Norway's Wealth Fund Under Pressure to Divest from Israel-linked Companies

Norway's LO trade union urges the $1.8 trillion sovereign wealth fund to divest from companies operating in Israeli-occupied Palestinian territories. This push, amid ongoing conflicts, seeks alignment with international law. Norwegian Finance Minister and fund operator, Jens Stoltenberg, has been contacted but no decision has been made.

In a significant move, Norway's leading trade union, LO, is calling for the divestment of Israel-linked companies from the country's $1.8 trillion sovereign wealth fund. This demand aligns with the union's stance against investments in firms violating international law in Palestinian territories.

The push comes amid heightened tensions in the region, with LO deputy leader Steinar Krogstad highlighting recent conflicts in Gaza and the West Bank as key motivations. The union has formally addressed Finance Minister Jens Stoltenberg, seeking to influence central bank decisions on fund management.

Past actions have seen divestments, such as Bezeq, yet most businesses in these territories remain under ethical review. Norway's fund, the largest globally, must balance ethical concerns with its significant investment portfolio, as the debate over its foreign policy role intensifies.

(With inputs from agencies.)