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Jewish Insider: “Morningstar removes controversy tags on 19 companies doing business in Israel and West Bank”

“Morningstar removes controversy tags on 19 companies doing business in Israel and West Bank”

Marc Rod, Jewish Insider

July 6, 2023

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Morningstar removes controversy tags on 19 companies doing business in Israel and West Bank Financial services firm Morningstar has removed controversy ratings the company had assigned to 19 companies doing business in Israel and the West Bank following a year of controversy and accusations that the firm had employed anti-Israel bias in its environmental, social and governance (ESG) ratings system.

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Seven companies — B Communications, Bezeq, Construcciones y Auxiliar de Ferrocarriles SA, Elbit Systems, Elco Ltd., Electra Ltd. and Shapir Engineering and Industry Ltd. — will retain ratings for alleged involvement in controversies, a Morningstar spokesperson Sarah Wirth said.

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The changes come weeks after Florida’s chief financial officer announced a new probe into Morningstar, following an amendment to Florida’s anti-BDS law in May aimed specifically at Morningstar.

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