Jens Stoltenberg says move will avoid forced sale of shares in Amazon, Microsoft and Alphabet over their work for Israel

Norway has suspended its ethical investing rules to avoid its $2.1 trillion (€1.8 trillion) oil fund being forced to sell out of Amazon, Microsoft and Alphabet due to their work for the Israeli government, according to its influential finance minister.

  • Zombie@feddit.ukEnglish
    32·
    2 days ago

    Spineless. There’s so much money to be made via other endeavours, ones which would be more likely to be profitable with the financial backing of such a wealth fund.

    • Griffus@lemmy.zipEnglish
      19·
      2 days ago

      It has become such a huge national case because many, many of us disagree with the government on this.

      • Zombie@feddit.ukEnglish
        5·
        1 day ago

        If they can suspend your ethics council at will then you have never really had an ethics council. There’s no war, no economic depression, no emergency forcing their hand.

        Norway is a very prosperous country, I’ve been there a few times and seen for myself, there’s no excuse for suspending ethics for financial gain in this way.