Norway's Wealth Fund Drops Six Companies Over West Bank Ties

Norway's sovereign wealth fund, the world's largest, has announced its decision to exclude six companies with ties to the West Bank and Gaza from its investment portfolio. This decision follows an ethics review of its Israeli investments, revealing concerns over connections with the region.

The $2 trillion fund, however, did not disclose the names of the companies to be excluded. It assured that the divestment details and reasons for each exclusion would be shared publicly once the process is completed. The announcement comes after urgent reviews highlighted the fund's investment in an Israeli jet engine group serving Israel's armed forces.

The ethics council watchdog of the fund stated that assessments of Israeli companies will continue quarterly. This exclusion decision was based on recommendations from the fund's ethics watchdog. Additionally, it was noted that the fund has already reduced its assets in other companies, following a recent decision to only invest in those listed on its benchmark index.

(With inputs from agencies.)