Norway Sovereign Wealth Fund Cuts Israeli Investments Over Gaza, West Bank Concerns

Norway's $2 trillion sovereign wealth fund is divesting from 11 Israeli companies and terminating contracts with Israeli asset managers amid escalating conflict in Gaza and the West Bank. The fund's decision follows a government-mandated review prompted by concerns that some investments indirectly support operations in the occupied Palestinian territories. Norges Bank Investment Management, which manages the fund, cited unacceptable risks related to serious norm violations associated with business activities in the West Bank. Despite Norway’s parliament rejecting a full divestment proposal, the fund continues to strengthen its due diligence and scrutinize its Israeli holdings. Norwegian officials, including Prime Minister Jonas Gahr Støre, expressed discomfort over the investments, particularly in companies linked to military operations. This move reflects the fund's broader ethical stance and ongoing concern about the deteriorating humanitarian situation in the region.