Florida Attorney General Ashley Moody is leading a multistate coalition of state attorneys general in probing whether MSCI, Inc., a large investment company, is embracing the boycott, divestment, and sanctions, or BDS, movement against Israel.
At least 38 states in the U.S. have taken action to oppose the BDS movement.
“Israel is our greatest ally in the Middle East, and in Florida, we unequivocally support their right to exist. The BDS movement has one goal, the complete elimination of Israel as a Jewish state. The allegations against MSCI are deeply disturbing and we have called for a quick response from the company’s leadership directly addressing our concerns," said Moody.
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In August 2022, Attorney General Moody and 16 other state attorneys general wrote to Morningstar, expressing "serious concerns related to reports that Morningstar—through its wholly owned subsidiary, Sustainalytics—may be furthering the boycott, divestment, and sanctions (BDS) movement against Israel." Following the Morningstar letter, the company conducted an internal review and eventually agreed to improve its business practices.
According to a report by the Jewish Times, "Like Morningstar, which allegedly assigned damaging ratings to a dozen companies that it said committed 'human rights violations' simply for conducting business in Judea and Samaria and eastern Jerusalem, MSCI's environmental, social and corporate governance (ESG) ratings appear to downgrade companies for the same reason."
In a letter sent Thursday to MSCI, Attorney General Moody and the coalition of attorneys general state:
"As indicated by our efforts against Morningstar, we reject the BDS movement in all manifestations, particularly given the current rise in antisemitism in the United States. Having said that, one of the claims against MSCI is particularly egregious. According to JNS, MSCI withheld ESG points from an Israeli company due to its 'role in the construction of security and surveillance barriers designed to safeguard Israelis from terrorists.' It is unimaginable to us that MSCI would maintain its posture following the terrorist attacks on Israel last October."
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Given the gravity of the charges, the attorneys general have requested a response from MSCI Chairman and CEO Henry A. Fernandez by April 18.
Attorney General Moody is joined in the letter by the attorneys general of the following states: Alabama, Alaska, Arkansas, Georgia, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Montana, Nebraska, Oklahoma, South Carolina, Texas, Utah, Virginia and West Virginia.
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