Norway’s Sovereign Wealth Fund Considers Divesting From Israeli-Occupied Territories

Date: 24 December 2022 - 21:50

News ID: ۱۱۰۵۲۴

OSLO (Dispatches) – Norway’s $1.3 trillion sovereign wealth fund is reviewing its investments in the Israeli-occupied territories and may halt them entirely over concerns about the Zionist regime’s companies’ work in illegal West Bank settlements, multiple Hebrew language media outlets have reported.
The world’s largest sovereign wealth fund is mulling cutting ties with Zionist companies as a result of a 2020 decision by the United Nations to issue a blacklist of more than 100 global companies that conduct business in illegal settlements.
The fund has explored halting investments in the occupied territories for months, but the idea gained momentum recently with the formation of the regime’s new far-right cabinet, according to a report by Israel’s Channel 12 news.
“Our efforts to dissuade the fund from this action will be difficult to bring to fruition in the face of the stated policies of the [new] rulers regarding the territories,” an Israeli official told the network on condition of anonymity.
The Zionist regime lobbied heavily against the release of the UN blacklist, which included 18 international companies, such as Airbnb; Booking.com; Expedia; JCB; Opodo; TripAdvisor; and Motorola Solutions.
The sovereign wealth fund, established to ensure that Norway’s petroleum revenues are enjoyed by future generations, has been a big investor in the occupied territories.
In 2020, it poured $1.3 bn into 81 Zionist companies – about a third of its total Middle East investments.
In December the fund said it would exclude from its portfolio one Israeli software and data firm that it said held “unacceptable risk” of human rights violations.
It also has a history of divesting from businesses linked to the regime’s illegal occupation of the West Bank. In 2020 the fund reportedly sold its holdings in two Zionist construction companies, Mivne Real Estate and Shafir Engineering, over settlement construction.