Are sovereign wealth funds dumping Israeli investments?
Summary
Norway's government is reviewing its sovereign wealth fund's investments in Israeli companies involved in the conflict in Gaza. The review follows reports that the fund holds a stake in a company providing parts for Israeli military aircraft. Norway's leaders have expressed concern about these investments given the ongoing conflict and humanitarian crisis in Gaza.Key Facts
- Norway's sovereign wealth fund is worth nearly $2 trillion and holds shares in various global companies.
- It has a stake in Bet Shemesh Engines Ltd, an Israeli company supplying parts to military jets used in Gaza.
- Norway’s Prime Minister and Finance Minister have voiced concerns over the fund’s investments related to Israel's military actions.
- The fund had increased its stake in Bet Shemesh Engines Ltd to 2% by the end of 2024, valued at $15 million.
- In total, the fund held shares in 65 Israeli companies, valued at $1.95 billion by the end of 2024.
- Norway's parliament recently rejected a proposal to divest from all companies operating in occupied Palestinian territories.
- The fund has previously sold shares in other Israeli companies due to their operations in illegal settlements.
- The fund's ethics council is reviewing whether to recommend divesting from certain Israeli banks.
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