Norway’s powerful LO trade union, representing over 900,000 workers, called for the country’s $1.8tn sovereign wealth fund on Tuesday to divest from companies supporting Israel’s occupation of Palestinian territories.
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Legal and ethical stance: LO deputy leader Steinar Krogstad told Reuters: “We want the fund to pull out of companies with activities in occupied Palestinian territories”, citing violations of international law.
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Gaza war escalates pressure: Krogstad noted “this question [is] more on the agenda now … because of Israel’s policy, attacks and war in Gaza and in the West Bank.”
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Government appeal: LO and 47 civil society groups sent Finance Minister Jens Stoltenberg (an LO member) on the 10 April a letter urging immediate divestment from firms risking “complicity in violating international law” and stricter ethical guidelines going forward.
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Legal backdrop: The demand follows a 2023 International Court of Justice ruling that Israel’s occupation is illegal.