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BDS Could Cost Universities Billions of Dollars, New ADL Report Says
Signs cover the fence at a pro-Palestinian encampment at Northwestern University in Evanston, Ill. on April 28, 2024. Photo: Max Herman via Reuters Connect.
Colleges and universities will lose tens of billions of dollars collectively from their endowments if they capitulate to demands to divest from Israel and companies that do business with it, according to a new report released on Thursday by JLens, a Jewish investor network that is part of the Anti-Defamation League (ADL).
Titled “The Impact of Israel Divestment on Equity Portfolios: Forecasting BDS’s Financial Toll on University Endowments,” the report presents the potential financial impact of universities adopting the boycott, divestment, and sanctions (BDS) movement, which seeks to isolate Israel from the international community as a step toward its eventual elimination.
The ADL describes its report as “the first of its kind” to measure the havoc BDS would wreak on university endowments, the core of a higher education institution’s financial health, by quantifying the returns for investment portfolios purged of Israel-linked companies.
“Our research demonstrates that university endowments that divest from Israel could face significant financial consequences,” JLens managing director Ari Hoffnung said in a statement. “Lower investment returns could compromise a university’s ability to provide scholarships, fund research, and invest in campus facilities.”
The numbers are harrowing. Adopting BDS, according to the report, would incinerate $33.21 billion of future returns for the 100 largest university endowments over the next 10 years, with Harvard University losing $2.5 billion and the University of Texas losing $2.2 billion. Other schools would forfeit over $1 billion, including the University of Pennsylvania, Stanford University, and Princeton University. For others, such as the University of Michigan and Dartmouth College, the damages would total in the hundreds of millions.
“This groundbreaking report approached the morally problematic BDS movement from an entirely new direction — its negative impact on portfolio returns,” New York University adjunct professor Michael Lustig said in a statement extolling the report. “JLens has done a great job in quantifying the financial effects of implementing the suggestions of this pernicious movement, and importantly, they ‘show their work’ by providing full transparency into their methodology, and properly caveat the points where assumptions must necessarily be made. This report will prove to be an important tool in helping to fight noxious BDS advocacy.”
The report adds that BDS proponents are capricious, making them unreliable investment advisers. They will add a company to the BDS “target list” for appearing to do business with Israel or Israeli companies and then fail to remove it even after the business ends. For example, JLens notes that BDS continues to name Microsoft as a “target” four years after it sold its stake in the Israeli software company AllVision. BDS proponents also offer conflicting reasons for divestment, with some limiting their grievance to the sale of weapons to the Israeli military and others aiming to halt any and all economic activity with Israel. Despite these inconsistencies, BDS proponents claim to speak with a unified voice.
“Additionally, the landscape of companies doing business in Israel is vast and ever-changing, making it challenging to compile a definitive list of BDS targets and that does not become quickly outdated,” JLens explained. “The list of potential BDS targets can expand at any time due to evolving geopolitical events and misguided activists campaigns. This dynamic nature of BDS targeting was exemplified during the editting phase of this research report, when BDS proponents expanded their calls for boycotts and divestments to include major corporations like Coca-Cola … this recent addition underscores the fluid nature of BDS campaigns and the potential for rapid shifts in targeted companies.”
American universities are largely rejecting demands to divest from Israel and entities linked to the Jewish state, but some have embraced divestment or other policies approximating it, Inside Higher Ed reported earlier this month, noting that California State University-Sacramento has said it will not invest in companies which “profit from genocide, ethnic cleansing, and activities that violate fundamental human rights,” an ambiguous turn of phrase that does not specifically mention Israel. Additionally, the outlet added, Union Theological Seminary in the City of New York has committed to implementing “socially responsible investment screens” that prevent investments in companies “substantially and intractably benefiting from the war in Palestine.”
As The Algemeiner has previously reported, Brown University’s Corporation of trustees will soon vote on a divestment proposal based on the demands of a group which calls itself the Brown Divest Coalition (BDC). According to The Brown Daily Herald, Brown president Christina Paxson initially only promised the protesters a meeting with members of the Brown Corporation, but the students pushed for more concessions and ultimately coaxed her into making divestment a real possibility.
