They are guilty of “serious norm violations associated with business operations in the West Bank,” says Norges Bank Investment Management
Norway’s sovereign wealth fund, which reportedly invests about $2 trillion, divested in recent days from 11 Israeli companies it says do not meet its “equity benchmark.” More than that, it plans to move the other 50 companies in which it invests in-house, Norges Bank Investment Management announced on Monday.
“We are terminating contracts with external managers in Israel,” it said.
Fund managers have divested from Israeli companies before, citing what they say were “particularly serious violations of fundamental ethical norms” and “serious violations of individuals’ rights in situations of war or conflict,” among other issues. It also excludes those who produce tobacco or nuclear weapons.