Norway's $1.9 Trillion Dilemma: Ethical Investments or Political Stance?

Norway's parliament has decisively shut down a proposal to prompt the country's $1.9 trillion sovereign wealth fund to divest from companies with activities in the occupied Palestinian territories. Despite mounting pressure from pro-Palestinian activists, the minority Labour government opted to stand by its established ethical guidelines.

Finance Minister Jens Stoltenberg emphasized that the fund already takes action against companies contributing to Israel's breach of international law but draws the line at divesting from all enterprises operating locally. Stoltenberg emphasized the fund's adherence to a comprehensive set of ethical rules, overseen by a separate body.

Lawmaker Ingrid Fiskaa argued that without the fund's investments, Israeli operations in Palestinian territories would suffer. However, Stoltenberg reassured that the government is confident their investments comply with international law. Ongoing evaluations continue to spotlight potential divestments from companies operating in Israel, as monitored by the fund's ethical watchdog.

(With inputs from agencies.)