Norway Debates Divestment of World's Largest Sovereign Wealth Fund from Israeli Companies
Norwegian lawmakers discuss whether the $1.9 trillion sovereign wealth fund should divest from companies in the occupied Palestinian territories. The Labour government, facing pressure, resists a boycott, citing ethical guidelines. Finance Minister Jens Stoltenberg and socialist lawmaker Ingrid Fiskaa debate the fund's role and impact.
On Wednesday, Norwegian lawmakers engaged in a heated debate regarding the potential divestment of the country's $1.9 trillion sovereign wealth fund from companies operating in the occupied Palestinian territories.
Despite pressure from pro-Palestinian advocates, the minority Labour government appeared poised to reject a blanket divestment, emphasizing existing ethical protocols. Finance Minister Jens Stoltenberg argued that while the fund divests from firms violating international law, not all corporations with local operations are affected.
Ingrid Fiskaa of the Socialist Left party highlighted the association between the fund's investments and Israeli authorities' actions against Palestinian communities. The parliamentary watchdog has advised divestments from certain Israeli businesses, including Paz and Bezeq, as further possible actions are considered.
(With inputs from agencies.)
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