Norway’s $ 1.9 trillion dominant fund, Israeli companies in the middle of the reaction of Gaza Humanitarian Crisis
Norway’s $ 1.9 trillion Egemen Servet Fund was officially disposed of from 11 Israeli companies known as Norges Bank Investment Management (NBIM), and Bloomberg terminated all contracts with foreign administrators in the country due to the great public pressure on the humanitarian crisis in Gaza.
In particular, the NBIM is the world’s largest sovereign wealth, and therefore the Fund grew up because of the allegations of IDF’s genocide and war crimes against civilians in Gaza.
NBIM said in a statement that the fund kept stocks in 61 Israeli companies by June 2025 and that CEO Nicolai Tangen added: uz We take these measures in a very special conflict. ” He also described the situation in Gaza as a “serious human crisis ..
NBIM will end all active management in Israel
According to the BB report, Norway’s sovereign fund is largely an index audience, but has an area for active management. In his statement, the NBIM said that all the active management in Israel has sold all stocks in 11 companies that represent a portion of 0.1% of the total Israeli assets and have no part of the index.
The Fund also said that it will invest in some investments, not all Israeli companies in the index.
The world’s largest sovereign fund attracts the attention of activists and politicians
The NBIM, which has approximately 1.5 percent of the stocks in the world, has long tried to remain apolitical for a long time, but its task includes instructions reflecting public opinion views from land mines to climate change.
It is recommended by an external ethical council that constantly evaluates the portfolio and proposes for exclusion or observation.
Nevertheless, NBIM’s position as the world’s largest dominant reserve fund attracted the attention of politicians and activists. In 2022, the Fund decided to freeze and sell Russian assets in response to Moscow’s full -scale Ukrainian invasion. Later in that year, a panel appointed by the government warned that the fund will be increasingly more challenging moral dilemmas.
Public Opinion Open: 78% says ‘excludes companies that do not respect human rights’
In a recent survey, 78% of the participants said that they wanted NBIM to exclude companies that do not respect human rights. The Fund excluded 11 companies for their activities in the West Bank.
In May last year, Norway recognized the Palestinian state of Palestinian state, and repeatedly called on Israel to allow more humanitarian aid to Gaza.
Finance Minister Jens Stoltenberg ordered the review of all Israeli investments last week after the Aftenposten newspaper reported that it was used for attacking Bet Shemesh engines, one of the beings of the Fund for attacking Gaza.
In 2023, the NBIM first acquired a 1.3% holding for Bet Shemesh engines and increased its position to 2.1% last year, according to its website.
Norwegian Politics: Israel Criticism Party leads to ideas polls
Discussions about the fund’s assets in Israel come at a sensitive time for the ruling workers’ party, leading to the ideas polls before the next month’s parliamentary elections. The Labor Party criticized Israel’s war, saying that it violated international law. The Green Party, one of the smaller opposition forces, called for the resignation of the Fund CEO Tangen, and the socialist left demanded to review what the government knows about investments.
“Since we are approaching an election, various parties use it to advance their own interests and define themselves, Kar Nevertheless, “Nobody wants the oil fund to be a political tool because it’s a slippery slope.”
(With Bloomberg)
