The World’s Largest Sovereign Wealth Fund Against Israel
Norway’s sovereign wealth fund, the largest in the world, is determined to withdraw its investments from some companies supporting Israel based on the strategies and recommendations of its Council on Ethics for business.
The fund’s Ethics Council operates under rules set by the Norwegian Parliament, and investigations into the role of various companies in Israeli operations in Gaza have convinced the council that several companies in which the national fund holds shares violate investment prohibition rules. Specifically, major American arms manufacturers have been scrutinized, and the likelihood of the Norwegian national fund withdrawing its investments from these companies is very high.
Relations between Norway and the Israeli government have soured after this European country joined South Africa’s complaint against Israel in the International Court of Justice.