Reuters: World’s Largest Wealth Fund Divests from Israeli Telecom Provider
December 6, 2024Norway’s sovereign wealth fund, the world’s largest, has sold all its shares in Israel’s Bezeq (BEZQ.TA), opens new tab as it provides telecoms services to Israeli settlements in the occupied West Bank.
The decision, announced late on Tuesday, comes after the fund’s ethics watchdog, the Council on Ethics, adopted a new, tougher interpretation of ethics standards for businesses that aid Israel’s operations in the occupied Palestinian territories.
The $1.8-trillion fund has been an international leader in the environmental, social and governance (ESG) investment field. It owns 1.5% of the world’s listed shares across 8,700 companies, and its size gives it influence.
It is the latest decision by a European financial entity to cut back links to Israeli companies or those with ties to the country, as pressure mounts from foreign governments to end the war in Gaza.
@reuters
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