The article states Israel has no objection to the resolution's text; Israel simply doesn't want the UN involved in the latest peace efforts. Why? Because for the last three decades, the UN has been something less than even-handed. Recall particularly the UN General Assembly's infamous "Zionism is Racism" resolution 3379 (1975). Even the General Assembly itself eventually came to recognise how odious 3379 was, repealing it in resolution 4686 (1991). Israel has its faults, but too often the UN seems to delight in falsely accusing it of outrages which any number of the UN's other constituent nations practice in actuality on a daily basis. Enough of this hypocrisy!
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Diplomat David Govrin appointed Israel's new ambassador to Cairo pending cabinet approval (Haaretz)
from the article: U.S. withdraws UN Annapolis resolution after Israel objects