mayoral appointees on the city’s Panel for Educational Policy. (Mamdani has said he wants to reduce the influence of the mayor on the PEP.) The number of votes required to pass a resolution in the BERS is 15, though that figure must include one of the board’s two employee-elected members.
The board of the Teachers’ Retirement System, meanwhile, consists of seven members, and requires four votes to pass a resolution. Three of the members are mayoral appointees, one represents the city comptroller, and the other three are elected by the teachers on staggered three-year terms.
The three teacher members on the board now are all drawn from the teachers union’s leadership caucus. The union, the United Federation of Teachers, endorsed Mamdani.
The other three pension funds — for police, firefighters and city employees — are less susceptible to mayoral influence because the mayor appoints a smaller proportion of members.
While the movement to boycott Israel has called for divestment since 2005, advocacy has ramped up in many places in the last two years during the Israel-Hamas war in Gaza. In New York City, pro-Palestinian advocacy groups have gained little traction under an Eric Adams mayoral administration that is not sympathetic to their activism.
In fact, the Teachers’ Retirement System board has been resistant to advocacy for divestment, according to Plasse, who noted that the board “voted to close the public comment period after 1.5 years of us coming to speak about divesting our pension.”
Plasse said she was told this change was made for the sake of consistency, as no other pension funds’ board meetings include public comment periods. But she said it felt “quite clear” the real reasoning was to stifle her and her group’s “continued advocacy.”
Indeed, groups such as NYC Educators for Palestine and Workers for Palestine have regularly sent representatives to the public meetings of the pension boards. In public comments, the activists have pointed to examples like the city’s divestment from South African businesses in the 1980s, and more recently, the funds’ unilateral decision to divest from Russian securities in 2022, to show a precedent.
“And just on a personal note, before the holidays, as a Jew, before Hanukkah begins, I truly believe in tikkun olam, which is the repairing of the world,” Plasse said in the public comment period of a December 2024 board meeting of the Teachers’ Retirement System, according to meeting minutes. “We are funding genocide. That is against my faith.”
Any effort to divest from Israel would likely butt up against Levine, who is expected to win the race for comptroller. Levine, who is Jewish, endorsed Mamdani but has said he wants the city to resume investing in Israel bonds. NYC Educators for Palestine joined the anti-Zionist group Jewish Voice for Peace outside Levine’s office last week for a protest they named “Break the Bonds,” calling his intention to invest in Israel bonds one that puts “deadly politics over the interests of working New Yorkers.”
Levine, however, says he isn’t motivated by pro-Israel sentiment. The investments, he notes, have always been sound for the city. (Levine’s campaign did not respond to requests for a follow-up interview.)
That means the issue of Israeli investments — which, according to Levine, are a sturdy piece of an investment portfolio that serves more than 750,000 New Yorkers — could bring some of Mamdani’s deeply held values into conflict. In response to JTA’s question on divestment, he emphasized the central promises of his campaign.
“My priority as mayor will be to deliver on the affordability agenda I ran on: freezing the rent, universal childcare, and fast and free buses,” Mamdani answered. “That will always be the core of my administration.”
And advocates for divestment say they won’t stop pushing the case before the pension boards. At October’s Teachers’ Retirement System board meeting, Plasse handed out a written statement calling for an investment analysis and declaring that her group would be undeterred by the board’s repeated denials.
“I am more than open to meet with anyone about anything that has been discussed here today,” the statement read. “But please know, we are only becoming more embolden [sic] to demand this change. This is our money and the time will come.”
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JD Vance continues to minimize right-wing antisemitism as fringe influencers gain ground
(JTA) — Vice President JD Vance again downplayed the idea that conservatives should safeguard their ranks against antisemitism, a week after his ally Tucker Carlson hosted yet another antisemitic conspiracy theorist on his web show.
Vance’s latest brief comments, made Tuesday during an interview with conservative radio host and CNN pundit Scott Jennings, came in response to Jennings asking, “Does the conservative movement need to warehouse anybody out there espousing antisemitism in any way?”
