Money from the exploitation of natural resources invested in a sovereign wealth fund will not be invested in fossil fuel companies, the fund’s chairman tells the Knesset committee that oversees the fund.
Yoram Ariav says a decision was made yesterday to “avoid direct investment” in oil and gas companies.
Asked by committee chairman Meretz MK Mossi Raz if the decision was motivated by ethics or economics, Ariav says he believes that both were taken into consideration.
The Israeli Citizens’ Fund was created to invest expected windfall profits from the discovery of natural gas and other natural resources. It began to operate on June 1 after passing the required income threshold of one billion shekels.
The committee is told that exactly NIS 1,140,000 had entered the fund and had already been converted into $341,927.
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
From the Liveblog of
Tuesday, June 14, 2022
Add ToI as a Preferred Source on Google
