Attorney General Brenna Bird is escalating her ongoing dispute with the financial services industry by demanding documents from a top Wall Street company that she accuses of antisemitism.
Since taking office in 2023, Bird has repeatedly criticized what she describes as "woke investment strategies," often joining other states in writing letters to major companies and regulators.
In a May 2024 letter to investors in ExxonMobil, Bird claimed that adopting so-called Environmental, Social and Governance, or ESG, investment strategies runs the risk of lower returns for Iowans' retirement investments.
On Wednesday, Bird took that cause a step further, announcing an investment and subpoena against MSCI Inc., which provides data and analytics for other companies' investment funds. According to MSCI, funds tracking the company's indexes currently manage more than $15.5 trillion. MSCI is headquartered in New York and does not have any Iowa offices.
In a press release, Bird accuses MSCI of antisemitism for allegedly "participating in the antisemitic movement to boycott, divest and sanction companies for doing business with Israel," including a company that manufactured security barriers for Israel.
"After the barbaric terror attacks on Oct. 7, it is more critical than ever that we support our allies in Israel and root out antisemitic hate," Bird said. "MSCI’s silence when asked whether it is targeting companies for doing business in or with Israel is deafening."
MCSI, in a statement, denied penalizing any investment opportunity because of connections to Israel.
"MSCI does not engage in or support in any way the boycott, divestment and sanctions movement in any of our business practices or product offerings," according to the statement. "Our products are free from political influence or other biases and do not incorporate any BDS considerations or penalize companies for operating in Israel or for contributing to Israel’s defense against terrorism."
Iowa adopted a law in 2022 prohibiting state agencies and retirement funds from doing business with companies that engage in boycotts against Israel, but Bird's subpoena instead cites potential volitions of the Iowa Consumer Fraud Act.
She is demanding records, including MSCI's reports and ratings on ESG topics and ways in which companies may have been penalized for their connections to Israel.
Since taking office in 2023, Bird has repeatedly criticized what she describes as "woke investment strategies," often joining other states in writing letters to major companies and regulators.
In a May 2024 letter to investors in ExxonMobil, Bird claimed that adopting so-called Environmental, Social and Governance, or ESG, investment strategies runs the risk of lower returns for Iowans' retirement investments.
On Wednesday, Bird took that cause a step further, announcing an investment and subpoena against MSCI Inc., which provides data and analytics for other companies' investment funds. According to MSCI, funds tracking the company's indexes currently manage more than $15.5 trillion. MSCI is headquartered in New York and does not have any Iowa offices.
In a press release, Bird accuses MSCI of antisemitism for allegedly "participating in the antisemitic movement to boycott, divest and sanction companies for doing business with Israel," including a company that manufactured security barriers for Israel.
"After the barbaric terror attacks on Oct. 7, it is more critical than ever that we support our allies in Israel and root out antisemitic hate," Bird said. "MSCI’s silence when asked whether it is targeting companies for doing business in or with Israel is deafening."
MCSI, in a statement, denied penalizing any investment opportunity because of connections to Israel.
"MSCI does not engage in or support in any way the boycott, divestment and sanctions movement in any of our business practices or product offerings," according to the statement. "Our products are free from political influence or other biases and do not incorporate any BDS considerations or penalize companies for operating in Israel or for contributing to Israel’s defense against terrorism."
Iowa adopted a law in 2022 prohibiting state agencies and retirement funds from doing business with companies that engage in boycotts against Israel, but Bird's subpoena instead cites potential volitions of the Iowa Consumer Fraud Act.
She is demanding records, including MSCI's reports and ratings on ESG topics and ways in which companies may have been penalized for their connections to Israel.
Iowa Attorney General Bird accuses Wall Street giant of antisemitism, subpoenas records
Iowa attorney general who has criticized 'woke' investments launches investigation into Wall Street giant MSCI's ties to anti-Israel boycotts.
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