US: University of Virginia refuses to divest from Israel despite student referendum

The managers of the University of Virginia’s (UVA) multi-billion-dollar endowment announced on Friday that they will not divest from Israel, a decision taken despite a February referendum passing a pro-boycott, divestment and sanctions resolution targeting Israel. 

Students and faculty had been engaged in a divestment campaign since the fall of 2023, among many other college campuses.

UVA’s investment management company, responsible for managing the school’s nearly $14bn endowment, has now officially rejected those calls to withdraw investments from companies linked to Israel on the basis of not “using divestment as a means of expressing political views”, according to Kristina Alimard, the company’s chief operating officer.

During a recent board of visitors meeting, Alimard stated, “We are not divesting from any investments in response to the student referendum that was passed earlier this year.”

She emphasised that the institution’s primary goal is to achieve strong financial returns.

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