The world’s largest fund has cast its shares in 11 Israeli companies and review more.
The sovereign wealth fund in Norway at a value of $ 2 trillion says it is terminating all contracts with asset managers who deal with his Israeli investments and returned parts of its portfolio.
The announcement came on Monday after the launch of an urgent review last week after media reports stated that the fund had been built A stake in an Israeli jet engine group This provides services to the Israeli army, including the preservation of combat aircraft, such as the Israeli war of genocide on Gaza and the Palestinian population.
He said in a statement that the fund, an arm of the Norwegian Central Bank and the largest in the world, holds stakes in 61 Israeli companies as of June 30, but in recent days it got rid of the risks in 11 of these.
“We are now completely sold from these positions,” the fund said, adding that he continues to review Israeli companies in order to get rid of potential investments.
“These measures have been taken in response to unusual circumstances,” said Nikolai Tangin, CEO of Norges Bank Investment Management.
“We have invested in companies working in a country in a state of war, and the circumstances in the West Bank and Gaza worsened recently. In response, we will enhance our due care.”
The Fund stated that “a long time has long paid special attention to the companies associated with war and conflict.”
“We are constantly monitoring the management of the risks of companies related to the areas of conflict and respect for human rights,” he said.
The Norwegian government began reviewing after the Aftenposten newspaper, the leading country newspaper, revealed that the box had a stake in Bet Shemesh Engines Ltd (BSEL), which provides parts to the Israeli combat aircraft that are deployed in the war on Gaza.
Norwegian Prime Minister Jonas publicly said that the investment was “worrying”.
The sovereignty fund, which owns stakes in 8,700 companies worldwide, has sold its shares in an Israeli energy company and the wireless and wireless communication group last year.
In June, the largest pension box in Norway also decided Sever With companies dealing with Israel. In the same month, the Norway Parliament refused a proposal for the fund to abstract from all companies that have activities in the occupied Palestinian territories.
Many of the largest financial companies in Europe have reduced their links to Israeli companies or those that have relations with the country, according to the analysis of files by Reuters news agency, where pressure from activists and governments is escalating to end the war in Gaza.
Last month, Francesca Albaniz, the United Nations Special Rapporteur on the occupied Palestinian territories, called on the two countries to cut all trade and financial relations with Israel, including fully prohibiting weapons, and withdrawing international support for what it described as “Genuent Economy”.
In a report entitled “The Economy of the Occupation to the Economy of Collective Extermination”, Albaniz detailed “the mechanism of companies that support the Israeli settlement project in Israel from displacement and replace the Palestinians in the occupied territories.”
The report has identified companies – including weapons manufacturers, technology giants, heavy machinery companies and financial institutions – in order to “complicate” Israel’s suppression of Palestinians from Israeli expansions on the occupied territories to enable Palestinian monitoring and killing.
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