NY seminary votes to divest from companies with connections to Israel

Union Theological Seminary in New York City voted to divest from companies that it claims are “profiting from the present war in Palestine.”

Union Theological, which describes itself as dedicated to “[p]rogressive theology” and “social justice,” announced on May 9 an update to its investment policy that will see it break ties with multiple businesses, including companies that have connections to the Jewish State. 

[RELATED: LIKE IT NEVER LEFT: Columbia students re-occupy campus as alumni weekend begins]

Union Theological stated: “Over the decades, we have developed what are called ‘socially responsible investment (SRI) screens’ to express our values and not financially support damaging and immoral investments, including our early divestment from the dehumanizing system of apartheid in South Africa.”

“With respect to companies that are profiting from the present war in Palestine, we continue to hold these standards high and have taken steps to identify all investments, both domestic and global, that support and profit from the present killing of innocent civilians in Palestine, whose numbers are now over 34,000 – and a humanitarian crisis of ever-growing magnitude,” it continued. 

“Union’s president, faculty, and students have repeatedly made strong public calls for an immediate ceasefire and will continue to do so until this continually escalating war has stopped. These calls are supported by today’s decision by Union’s Investment Committees to withdraw support from companies profiting from the war,” the seminary wrote. 

The institution announced that, though its investments in businesses it denounced as alleged war profiteers were not significant, it still hopes divestment would have a beneficial impact: “Although our investments in the war in Palestine are small because our previous, strong anti-armament screens are robust, we hope that our action today will bring needed pressure to bear to stop the killing and find a peaceful future for all.”

The school revealed that it has been “working on this decision since November of 2023,” and that this decision has “required research and exploration into our investment portfolio, and that research and monitoring will continue.”

Regarding its new policy, Union Theological wrote: “We are revising the section of our investment policy statement section pertaining to responsible investing to include an overt reference to the Israel-Palestine hostilities, in addition to current robust policies regarding fossil fuels, military weapons, private prisons, etc.,” and “[w]e are joining the Interfaith Center on Corporate Responsibility (ICCR) so that in addition to our individual institutional divestments, we can align ourselves with other like-minded activist institutions engaging with corporations on their activities related to human rights.”

[RELATED: Wesleyan University strikes agreement with Hamas-endorsed campus occupiers, will vote on divestment]

The institution is also “exploring investments that proactively support humanitarian and entrepreneurial companies doing positive work in the region.”

Union Theological Seminary pointed Campus Reform to its press release on divestment when asked for comment. 

Campus Reform has reached out to David Closson, Director of the Center for Biblical Worldview at Family Research Council, for comment. This article will be updated accordingly.