Di Norwegian parliament don reject one proposal wey wan make dem tighten di rules for dia big sovereign wealth fund wey dey invest for companies wey dey operate for West Bank.
Even though Norway bin play central role for di two-state peace process for di 1990s, di lawmakers vote 88 to 16 against di proposal wey for make di fund comot money from companies wey “dey contribute to Israel war crimes and di illegal occupation” for West Bank.
Norway sovereign wealth fund na di biggest for di world, e dey powered by di plenty oil and gas wey di country dey export. Di fund get about $1.8 trillion wey e don invest for different places for di world. Di fund dey always talk say dem dey exclude companies from dia portfolio based on ethical reasons.
But di question be say, why dem go vote to continue wetin some people dey call war crimes, illegal occupation, and ethnic cleansing?
Di fund ethical guidelines talk say dem no fit invest for companies wey dey contribute to killing, torture, or human rights violation for conflict or war situations. But for practice, di fund still dey invest for some arms-producing companies, as di guidelines only ban some kain weapons like nuclear arms.
For di past 20 years, di fund don exclude some Israeli companies, like Elbit Systems for 2009, Africa Israel Investments and Danya Cebus for 2010, and Shikun Uvinui for 2012, because dem violate international humanitarian law for occupied Palestinian territory. But di exclusions dey very small compared to di plenty companies wey dey operate for West Bank.
For Norway, di government dey under pressure to use dia financial power to influence Israel policies for Gaza and West Bank, where di settlement policy don dey illegal under international law. About 50 Norwegian NGOs, led by di main union for di country, dey push di Labour government to make sure say di fund dey follow di country legal obligations.
UN special rapporteur for Palestinian territories, Francesca Albanese, don urge Norway to “comot all investment wey dey linked to Israel illegal presence for occupied Palestinian territory.” But Norway finance minister Jens Stoltenberg talk say di government dey concerned about wetin dey happen for Palestine, but e still defend di legality of di fund investments for di Israeli-occupied territories.
Since di late 2010s, di UN Human Rights Office don dey investigate di impact of Israeli settlements on di rights of Palestinian people for di occupied territories. Di reports dey focus on major companies wey dey play critical role for di settlements. Most of di companies dey based for Israel, and di first report for 2020 show say some companies like General Mills don comot from di activities after campaign against dem.
Apart from Israeli companies, some international companies like Airbnb, Expedia, Booking.com, and others dey operate for di occupied territories. Some dey operate through dia parent organisations or as licensors, like Motorola and Booking Holdings.
One coalition of Palestinian, regional, and European organisations, Don’t Buy into Occupation (DBIO), talk say almost 800 European financial institutions get financial relationship with over 50 businesses wey dey involved for Israeli settlements. Di list include big names like BNP Paribas, Barclays, Credit Agricole, and Deutsche Bank.
Under international law, Israeli settlements and dia expansion dey illegal, and dem fit be seen as war crimes under di Rome Statute of di International Criminal Court. Companies wey dey operate for di settlements dey play big role for dia sustainability and expansion.
For di past decade, di Israeli government don spend plenty money to fight di international boycott movement. But some Israeli Jews still dey support di boycott. For 2012, Avraham Burg, former chair of di Knesset, support boycott of settlement products, saying dem no be “made in Israel.” Journalist Gideon Levy also support di boycott, talk say international pressure na di only way change fit happen.
Di boycott movement no be antisemitic or anti-Israel; e dey target di occupation and di settlers. But di chance say most Israelis go support di boycott dey small because of di plenty US military aid and money wey dey flow to Israel.
(This na abridged version of di text first publish for Informed Comment on June 11, 2025).
Disclaimer: Di views wey di authors express no necessarily reflect di opinions, viewpoints, and editorial policies of TRT Afrika.
