But they are statements, and when the Norwegian fund speaks, people tend to listen.
Norway’s sovereign wealth fund took a principled step in May when it excluded two companies from investment because of their involvement in Israeli settlements on the West Bank.
Norges Bank Investment Management, which runs the $1.3 trillion Government Pension Fund Global fund, excluded Shapir Engineering and Industry and Mivne Real Estate KD on the advice of the Council on Ethics “due to unacceptable risk that the companies contribute to systematic violations of individuals’ rights in situations of war or conflict,” it said in a statement.
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