JLens says in its report that Brown would lose $309 million dollars if it chooses to accept the investment advice of its undergraduates. The mere possibility of it is already causing damage. Earlier this month, a trustee of the Brown Corporation, Joseph Edelman, resigned from his position, citing the upcoming vote.
“It’s no coincidence that leading pro-boycott groups have ties to terrorist organizations that seek the annihilation of the Jewish people,” he wrote in an op-ed, published by the Wall Street Journal, announcing his resignation. “In the end, that is the goal of the BDS movement, and I can’t accept the treatment of a hate movement as legitimate and deserving of a hearing. Brown’s policy of appeasement won’t work. It’s a capitulation to the very hatred that led to the Holocaust and the unspeakable horrors of Oct. 7.”
Follow Dion J. Pierre @DionJ.Pierre.
The post BDS Could Cost Universities Billions of Dollars, New ADL Report Says first appeared on Algemeiner.com.
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Hezbollah Says Lebanon Move on Army Plan Is ‘Opportunity,’ Urges Israel to Commit to Ceasefire
Lebanese President Joseph Aoun, Prime Minister Nawaf Salam and members of the cabinet stand as they attend a cabinet session to discuss the army’s plan to disarm Hezbollah, at the Presidential Palace in Baabda, Lebanon, September 5, 2025. Photo: REUTERS/Mohamed Azakir
Hezbollah official Mahmoud Qmati told Reuters on Saturday that the group considered Friday’s cabinet session on an army plan to establish a state monopoly on arms “an opportunity to return to wisdom and reason, preventing the country from slipping into the unknown.”
Lebanon’s cabinet on Friday welcomed a plan by the army that would disarm Hezbollah and said the military would begin executing it, without setting a timeframe for implementation and cautioning that the army had limited capabilities.
But it said continued Israeli military operations in Lebanon would hamper the army’s progress. Speaking to reporters after the meeting, Lebanese information minister Paul Morcos stopped short of saying the cabinet had formally approved the plan.
Qmati told Reuters that Hezbollah had reached its assessment based on the government’s declaration on Friday that further implementation of a US roadmap on the matter was dependent on Israel’s commitment. He said that without Israel halting strikes and withdrawing its troops from southern Lebanon, Lebanon’s implementation of the plan should remain “suspended until further notice.”
Lebanon’s cabinet last month tasked the army with coming up with a plan that would establish a state monopoly on arms and approved a US roadmap aimed at disarming Hezbollah in exchange for a halt to Israeli military operations in Lebanon.
Qmati said that Hezbollah “unequivocally rejected” those two decisions and expected the Lebanese government to draw up a national defense strategy.
Israel last week signaled it would scale back its military presence in southern Lebanon if the army took action to disarm Hezbollah. Meanwhile, it has continued its strikes, killing four people on Wednesday.
A national divide over Hezbollah’s disarmament has taken center stage in Lebanon since last year’s devastating war with Israel, which upended a power balance long dominated by the Iran-backed Shi’ite Muslim group.
Lebanon is under pressure from the US, Saudi Arabia and Hezbollah’s domestic rivals to disarm the group. But Hezbollah has pushed back, saying it would be a serious misstep to even discuss disarmament while Israel continues its air strikes on Lebanon and occupies swathes of territory in the south.
Hezbollah Secretary General Naim Qassem last month raised the specter of civil war, warning the government against trying to confront the group and saying street protests were possible.
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UK Police Arrest Dozens at Latest Protest for Banned Palestine Action
Demonstrators attend the “Lift The Ban” rally organised by Defend Our Juries, challenging the British government’s proscription of “Palestine Action” under anti-terrorism laws, in Parliament Square, in London, Britain, September 6, 2025. Photo: REUTERS/Carlos Jasso
British police arrested dozens more people on Saturday under anti-terrorism laws for demonstrating in support of Palestine Action, a pro-Palestinian group banned by the government as a terrorist organization.
