Norway’s Wealth Fund Divests From 11 of 61 Stakes in Israeli Companies, After Criticism
https://truthout.org/articles/norways-wealth-fund-divests-from-11-of-61-stakes-in-israeli-companies/Open linkView original on lemmy.zip184
Comments33https://truthout.org/articles/norways-wealth-fund-divests-from-11-of-61-stakes-in-israeli-companies/Open linkView original on lemmy.zip
Norges has publicly divested and excluded more than 100 companies from its investment because their products or conduct violate fundamental ethical norms. The list comprises companies from around the globe.
Such exclusion lists exist for practically all similar funds, at least in democratic countries (before the tankies go mad: yes, it's not perfect, we know). As you can see, in case of Norges, the list includes companies from a wide range of countries and regions, notably from the EU, the US, and China.
The 11 Israeli companies are not yet listed on the Norges website (as far as I can tell from quickly reading through the list).
Additon: The fund writes on its website:
"Norges"? is your ai drunk?
No...it's the Norwegian way of writing.
If the central bank of England was named "Englands Bank" would you call it Englands?
Norges Bank literally means Bank of Norway, and is the central bank of Norway. Norge is the name of Norway in Norwegian. In Norwegian you add a s after a noun to make it possessive.
Edit: Downvoting changes neither the name of the bank, nor Norwegian grammar, lol. This place is so Reddit-brained.
Norges Bank Investment Management: The fund - www.nbim.no
Yes, I know, I can read Norwegian. The name of the bank is still "Norges Bank", not "Norges". NBIM is a department of Norges Bank managing the Governement Pension Fund of Norway. As you are very set on it being called "Norges" I assume you can read Norwegian and can read the Norwegian Wikipedia article on the department:
https://no.wikipedia.org/wiki/Norges_Bank_Investment_Management
Here, I'll even throw you a bone and link the English article for Norges Bank:
https://en.wikipedia.org/wiki/Norges_Bank
See the part where it's name is "Norges Bank" and not "Norges"?
nei, ingen 's' i "Norge"
No it literally only translates to "Norway's".
Source: I am norwegian, æøå
You use the word “AI” like the right wing uses the word “woke”. It’s not a good look.
tongue in cheek.
Norway's sovereign wealth fund - the Norges Bank Investment Management, a subsidiary of Norwegian central bank Norges - is the fund this article is about.
They now do also all their Israeli-related investment in-house, btw, meaning that all investments that have been managed by external managers in Israel are now managed by Norges' internal portfolio managers (additon: they are terminating contracts with external managers in Israel. So this is a process, but the decision has been made).
Are you confusing the name of subsidiary? Thinking it's name is something like Norges - Bank Investment Management?
It's actually Norges Bank - Investment Management, which would translate to Bank of Norway - Investment Management. Because, you know, it manages investments.
As a Norwegian I can safely say no one in Norway calls our central bank Norges, it is only called Norges Bank. Calling it Norges in Norwegian would be like calling it Norway's in English. Norway's what? Call it Norges Bank, Bank of Norway, Norwegian central bank. Just not Norges, because that name does not make sense.
Litt spesielt å se folk fra andre land krangle om norsk grammatikk 😅
Blir litt oppgitt når folk som ikke kan et eneste ord på norsk uttaler seg som om de jobber i Språkrådet.
11 of 61? So not even 20% wow that’s a whole lot of nothing…really showed them
It's about companies involved with the Israeli military and their actions in Gaza. The rest have either, not been found to be involved, or are being kept as a bargaining chip I guess.
That's my suspicion too. Cutting all ties also cuts all talks. Norges Bank has a duty to their own investors to balance the financial interest with ethical principles. If they're otherwise profitable, it makes sense to hold on to the shares and use them as diplomatic leverage instead.
Not all activism needs to be cut-and-dry. Often, negotiations can move a lot more than pure antagonism (though they often need to be backed up by some "otherwise..." to hold any weight).
Note: only the ones that are doing poorly
What does 'poorly' mean? It is highly unusual for an institutional investor like this to divest (let alone from a dozen or so companies from a single country). Most of their assets never turn over.
6d old troll account, better to just block and not give attention imo
Where do you get this? Your statement has nothing to do with the article.
The 11 that are doing poorly. It makes very much sense if you pay attention
Where do you get this? It makes sense if you provide a source for your bold statements.
Look at the companies.
Which companies did they divest from? What are their returns for the fund?
@[email protected]
Can you enlighten us how you paid attention? Which companies are these?
Someone who works at Citibank NA comes over to my house. I tie them up and do weird things to them. Then we have dinner and talk shit about financial stuff. Of course, you’re not gonna believe me but guess what I don’t care.
@[email protected]
It doesn't matter what I believe.
Which companies did the fund sell?
…. Why do you want to know? So you can dump your Israeli stocks before it’s announced in march or leaked?
You said they divested only from those who are doing 'poorly'. Which firms are they?
Seems pretty legit