FT News Briefing Norway’s oil fund dumps Israeli companies
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Aug 13, 2025 Tensions rise as Norway’s oil fund divests from Israeli companies, emphasizing ethical investing amid global scrutiny. The diplomatic landscape shifts, with the White House tempering expectations for a high-stakes Trump-Putin meeting. Meanwhile, inflation holds steady in the US, and storm-battered beach towns face a dire sand shortage, prompting urgent discussions about sustainability. The interplay of political sentiments and environmental challenges shapes a compelling narrative on global finance and ethics.
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Norway Sells Israeli Stakes After Public Backlash
- Norway's $2tn sovereign wealth fund faced heavy domestic criticism over Israeli holdings tied to the Gaza offensive.
- The fund responded by selling stakes in 11 of 61 Israeli companies to address public concern.
Media Reports Sparked Divestment
- Local newspapers highlighted companies that maintained engines on planes bombing Gaza, stirring outrage.
- That media focus intensified pressure that led the oil fund to divest from some Israeli firms.
Big Fund, Big Symbolic Power
- The fund's size means even small percentage moves equal billions, making decisions highly visible and symbolic.
- Norwegians use the fund as a lever of domestic influence because other foreign-policy tools offer limited effect.