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Monday, May 12, 2025
From the Liveblog of
Monday, May 12, 2025
World’s largest wealth fund divests from Israel’s Paz Retail and Energy due to West Bank activities
Add ToI as a Preferred Source on GoogleNorway’s sovereign wealth fund, the world’s largest, says it has sold all of its shares in Israel’s Paz Retail and Energy because it owns and operates infrastructure for the supply of fuel to Israeli settlements in the West Bank.
The divestment is the second after the fund’s ethics watchdog, the Council on Ethics, adopted in August a tougher interpretation of ethics standards for businesses that aid Israel’s operations in the West Bank and Gaza.
The first divestment was from Israeli telecoms firm Bezeq, in September.
The fund, which owns 1.5% of listed shares across 9,000 companies globally, operates under guidelines set by Norway’s parliament and is seen as a leader in the environmental, social and governance field.
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