MADRID, 18 (EUROPA PRESS)
Norway's Global Government Pension Fund, the world's largest sovereign wealth fund, announced Monday that it will divest from six Israeli companies after its board of directors agreed to do so on August 8 due to the "deteriorating situation in the West Bank and the Gaza Strip."
The Scandinavian entity thus responded to the recommendations issued on June 25 and July 2 by the Ethics Council, an independent body. For its part, the country's Ministry of Finance had requested a "review" of its investments due to the developments in the conflict.
fund, which invests Norwegian oil and gas revenues abroad, reported that as of August 14, it held assets worth NOK 19 billion ( €1.595 billion ) in 38 companies domiciled in Israel. This is equivalent to NOK 4 billion (€335.8 million) and 23 fewer companies than registered on June 30.
"The war in Gaza is a humanitarian crisis. The situation in the West Bank and Gaza continues to worsen, causing enormous human suffering. The Fund fully understands that, at this time, questions are being raised about its investments in Israeli companies," the fund stated in a press release.
In this, he recalled that the rationale behind his positions is to "maximize profits with acceptable risk," which includes an exercise in "responsible investment."
