❗️Norway’s $2 trillion wealth fund to halt investments in 11 Israeli companies

 ❗️Norway’s $2 trillion wealth fund to halt investments in 11 Israeli companies

Norway’s $2 trillion sovereign wealth fund, the world’s largest, announced today it is selling stakes in several Israeli companies and ending all contracts with Israeli asset managers in light of the situation in Gaza and the occupied West Bank.

“We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened. In response, we will further strengthen our due diligence,” said fund CEO Nicolai Tangen.

Norges Bank Investment Management, which oversees the fund, said it is divesting from 11 of the 61 Israeli companies in which it holds shares, as these are not part of the Finance Ministry’s equity benchmark index.

The companies were excluded “due to unacceptable risk of contribution to serious norm violations associated with business operations in the West Bank,” the fund said.