Norwegian fund excludes two companies supplying weapons to “Israel”

OSLO, June 30 (YPA) – Norway’s Government Pension Fund, regarded as one of the largest sovereign wealth funds globally, revealed on Monday that it has blacklisted several companies linked to the Israeli Defense Forces (IDF) due to their role in providing weapons utilized during the ongoing Israeli aggression in Gaza over the past 21 months.

The fund’s statement, as reported by Bloomberg, confirmed the exclusion of American company “Oshkosh” and German company “ThyssenKrupp” from its investment portfolio because of their role in supplying “Israel” with equipment and weaponry potentially involved in severe human rights violations in Gaza.

The decision was based on a UN report warning that supplying arms to the Israeli occupation could expose these companies to the risk of complicity in war crimes and systematic violations of international humanitarian law.

The fund explained that its ethical principles prohibit investing in companies involved in arms sales to countries that commit systematic violations. It also urged global companies to review their business practices and policies to avoid complicity in such crimes. 

YPA