Norway wealth fund excludes firms linked to West Bank settlements
Al Jazeera
Norway’s $1.3 trillion sovereign wealth fund is divesting from two firms over their activities associated with Israeli settlements in the West Bank ‘built in violation of international law’.
Norway’s $1.3 trillion sovereign wealth fund excluded Shapir Engineering and Industry Ltd and Mivne Real Estate KD Ltd. for their activities associated with Israeli settlements on the West Bank. The companies were excluded based on advice from the Council on Ethics “due to unacceptable risk that the companies contribute to systematic violations of individuals’ rights in situations or war or conflict,” the fund said in a statement. The world’s biggest wealth fund, which owns about 1.5% of listed stocks globally, is managed according to a wide range of ethical guidelines and excludes some companies from its investment universe based on advice from the council.
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