AMWatch

Oil fund drops firms linked to West Bank settlements

The ethics council for the fund has also excluded a Japanese company over its presence in Myanmar.

Israeli air strikes pounded the Gaza Strip, killing 10 members of an extended family and demolishing a key media building, while Palestinian militants launched rockets in return amid violence in the West Bank. | Photo: MAHMUD HAMS/AFP / AFP

Norway's USD 1.3trn sovereign wealth fund excluded Shapir Engineering and Industry and Mivne Real Estate KD for their activities associated with Israeli settlements on the West Bank.

The companies were excluded based on advice from the Council on Ethics "due to unacceptable risk that the companies contribute to systematic violations of individuals' rights in situations or war or conflict," the fund said in a statement.

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