2d ago

Norway’s Wealth Fund Divests From 11 of 61 Stakes in Israeli Companies, After Criticism

truthout.org

33 comments

Norges has publicly divested and excluded more than 100 companies from its investment because their products or conduct violate fundamental ethical norms. The list comprises companies from around the globe.
Such exclusion lists exist for practically all similar funds, at least in democratic countries (before the tankies go mad: yes, it's not perfect, we know). As you can see, in case of Norges, the list includes companies from a wide range of countries and regions, notably from the EU, the US, and China.
The 11 Israeli companies are not yet listed on the Norges website (as far as I can tell from quickly reading through the list).
Additon: The fund writes on its website:
Since 2020, we have been in contact with more than 60 companies to raise this issue [of war and conflict zones]. Of these, 39 dialogues were related to the West Bank and Gaza. In the autumn of 2024, we further intensified the monitoring of our investments in Israeli companies. As a result, we have sold our investments in several Israeli companies.
- "Norges"? is your ai drunk?
  
  No...it's the Norwegian way of writing.
  
  Norway's sovereign wealth fund - the Norges Bank Investment Management, a subsidiary of Norwegian central bank Norges - is the fund this article is about.
  They now do also all their Israeli-related investment in-house, btw, meaning that all investments that have been managed by external managers in Israel are now managed by Norges' internal portfolio managers (additon: they are terminating contracts with external managers in Israel. So this is a process, but the decision has been made).
  
  You use the word “AI” like the right wing uses the word “woke”. It’s not a good look.
11 of 61? So not even 20% wow that’s a whole lot of nothing…really showed them
- It's about companies involved with the Israeli military and their actions in Gaza. The rest have either, not been found to be involved, or are being kept as a bargaining chip I guess.
  
  kept as a bargaining chip
  That's my suspicion too. Cutting all ties also cuts all talks. Norges Bank has a duty to their own investors to balance the financial interest with ethical principles. If they're otherwise profitable, it makes sense to hold on to the shares and use them as diplomatic leverage instead.
  Not all activism needs to be cut-and-dry. Often, negotiations can move a lot more than pure antagonism (though they often need to be backed up by some "otherwise..." to hold any weight).
Note: only the ones that are doing poorly
- Note: only the ones that are doing poorly
  Where do you get this? Your statement has nothing to do with the article.
  
  The 11 that are doing poorly. It makes very much sense if you pay attention
- What does 'poorly' mean? It is highly unusual for an institutional investor like this to divest (let alone from a dozen or so companies from a single country). Most of their assets never turn over.
  
  6d old troll account, better to just block and not give attention imo

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