New Jersey Gov. Chris Christie signed a law prohibiting the state’s public worker pension fund from investing in companies that engaged in the Boycott, Divestment and Sanctions (BDS) movement against Israel.
The $71 billion pension fund provides coverage for about 800,000 current and retired state workers.
The resolution stated, “It is important to the economic well-being of New Jersey that persons or entities conducting commercial trade and doing business in the State do not engage in boycotts of a legitimate and viable partner with whom New Jersey can enjoy open trade contracting,” the Jerusalem Post reported.
Christie said it’s in New Jersey’s best interest to enact a statutory prohibition stopping the investment of public employee retirement funds in companies boycotting Israel.
New Jersey now joins nearly a dozen U.S. states who have passed anti-BDS legislation over the past year.
Israeli Ambassador to the United Nations Danny Danon welcomed the latest move by New Jersey, saying “state after state, we see our most important ally, the United States, continuing to stand by Israel in the fight against BDS. Legislative measures like the one signed today brings us closer to victory.”