The Norwegian sovereign wealth fund has introduced its determination to disinvest from six extra Israeli shares resulting from their actions within the territories over the inexperienced line. As of June 2025, the fund held stakes in 61 Israeli firms. Final week the fund introduced that it had bought holdings in 17 firms resulting from varied financial standards, and now it’s reporting that it has bought its holdings in six further firms. Norwegian monetary newspaper “E24,” studies that the fund now holds shares in solely 38 Israeli firms, and the quantity of the investments has been lowered by a minimum of $400 million.
The wealth fund, which manages about $2 trillion worldwide and earlier than the disinvestment managed about $2 billion in investments in Israel, didn’t disclose the names of the six firms from which it’s at present within the strategy of disinvesting. It introduced that it’ll accomplish that as quickly because the sale course of is accomplished. Up to now yr, the fund additionally bought its holdings in Bezeq and Paz resulting from their actions within the territories. Choices on disinvestment resulting from alleged violations of worldwide regulation are made by the fund’s ethics committee, which reviewed its Israel investments following a request from the federal government earlier this month.
Not promoting all its Israeli holdings
The Norwegian sovereign wealth fund’s CEO Nicolai Tangen stated final week that the fund, “Plans ending its investments in further Israeli firms,” as has been introduced at present. Nevertheless, the fund introduced that it isn’t promoting all its investments in Israel. Through the restructuring of investments introduced final week, the fund introduced that it was additionally terminating its relationship with the monetary establishments that handle its investments in Israel, and that it could handle them independently.
Tangen was responding to the general public uproar in Norway in current weeks, when a bunch of Palestinian activists protested that the fund held shares in Beit Shemesh Engines, which it alleged has hyperlinks to the Israeli Air Drive. The federal government stated that the businesses within the wealth fund’s portfolio needs to be “significantly reviewed,” and the fund pledged to take action by August 20. Tangen took “private” accountability for not analyzing the investments sooner and continued to rely, he stated, on the Israeli monetary establishments that managed the investments.
The problem has grow to be politically charged, with greater than 65% of Norwegians supporting the whole sale of the entire fund’s investments in Israel, in line with surveys. Norway goes to the polls subsequent month, with its center-left authorities struggling to carry on to energy. The left-wing opposition in Norway, in addition to public opinion, has turned sharply towards Israel for the reason that Hamas terror assaults of October 7 and the struggle in Gaza.
RELATED ARTICLES
The fund’s assertion quoted in Norwegian media stated, “(Israel’s) violations have grow to be extra critical since October 7, 2023, they usually have grow to be much more critical in 2025. The ethics committee has subsequently tightened its necessities for firms concerned within the (Israeli-Palestinian) battle. Accordingly, the fund really useful in July to divest investments from six further Israeli firms which can be thought of to be contributing to Israel’s violation of worldwide regulation.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on August 18, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