Britain banned Palestine Action under anti-terrorism legislation in July after some of its members broke into a Royal Air Force base and damaged military planes. The group accuses Britain’s government of complicity in what it says are Israeli war crimes in Gaza.
Police have arrested hundreds of Palestine Action supporters in recent weeks under anti-terrorism legislation, including over 500 in just one day last month, many of them over the age of 60.
On Saturday, hundreds of demonstrators gathered near parliament in central London to protest against the ban on Saturday, with many holding up signs that said: “I oppose genocide. I support Palestine Action.”
London’s Metropolitan Police said officers had begun arresting those expressing support for Palestine Action. Police did not say how many arrests were made but a Reuters witness said dozens of people were detained.
Palestine Action’s ban, or proscription, puts the group alongside al-Qaeda and ISIS and makes it a crime to support or belong to the organization, punishable by up to 14 years in prison.
“I can be unequivocal, if you show support for Palestine Action – an offense under the Terrorism Act – you will be arrested,” Met Deputy Assistant Commissioner Ade Adelekan said on Friday. “We have the officer numbers, custody capacity and all other resources to process as many people as is required.”
Human rights groups have criticized Britain’s decision to ban the group as disproportionate and say it limits the freedom of expression of peaceful protesters.
The government has accused Palestine Action of causing millions of pounds worth of criminal damage and says the ban does not prevent other pro-Palestinian protests.
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Macron’s Meeting with American Jewry ‘Won’t Happen’ Amid Palestinian Recognition Drive, Surge in Antisemitism
French President Emmanuel Macron speaks during a press conference in Paris, France, June 12, 2024. Photo: REUTERS/Stephane Mahe
i24 News – French President Emmanuel Macron attempted to set up a meeting with American Jewish leaders later this month on the sidelines of the United Nations General Assembly.
i24NEWS has learned that the meeting won’t happen, firstly because Macron was only available for the meeting ahead of the UN General Assembly during Rosh Hashanah, and yet, a person invited to meet with Macron and who has knowledge of the discussions told i24NEWS the sit-down simply wasn’t going to happen, anyway.
“I think the organizations, for the most part, would not have participated,” the person said, adding that AIPAC, the Anti-Defamation League and the American Jewish Committee would have likely received invitations, among other entities.
“The guy has a 15% popularity rating in France. It’s not our job to help him out,” the person said.
Asked by i24NEWS whether Macron’s push for greater Palestinian state recognition or his lack of action in tackling antisemitism at home led to the stance of organized American Jewry, the person said it’s more of “the climate” which allows one to say ‘Look, the American Jews met with me,’ regardless of the content.”
The person said they are sure, if a meeting would have happened, that everybody in the room would have taken a hard line with Macron, including his “statements on Israel, the failure to respond to antisemitism” and France’s announcement this summer that it will recognize a Palestinian state later this month, and is leading an effort to get more countries to do the same.
But, the person told i24NEWS they are convinced that, in the end, while no final decision actually had to be taken, there was enough pressure that a consensus would have been reached to decline the meeting.
Of the timing of Rosh Hashanah allowing for leadership to not be forced to officially say no to Macron, the person said “G-d saves us every time.”
Another source familiar with the matter noted that it cannot be ruled out that Macron may eventually succeed in arranging a meeting with certain representatives, as the organizations are not a single unified body. However, he is unlikely to be welcomed by the overwhelming majority of groups representing American Jewry.
i24NEWS has also learned that French President Emmanuel Macron explored the possibility of visiting Israel ahead of the convention, but was advised by the Prime Minister’s Office that the timing was inappropriate. The message came as Macron continues to push for recognition of a Palestinian state, a move Israel strongly opposes. Sources further told i24NEWS that Israel is weighing additional retaliatory measures against Macron, including the potential closure of the French consulate in Jerusalem, which primarily serves Palestinians in the West Bank.