Rhode Island-Israel Collaborative opposes ballot referendum

The Rhode Island Israel Collaborative (RIIC) strongly opposes the proposed “Human Rights Divestment Ordinance” [that will be on the November ballot in Providence].

The proponents of the ordinance have publicly acknowledged that it is intended to “bring attention to Palestine” by using Providence’s investment policies to advance a position on an international political issue. The ordinance therefore improperly converts the city’s investment authority into a platform for political advocacy, rather than a tool to protect the financial interests of Providence residents. The City of Providence’s responsibility is to govern effectively by providing essential public services that directly affect the daily lives of its residents, including public health and safety, education, infrastructure, community services, economic development and land-use planning. Its investment decisions should be guided solely by fiduciary principles — preserving public assets, earning prudent returns and meeting its obligations to pensioners, retirees, beneficiaries and taxpayers — not by taking positions on complex international political controversies through municipal investment policy.

Submitted by Avi Nevel on behalf of the Rhode Island-Israel Collaborative.