GAZA, (PIC)– Norway’s Sovereign Wealth Fund (SWF) Ethnic Council, the world’s largest sovereign wealth fund, has recommended to exclude a number of Israeli companies from the Norwegian investments.
The Norwegian decision followed the enormous popular pressures in protest against those companies’ contribution in the Israeli siege on Gaza and Israeli settlement expansion, which violate the investment standards set by the SWF Ethics Council.
According to its ethical guidelines, the SWF cannot invest money in arms-producing companies or companies that directly or indirectly violate human rights.
SWF was established in 1990 to serve the Norwegian posterity. The fund changed its name in January 2006 from its previous name: The Petroleum Fund of Norway. The fund is commonly referred to as The Oil Fund.
SWF Ethics Council’s member Professor Dag Olav Hessen said that the Finance Ministry has opened an investigation into the Israeli power company’s practice of severing power to Gaza and/or reducing the amount fed to the besieged enclave.
Hessen pointed out that the list includes more Israeli companies such as Elbit Systems which is an Israel-based international defense Electronics Company engaged in a wide range of programs throughout the world. The company operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems (“UAS”), advanced electro-optics, electro-optic space systems, EW suites, signal intelligence (“SIGINT”) systems, data links and communications systems and radios.
The boycott list also includes Africa-Israel Company and its subsidiaries for its illegal activities in occupied Jerusalem, in addition to the Israeli construction companies that contribute in settlement expansion at the expanse of occupied Palestinian territories.
THE LEGAL RIGHT OF RESISTANCE
MORAL, HISTORICAL & LEGAL RIGHT OF SELF-DEFENSE
GENOCIDE & ETHNIC CLEANSING OF PALESTINE
DEBUNKING THE ISRAELI MYTHS