Norway to Reassess Sovereign Wealth Fund’s Investments in Israeli Companies

Oslo: Norwegian Finance Minister Jens Stoltenberg announced plans to request a renewed review of Norway's sovereign wealth fund investments in Israeli companies, amid concerns over the worsening humanitarian situation in the Gaza Strip due to the ongoing conflict. According to Palestine News and Information Agency - WAFA, Stoltenberg emphasized the need for Norges Bank and the Ethics Council to conduct this review to ensure that the Government Pension Fund Global, also known as the Oil Fund, is not involved in companies that might be complicit in international law violations in the West Bank and Gaza Strip. The minister highlighted the importance of responsible management in the bank's investment strategy. Stoltenberg clarified that the review's objective is to ensure that the fund's investments do not support companies contributing to the illegal occupation of the West Bank or the ongoing war in Gaza, actions that contradict international law. This initiative follows the fund's 2025 decision to divest from Israel's Paz Retail and Energy due to its involvement in supplying fuel to Israeli settlements in the occupied Palestinian territories. The Norwegian fund, which is the largest in the world, holds 1.5 percent of listed shares across 9,000 companies globally and is valued at $1.8 trillion. It is recognized as a leader in environmental, social, and governance (ESG) investments.