- cross-posted to:
- europe@feddit.org
- cross-posted to:
- europe@feddit.org
cross-posted from: https://lemmy.zip/post/52851375
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.
not only a bad decision from ethics point of view, but also a bad financial bet with incoming ai bubble burst
Yeah I hope this bites them.
Remember that the norwegian pension fund is incredibly large, and so broadly distributed that it just follows the market itself. https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway Still doesn’t mean they should avoid their own rules