“No it doesn’t, Scott,” the vice president replied, toward the end of their interview.
Vance continued by asserting that conservatives, drawing on Christian influences, were welcoming of all backgrounds.
“I think we need to reject all forms of ethnic hatred, whether it’s antisemitism, anti-Black hatred, anti-white hatred,” he said. “And I think that’s one of the great things about the conservative coalition, is that we are, I think, fundamentally rooted in the Christian principles that founded the United States of America.”
He added, “And one of those very important principles is that we judge people as individuals. Every person is made in the image of God. You judge them by what they do, not by what ethnic group they belong to.”
Vance’s comments follow a series of similar remarks by the vice president over the past month as major right-wing groups such as Turning Point USA and the Heritage Foundation grapple with the growing influence of Nick Fuentes and other openly antisemitic forces. Vance has also indicated his own skepticism in the U.S.-Israel relationship and stated that stopping immigration is the best approach to fighting antisemitism.
One Jewish conservative analyst still employed with Heritage — after a slew of employees left for a competing group — criticized Vance’s latest comments.
“Need a better answer from @JDVance on why the conservative movement should not tolerate antisemitism than what is effectively the equivalent of @TheDemocrats’ ‘…and Islamophobia’ response,” Daniel Flesch, a Heritage policy analyst for the Middle East and North Africa, posted on the social network X.
Flesch referenced his contention that Democratic leaders’ stock answer to addressing antisemitism is that it must be paired with addressing Islamophobia, rather than treated as its own unique problem.
Among Jewish conservatives’ biggest areas of consternation within the party right now: Carlson, the media figure who has platformed Fuentes and other conspiracy theorists while also maintaining close ties with Turning Point, Heritage and Vance himself. This week in Israel’s Knesset, a lawmaker in Prime Minister Benjamin Netanyahu’s Likud party denounced Carlson and fellow podcaster Candace Owens by name in an English-language speech.
Last week Carlson continued to fan the flames by hosting Ian Carroll, a conspiracy theorist who has proclaimed “Israel did 9/11”; that “Israel did their best to embellish and enflame the history books” on the Holocaust; and that sex trafficker Jeffrey Epstein was “working on behalf of Israel.”
Carroll has made inroads in the conservative media sphere for a while. He appeared on Joe Rogan’s mega-popular podcast last year and, in 2024, moderated a campaign event for then-presidential candidate Robert F. Kennedy Jr., today President Donald Trump’s secretary of health and human services. Carroll’s appearance on Carlson’s show came after both Trump and Vance refused to denounce Carlson for his friendly interview with Fuentes last year.
In their Jan. 2 interview, Carroll and Carlson primarily discussed the 2017 mass shooting at a music festival in Las Vegas. Carroll shared numerous conspiracy theories about the events of that evening, during which the shooter also fired rounds at a jet fuel tank stored at a nearby airport.
“And then there’s things happening at the airport that are strange, that there’s some shooting happening at the airport. So it’s like, is this a gang war between the Italian mob and the Jewish mob? Is this a CIA operation that went wrong?” Carroll muses at one point. “Is this, like, a Mossad operation? Any of those things would need to fit the facts.”
Carroll continued, “In lieu of enough facts, you can try to fit a perpetrator to the facts and invent explanations that will work.”
Later in the interview, Carlson muses about Carroll directly to him, “I’ve never seen anybody come to prominence faster, ever, in our world. And that’s led to a lot of speculation that you’re, like, a CIA officer in disguise.”
Carroll then offers, “Or I’m like, Mossad.”
To which Carlson concludes, “My personal explanation is you’re just an amazing explainer and a diligent researcher, and you’re really interested in what’s true. And those are the three qualities that make a successful person in our world.”
