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On August 7, 2025, an Israeli soldier was near a armored car in Kulkile, the west shore, during the night raid, marked by confrontations with residents. The raid, which is part of the current Israeli operations on the Western Bank, adds tension to Kalotil, a city surrounded by an Israeli barrier and is often focused on military invaders.
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The world’s largest sovereign wealth fund left its investment in US machines Caterpillar and five Israeli banks after inspecting companies with conflicts on the Western Bank.
The Executive Board of Management Investment In Investment In Norges (NBIM), which manages the fund on behalf of the Norwegian population and is estimated at about $ 2 trillion, said on Monday “unacceptable risk that companies make serious violations of human rights and conflicts.” The decision was based on the recommendations of his ethics council, the report said.
NBIM noted that the bulldozers made using the New York caterpillars “were used by Israeli authorities in the broad illegal destruction of Palestinian property.” At the end of 2024, NBIM had $ 2.4 billion in the company, which is about 1.2% of the ownership. CNBC contacted Caterpillar for comments.
NBIM stated to be deprived of banks including The first international bank Israel and its most of the owner Fibi Holdings. Bank lumum Israeli BM. Bank Mizrahi Tefahot and Bank Hapoalim BM. Enterprises provided financial services necessary for construction activities in Israeli settlements on the west coastWhich was “established in violation of international law,” NBIM said. CNBC turned to banks for comments.
Nbim exposed grows political and public pressure To get rid of your investments in firms related to conflicts in the Palestinian territories, especially with the fact that Norway is sent to the polls in two weeks. In an interview with Sweden’s Dagens Industri, NBIM CEO Nikolai Tangen last week described The Foundation facing the “crisis” and said he regretted that he did not indicate the problem with the fund that has a share in the Israeli jet campaign, while the gas strokes escaped.
Previously this month NBIM announced He would revise his investment in Israeli companies in response to The Norway’s Finance Ministry requestwhich indicated the questions related to the deterioration of the situation in the gas And the west shore. NBIM also said he would sell all the possessions of Israeli companies to the borders of his capital index “as soon as possible” and stop contracts with external asset managers in Israel. At the end of the first half of the year, there were 56 Israeli companies in its landmark index, which decreased by August 38.
The fund, meanwhile, balances its mandate to receive the highest pure profit, seeking to avoid political reaction in the US, a supporter of Israel.
Around 55% investment in capital fund are in the US, 70% of its portfolio is allocated to the promotions. High weighing fund to the technology sector helped manage 222 billion dollars annual profit Last year, then Loss of 40 billion dollars In the first quarter.
Critics have called for an Israeli lawsuit that the fund continues to invest in assets of other countries that have been charged with human rights violations, as well as oil and other politically controversial sectors.
A Tel -said the stock exchange has rose to a record high this year Even as Israel participated in the war on several fronts.
Deputy CEO NBIM Grande said CNBC on August 12 that the fund will still be invested in Israel through the index.
Recognizing “increased attention” in Norway, Grande said: “What we do now is not down, I wouldn’t have become so, but we are trying to simplify our portfolio in Israeli actions because we have ethical recommendations.”
“What is the main thing for us is that we do not invest in the company, which can be somehow, the form and form that contributes to the violation of the ethical recommendations we have,” he said.
“NBIM exceptions emphasize the inevitable clash of business and human rights,” said CNBC Ana Nakvalovit, a research associate of Oxford University, who specializes in sovereign wealth funds.
NBIM “is not a special sanction, but the criteria that have long been built into their mandate are applied. Historical data of the fund showed that ethical screens have practically not interfered with long-term profit, and in some cases they have improved, it will still be necessary to see this step (sovereign wealth fund),” said.
“It was a clear signal that the mandate was applied everywhere, to us, the US industry or Israeli creditors.”
– CNBC Chloe Taylor contributed to the story.
