Norway's sovereign wealth fund, the largest in the world with assets totaling approximately $2 trillion, has announced the exclusion of six additional Israeli companies from its investment portfolio. This decision follows an ethics review focused on the companies' connections to the occupied West Bank and the ongoing conflict in Gaza. The latest divestment brings the total number of Israeli companies excluded by the fund to 23, with a combined valuation of $143.3 million. The fund has committed to conducting quarterly assessments of its Israeli holdings to ensure compliance with its ethical investment criteria. This move is part of a broader international response, including increased scrutiny and sanctions targeting Israeli firms linked to military operations in Gaza. In related developments, Israeli defense companies have been barred from participating in a major defense exhibition in the Netherlands scheduled for November, reflecting growing global criticism over the Gaza conflict. Additionally, Canadian company Calian GNSS has halted shipments to Israel’s Elbit Systems. Norway’s upcoming election has also brought attention to potential shifts in the governance of the sovereign wealth fund, which could influence future ethical investment strategies.
Israeli defense companies will be banned from one of the Netherlands' most popular defense showcases in November, according to event organizers. https://t.co/LfM4kLrodQ
Norway's election spotlight is on its giant fund's Israel investments. A potential shift in governance could redefine ethical investment strategies. #Norway #SovereignWealthFund #Ethics https://t.co/2sCJlyvgYq
Israeli arms companies barred from Dutch defence exhibition amid growing criticism over Gaza war https://t.co/gBEy0zJuES