Zohran Mamdani said he supports divesting New York City pension funds from Israel if elected mayor.
“I think we should not have a fund that is invested in violation of international law,” Mamdani said during a Sunday interview on CBS2 New York’s “The Point with Marcia Kramer.”
“I think that the current comptroller’s approach [Brad Lander] — as he has taken it with Israel bonds — is the right approach,” he added when pressed on the issue.
Pension funds of city government workers and retirees had about $40 million invested in State of Israel Bonds when Lander took office in 2022.
But Lander — an ally of Mamdani despite losing to the socialist in the Democratic mayoral primary — in effect completely divested from the Israel bonds that New York City had invested in since the 1970s. He chose not to reinvest in the bonds when they matured.
Lander has noted the city still invests more than $300 million in Israeli firms.
“The most important thing is to figure out where we are directly implicated,” Mamdani told Kramer. “And in the city pension fund, purchasing Israel bonds, that, to me, is something that is a clear indication of our values — and we know that our values are actually with international law.”
Though he hasn’t made it a major focus on his mayoral campaign, Mamdani, the Democratic nominee and frontrunner, has been clear that he supports the boycott, divestment and sanctions movement against the Jewish state.
But the Queens assemblyman — who even chanted “BDS” at one 2021 pro-Palestinian rally — stopped short of backing the call to divest from all Israeli companies, when asked.
In New York City, the mayor has appointees to the pension boards along with the comptroller and unions representing the workforce.
That means Mamdani, if elected, could attempt to battle the comptroller for votes on whether to invest in Israel bonds.
Manhattan Borough President Mark Levine, the Democratic nominee for comptroller who will likely take over from Lander next year, supports investing in Israel bonds, and a campaign spokesman repeated his position on Monday.
“Mark has been clear on his position on Israel bonds throughout the campaign. As comptroller, he will work closely with the other pension fund trustees to prioritize investments which has proven stability and strong returns for pensioners,” said Levine campaign spokesperson Annabel Lassally.
The head of Israel Bonds, in a rare move, issued a statement in response to Mamdani’s divestment comments.
“While we don’t comment on the statements made by candidates, what I can say is this: Israel Bonds is proud of the unprecedented outpouring of support — more than $5.5 billion in investments since October 7 — including major commitments from local governments around the country including the State of New York,” said Dani Naveh, CEO of Israel Bonds.
“The record-breaking investments we have seen in recent years demonstrates the confidence that Americans have in Israel’s strength and future.”
Former City Comptroller Scott Stringer slammed Mamdani’s attempt to block investment in Israel bonds.
“Any attempt by the next mayor to divest from Israel Bonds would be a colossal mistake,” Stringer said. “It’s been a solid investment going back to the 1970s.”