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EU-Funded NGO Backed Online Platform Targeting Jewish Businesses in Catalonia
Supporters of Hamas demonstrate outside the Israeli Embassy in Madrid, Oct. 18. Photo: Reuters/Guillermo Yllanes Gonzalez
The controversial online platform mapping Jewish-owned businesses, schools, and Israeli-linked companies in Catalonia, a region in northeastern Spain, was promoted by an EU-funded non-governmental organization.
On Tuesday, NGO Monitor — an independent Jerusalem-based research institute that tracks anti-Israel bias among nongovernmental organizations — released new information showing that Engineers Without Borders – Catalonia (ESF-C) and Universities with Palestine (UAP) jointly promoted the BarcelonaZ project on social media, identifying themselves as its primary backers.
First reported by the local Jewish outlet Enfoque Judío, the interactive map was launched by an unidentified group claiming to be “journalists, professors, and students” on the French-hosted mapping platform GoGoCarto.
As a publicly accessible and collaboratively created online platform, the map marked over 150 schools, Jewish-owned businesses — including kosher food shops — and Israeli-linked as well as Spanish and international companies operating in Israel, labeling them as “Zionist.”
“Our goal is to understand how Zionism operates and the forms it takes, with the intention of making visible and denouncing the impact of its investments in our territory,” the project’s website stated.
According to NGO Monitor’s newly released report, ESF-C is a European Union–funded NGO running a Youth Internship Program subsidized by the Public Employment Service of Catalonia, with 40 percent co-financing from the European Social Fund Plus — the EU’s primary program for funding employment, education, and social initiatives.
The EU Financial Transparency System shows that ESF‑C partnered on two EU grants worth about $2.8 million from 2019 to 2023 and received at least $164,000 in funding.
Jewish leaders in Spain have strongly denounced the BarcelonaZ initiative, warning that it fosters further discrimination and hatred against the community amid an increasingly hostile environment in which Jews and Israelis continue to be targeted.
“The mapping and boycotting of Jewish businesses in Catalonia is an echo of some of the darkest chapters in history, including the prelude to the Holocaust in Nazi Germany,” the Combat Antisemitism Movement’s Director of European Affairs, Shannon Seban, said in a statement.
“The organizers of this initiative put a target on the backs of Spanish Jews, at a time when Jews are being hunted across the globe, as seen so horrifically in Australia just three weeks ago,” she said, referring to the deadly attack on a Hanukkah celebration at Sydney’s Bondi Beach, which killed 15 people and wounded at least 40 others.
“Clear incitement to violence of this nature must not be platformed or tolerated by internet companies or government authorities,” Seban continued.
On its website, ESF-C describes its mission as promoting “a fair international society, which does not exclude anyone,” and highlights its commitment to “non-denominationalism and non-partisanship.” Yet, the NGO’s 2024 annual report also asserts that it “cannot ignore the Palestinian resistance, a clear expression of the struggle for freedom of all oppressed peoples.”
In a social media post, the NGO also accused Israel of “genocide” during its defensive campaign against the Palestinian terrorist group Hamas, describing its platform as “a resource designed to inform, raise awareness, and mobilize the educational and student community in Catalonia.”
“The attacks that began on Oct. 7 have involved water and electricity cuts, the boycott of essential water infrastructure, and the contamination of Palestinian water sources,” ESF-C wrote in an Instagram post, without mentioning the Hamas-led invasion of and massacre across southern Israel on Oct. 7, 2023, which triggered the war in Gaza.
“The violation of these basic rights is a key weapon used by the State of Israel to perpetuate genocide,” the statement read.
NGO Monitor also revealed that UAP is a network of Catalan faculty- and student-led anti-Israel organizations that co-sponsored the BarcelonaZ project.
Last year, UAP organized a “People’s Court” at Complutense University of Madrid on what it called the “Palestinian genocide,” with attendance from several terror-linked NGOs and individuals, including Samidoun, Masar Badil, Al-Haq, and Raji Sourani, NGO Monitor reported.
Several community organizations have filed complaints with GoGoCarto, demanding the site’s removal and arguing that it violates French laws against hate speech and discrimination.
