Montana, Iowa, and Tennessee have launched investigations into whether the investment behemoth MSCI has engaged in Boycott, Divestment, and Sanctions (BDS) practices by issuing harmful ratings to companies over their Israeli ties, potentially encouraging clients away from investing in them.
As part of its environmental, social, and governance (ESG) scoring, MSCI flagged at least nine companies as controversial for doing business in Israel, a Jewish News Syndicate investigation found. In response, the three U.S. states are demanding MSCI turn over documents showing how Israeli ties affected ESG ratings or inclusion in any exchange-traded funds. They also demanded information about what the investment firm advised clients about doing business in the Jewish state or with Israeli parties.
MSCI manages some $5.4 billion in assets and offers investing guidance for clients. Investors who are socially conscious or fear getting flagged themselves may avoid putting money into companies marked with human rights concerns.
“My support for Israel will not waiver and neither will Montana’s. I’m deeply concerned by the reports of discrimination against Israeli companies,” Montana attorney general Austin Knudsen told the Washington Free Beacon. “Should we find MSCI has been involved in any illegal business practices, I will do everything in my power as attorney general to hold them accountable and continue to protect Montanans from unlawful and discriminatory business practices.” […]
— Read More: freebeacon.com
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