“We are taking these measures in a very special situation of conflict,” said Fund CEO Nicolai Tangen, who described the situation in Gaza as a “serious humanitarian crisis”
Norway’s global pension fund, the largest sovereign fund worldwide, will alienate participation in 11 Israelite companies and end all contracts with external managers in Israel, the Fund CEO, Nicolai Tangen, announced Monday.
“We are taking these measures in a very special conflict situation,” said Tangen, quoted by Bloomberg, who described the situation in Gaza as a “serious humanitarian crisis.”
According to the American channel, which controls 1.5% of world actions, it was facing public pressure due to the investments it had in Israelite companies.
However, Tangen clarified that the fund will keep its positions in some Israeli companies.
Norway finance minister Jens Stoltenberg has already been publicly demonstrating confidence in the Fund CEO.
Cited by Reuters, Stoltenberg also stated that the fund “should not invest in companies that contribute to the occupation of the West Bank and the conflict in Gaza.”
This is not the first time Norges Bank Investment Management, the fund’s official name, sells participations in companies from countries involved in conflicts or wars. By 2022, after the start of the large -scale invasion of Ukraine, the fund decided to freeze and sell all positions in Russian companies.
Norway, along with Spain and Ireland, was one of the first Western countries to recognize the state of Palestine after October 7, and did so on May 28, 2024.