Earlier this week, GoGoCarto announced it had removed the BarcelonaZ project from its website after local groups denounced the initiative as blatantly antisemitic and dangerous.
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Knesset member from Netanyahu’s party decries ‘new enemy’: Tucker Carlson and Candace Owens
(JTA) — In an address to the Knesset on Monday, Likud lawmaker Dan Illouz decried what he said was a “new enemy” rising within American politics: Tucker Carlson and Candace Owens.
“We are used to enemies from outside. We fight terror tunnels of Hamas. We fight the ballistic missiles of Iran. But today I look at the West, our greatest ally, and I see a new enemy rising from within,” said Illouz, who is originally from Canada originally, in an English address. “I am speaking of a poison being sold to the American people as patriotism. I’m speaking of the intellectual vandalism of Tucker Carlson and Candace Owens.”
Illouz’s comments come as the Republican party has been roiled in recent months by debates over the mainstreaming of antisemitic influencers within the GOP.
טאקר קרלסון וקנדיס אוונס הם לא פטריוטים – הם ונדלים אינטלקטואלים. הם טוענים שהם נלחמים בשמאל הקיצוני, אבל הם בדיוק אותו דבר: אותה שנאה למערב, אותו רלטיביזם מוסרי ואותו ניסיון להחריב את המורשת שלנו ואת המערב. pic.twitter.com/ygN70WtGEw
— דן אילוז – Dan Illouz (@dillouz) January 7, 2026
In October, conservative commentator Tucker Carlson hosted far-right antisemitic influencer Nick Fuentes on his platform, igniting outrage from Jewish conservatives who warned of the growing reach of antisemitic voices.
Owens has long made antisemitic rhetoric a hallmark of her YouTube channel, which has 5.7 million subscribers. A recent analysis of her content by the Jewish People Policy Institute found that three-quarters of her videos that mentioned Jews were antisemitic.
“They claim to fight the woke left. They are no different than the woke left,” said Illouz. “The radical left tears down the statues of Thomas Jefferson, Tucker Carlson tears down the legacy of Winston Churchill. The radical left says Western civilization is evil, Candace Owens says the roots of our faith are demonic. It is the same sickness.”
Carlson and Owens are among the right-wing influencers who have made opposition to Israel a centerpiece of their output, at a time when support for Israel is declining among conservatives, particularly younger conservatives.
In November, Amichai Chikli, the Israeli Diaspora minister, echoed Illouz’s concerns in an interview with the New York Post, telling the outlet that he was “far more concerned about antisemitism on the right than on the left.” The comments were notable because Chikli is himself a right-wing, anti-“woke” warrior who, in a first for Israel, has stoked relationships with far-right European parties that in some cases have ties to the Nazis.
“One of the worst moments was when a popular conservative broadcaster called one of the most vile Holocaust deniers in America ‘one of the most honest historians.’ That legitimizes hate — it normalizes it,” Chikli told the New York Post, appearing to refer to Carlson’s past praise of the Holocaust revisionist Darryl Cooper.
Chikli also warned against the rising influence of Fuentes and Cooper among young Americans.
“Antisemitism has become fashionable for Gen Z,” Chikli continued. “They listen to podcasts, not professors. When people like Nick Fuentes or Darryl Cooper are treated as thought leaders, that’s dangerous. These are neo-Nazis.”
The Times of Israel asked Illouz whether he was worried about appearing to interfere with American politics. “Defending the alliance between America and Israel is not interfering,” he said. “I am in touch with many pro-Israel conservatives who know that Candace and Tucker are a threat to America as much as to Israel.”
Top GOP officials, including Vice President JD Vance, have largely dismissed calls from Jewish conservatives, including Ben Shapiro, and others to draw a line against antisemitic influencers.
“Do you think you are the first to try to delegitimize the Jewish people? We are the people of eternity,” said Illouz toward the conclusion of his address, adding that “we will be here long after your YouTube channels are forgotten dust.”
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