National endorsers
State endorsers
What are Israel Bonds? Israel Bonds are loans from individuals and institutions to the Israeli treasury that help sustain the Israeli state economy. These bonds directly fund the Israeli military and government, including the Israeli military’s genocidal war on Gaza as well as forced displacement of Palestinian families from their homes, and the Israeli government’s separate-and-unequal system of apartheid.
Why demand Israel Bonds divestment? Halting the flow of money to the Israeli military and government deprives these institutions of the material resources that power violence against Palestinians. The message is clear: until Israel follows international law by ending its illegal apartheid system, illegal military occupation of Palestinian lands, immoral and unlawful attacks on Palestinians, and theft of Palestinian lands, the international community will continue to advocate against investment in the Israeli military, government, and Israeli corporations that enable and profit from this suffering.
How does my money flow through Israel Bonds to the Israeli military and government? Many public entities and community and financial institutions in New Jersey and across the U.S. choose to invest in Israel Bonds, which are direct loans to and investments in the Israeli military and government.
- State of New Jersey: The New Jersey Division of Investment, housed in the Department of the Treasury, currently holds approximately $30 million in Israel bonds. The Division of Investment manages the investment of public employee pension funds and other state reserves.
- Private retirement funds — especially index funds that include bonds — can include Israel Bonds, meaning that our personal funds and any employer-matched funds may be invested.
- Religious institutions — such as churches, synagogues, mosques, as well as their associated retirement funds — can technically invest in Israel Bonds. Read about the U.S. United Methodists and the Presbyterian Church (USA) Israel Bonds divestment victories.
- University and college endowments often can purchase Israel bonds or accept them as gifts of monetary value.
- Philanthropic foundations can be invested directly or indirectly in Israel Bonds, either through holding the bonds directly or by investing in big funds whose portfolios include Israel Bonds.
What are the goals of this campaign? In the short term, to convince the New Jersey Division of Investment not to renew their investment in Israel Bonds when the bonds mature in 2025 and 2026. A long-term goal of this campaign is to change state investment policy, either specifically regarding human rights violations by Israel or to pursue a more comprehensive investment strategy consistent with human rights, justice, and sustainability. We are not currently seeking an act of the New Jersey legislature to establish such a policy, nor are we proposing formal changes to Division of Investment investment policies at this time.
Who makes the decisions about investments in New Jersey? Currently, Shoaib Khan is the Director of the New Jersey Division of Investment, working under New Jersey State Treasurer Elizabeth Maher Muoio, who is appointed by the Governor of New Jersey. The New Jersey State Investment Council “formulates policies governing the investment of funds by the Director of the Division of Investment, and consults with the Director with respect to the work of the Division.” Gubernatorial appointees, many representing public employee unions whose pension funds are managed by the Division of Investment, serve on the Council.
How will we win this campaign? First, by harnessing the power of a large and growing block of New Jersey residents outraged by the Israeli genocide of Palestinians in Gaza and the longstanding policies of Israeli apartheid and ethnic cleansing. We need to direct our energies at the direct decision-makers (Director of Investment and State Investment Council) and those with significant influence over them (New Jersey Governor, leaders and members of public sector unions, etc). We will focus on New Jersey’s moral and ethical choices while also emphasizing that Israel bonds are an increasingly risky bet due to rising debt and credit downgrades.
Who is organizing this campaign in New Jersey? Members of Jewish Voice for Peace, Ceasefire Now New Jersey, New Jersey Peace Action, American Muslims for Palestine - New Jersey, and Palestinian American Community Center have initiated this campaign and are actively seeking additional organizational partners and individual volunteers.
How do I get involved? How can my organization support? Individuals interested in volunteering and organizations who want to endorse can do so using this form. Setting up a presentation for members of your organization, or one you are connected to, is a great place to start.
What is the relationship between the Israel Bonds campaign and the Boycott, Divestment, and Sanctions (BDS) movement? BDS is a nonviolent, proven form of economic activism to support human rights. These tactics to support Palestinian rights are modeled after the nonviolent movement to end South African apartheid, which ultimately was successful in great part due to international economic pressure campaigns started at the grassroots level. They have also been used successfully to push for civil rights reforms and an end to racial segregation in the United States, as well as to pressure California grape companies to agree to the demands of farmworkers for better wages and working conditions.
BDS is based on the idea that the Israeli military and government continue to violate Palestinian rights not only because of political impunity, but also because of the many corporations and institutions that support Israel in its actions. Boycott, divestment, and sanctions campaigns, therefore, target the institutions and companies that profit from or are complicit in the violation of Palestinian rights with the ultimate goal of changing the actions and policies of the Israeli government and military–working towards a world where Palestinians and all communities can live in safety, freedom, and dignity.
Has New Jersey ever considered human rights or other concerns in investment decisions? YES on multiple occasions. A law enacted by Governor Phil Murphy in 2022 requires New Jersey’s public worker pension and state annuity funds to cut financial ties with companies owned by the Russian or Belarus governments in response to the ongoing invasion of Ukraine. Similar laws were established in 2005 and 2007 to prohibit New Jersey from holding assets in companies doing business with the government of Sudan and Iran respectively.
What about New Jersey’s anti-BDS law? Defenders of Israeli apartheid have worked to blunt the growing global BDS movement by passing laws in some states, including New Jersey, that prohibit companies doing business with the state of New Jersey from boycotting Israel in any way. This law, signed by former Governor Chris Christie, does not directly prevent the New Jersey Department of Investment from not renewing Israel bonds when they mature.