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Republican AGs investigate investment company over anti-Israel policies | National

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www.thecentersquare.com – By Bethany Blankley | The Center Square contributor – 2024-04-10 12:24:00

(The Center Square) – A coalition of Republican attorneys general has launched an investigation into MSCI, a New York-based investment company managing roughly more than $5 in assets, after allegations surfaced of its boycott, divestment and sanctions (BDS) policies against Israel.

The coalition, led by Florida Attorney General Ashley Moody, gave MSCI chairman and Henry Fernandez until April 18 to respond.

They contacted Fernandez after the Jewish Syndicate reported that MSCI’s ESG policies appear to downgrade dozens of companies “that it said committed ‘human rights violations’ simply for conducting business in Judea and Samaria and eastern Jerusalem.”

JNS reported that it found “that MSCI has tagged nine companies that generated ESG controversy ratings at Morningstar for doing business in Judea and Samaria with its own such ratings” and contacted Florida officials.

In a letter to Fernandez, the AGs express “great concern” over the report saying, “the states we represent unequivocally support Israel’s right to exist and oppose the BDS movement.”

The coalition represents the states of Alabama, Alaska, Arkansas, Florida, Georgia, Indiana, Iowa, Kentucky, , Mississippi, Montana, Nebraska, Oklahoma, South Carolina, , Utah, Virginia and West Virginia.

“While the BDS movement ‘markets itself as a nonviolent movement’ designed to pressure Israel to ‘withdraw to its pre-1967 borders,’ its leadership in reality ‘seeks nothing less than the elimination of Israel as a Jewish ,’” they said. “According to a cofounder of the BDS movement, it is ‘but the first stage on the road to fulfilling the vision of the dismantling of Israel.’ The movement often focuses on pressuring large investment portfolios – such as those run by municipality or – to divest from companies that ‘aid Israel’s occupation.’”

They also said the BDS movement has two goals: “to economically cripple Israel and create a false narrative of Israel’s occupation and colonization.”

MSCI has not released a statement in response to the inquiry. In a report released last month, it states that according to data analyzed in two indexes, companies with higher MSCI ESG ratings outperformed their lower-rated counterparts over the last 11 and 17 years, according to when the indexes were launched. MSCI also has several Israel indexes created to “measure the performance of the large and mid and small cap segments of the Israeli equity market.”

The AGs’ inquiry into MSCI followed a similar inquiry in 2022 into Chicago-based Morningstar and its subsidiary, Sustainalytics. The AGs of Kentucky and West Virginia led a coalition raising concerns about Sustainalytics, an ESG ratings and research firm that manages roughly $264 billion in assets, allegedly providing financial ratings and creating a “watchlist” of financial companies located in “occupied territories” in Israel. Last October, Florida placed Morningstar-Sustainalytics on its list of “Scrutinized Companies that Boycott Israel.”

Morningstar then conducted an internal investigation and subsequently committed to implementing seven recommendations made by the end of 2024 after working with a coalition of Jewish , Jewish Federations of North America says. The recommendations involve Morningstar changing its business practices and eliminating anti-Israel bias in company ratings. A review of Morningstar-Sustainalytics’ policies found that it rated a disproportionate percentage of Israeli companies or companies operating in Israel based on “faulty assumptions, poor sourcing, and flawed models [which] threatened to deny these companies access to capital from ESG funds and mar their reputations.”

A result of the coalition’s work with Morningstar “has already resulted in significant change,” Jewish Federations said. “Last year, Morningstar unfair controversy ratings from over 100 firms operating in or doing business with Israel, a 94% decrease.”

Pointing to its efforts against Morningstar, the coalition said, “we oppose the BDS movement in all forms, especially given the recent rise in antisemitism across the United States.” They also raised concerns about an “egregious” allegation that MSCI deducted ESG points from an Israeli company because it constructed security and surveillance barriers to protect Israeli from terrorists.

So far, at least 38 states have taken actions to oppose the BDS movement, according to the Jewish virtual library, a project of the American-Israeli Cooperative Enterprise.

According to a recent report, in the three months after Hamas attacked Israel on Oct. 7, 2023, antisemitic incidents increased throughout the U.S. by 360% – after the total number of antisemitic incidents were already at a historic high in 2022, The Center Square reported.

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News from the South - Georgia News Feed

Georgia officials announce $100 million relief plan for farmers | Georgia

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www.thecentersquare.com – By Kim Jarrett | – 2024-11-01 12:28:00

SUMMARY: The Georgia Financing and Investment Commission has proposed a $100 million relief plan for the state’s agriculture sector affected by Hurricane Helene. This will be sourced from the Capital Projects Fund included in the amended fiscal budgets for 2024 and 2025. The plan allocates $75 million for loans to the agriculture industry and $25 million for timber industry cleanup efforts. Lt. Gov. Burt Jones emphasized the significant losses by farming and timber communities. With agricultural losses estimated at $6.46 , this investment aims to recovery and rebuilding efforts as the state collaborates with federal partners.

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News from the South - Florida News Feed

Senate seat, amendments on the line in Florida elections | Florida

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www.thecentersquare.com – By Steve Wilson | – 2024-11-01 16:11:00

SUMMARY: On Tuesday, Florida voters will decide on two important ballot initiatives—recreational marijuana legalization and rights—alongside a competitive U.S. Senate race between Republican incumbent Rick Scott and Democratic challenger Debbie Mucarsel-Powell. Polls show Scott leading by narrow margins, with his trailing behind that of former . Amendments 3 and 4 enjoy strong backing, with recreational at around 60% support, and the abortion rights amendment close to 58%. Both initiatives have raised significant funds, totaling $256 million, primarily from notable and donors in the respective causes.

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News from the South - Tennessee News Feed

Tennessee students pick their favorites in mock election | Tennessee

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www.thecentersquare.com – By Kim Jarrett | – 2024-11-01 14:09:00

SUMMARY: In Tennessee’s 2024 Student Mock Election, former and U.S. Sen. Marsha Blackburn emerged as top favorites, securing 65% and 63.4% of votes respectively. Over 43,744 from various schools participated, with Trump outperforming Vice President Kamala Harris, who garnered 35%. Blackburn surpassed Rep. Gloria Johnson, who received 36.6%. This year’s mock election aimed to engage students in the , a program initiated by Secretary of State Tre Hargett in 2016. Meanwhile, early voting for the actual general election saw a turnout of 45.88% of registered voters in Tennessee, slightly lower than 2020.

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