(New York City, September 22, 2025) — Any city comptroller should divest from Israel Bonds and from companies that profit from or contribute to Israel's unlawful occupation and abuses, DAWN said in a letter today to New York City Comptroller Brad Lander. The letter commends the Comptroller for ending the City's Israel Bonds holdings and urges a review of remaining Israel-related investments to ensure compliance with international law, the UN Guiding Principles on Business and Human Rights, and the City's ESG criteria.
In a significant step toward accountability and ethical investment, New York City Comptroller Brad Lander has ended all of the City's holdings in Israel Bonds. This move, completed earlier this year, aligns New York City with international legal standards and its fiduciary duty to protect the city's pension funds from political and financial risks.
When Comptroller Lander took office in 2022, the City's pension funds held nearly $40 million in Israel Bonds. By early 2025, the City had sold off the last $1.17 million through the Police Pension Fund, fully eliminating its holdings. Just as New York City divested from apartheid South Africa in 1985, this decision represents a historic continuation of the City's role in upholding human rights through responsible financial choices.
DAWN's letter to Comptroller Lander highlights how investments in Israel Bonds directly finance Israel's military operations and ongoing human rights abuses in Gaza and the West Bank. With major credit agencies downgrading Israel's credit rating since October 7, 2023, these bonds also pose significant financial risks to pension beneficiaries. Continuing to hold or purchase Israel Bonds, DAWN emphasized, would violate international law and fiduciary obligations.
The letter also notes that Israel Bonds expose the City to potential legal challenges. Similar lawsuits have already been filed in other states, where residents argue that such politically motivated investments breach fiduciary duty and put public funds at risk. By divesting, New York City has avoided these legal pitfalls while reinforcing its global reputation as a leader in human rights and responsible governance.
At the same time, DAWN urged the Comptroller to review the City's remaining $315 million in other Israel-related investments, including stocks and real estate, and to ensure all public funds are aligned with international law and ethical standards. Ending support for companies complicit in Israel's occupation and apartheid regime would bring the City fully in line with its obligations under international law and its own investment principles.
Read DAWN's full letter to Comptroller Brad Lander [here].
