GNV News 2025–11–12

On 11/4/2025, the Norwegian parliament passed a decision to temporarily suspend divestment based on the ethical guidelines for the world’s largest sovereign wealth fund, the Government Pension Fund Global (GPF-G), which has assets of US$2.1 trillion. These guidelines included a provision that the fund may not invest in companies that seriously infringe individuals’ rights in situations of conflict.

The background to this decision is related to the conduct of 7 U.S. Big Tech companies—including Amazon, Google, and Microsoft—that account for more than 15% of the fund’s equity holdings. It has been noted that these companies provide cloud and artificial intelligence (AI) services necessary for Israel’s military operations in its genocide. Under the fund’s ethical rules, these companies would ordinarily be subject to divestment, but the aim of this decision is said to be to avoid that.

The fund’s source of capital is Norway’s abundant oil resources. As the country increases oil consumption, large amounts of carbon dioxide are emitted, contributing to climate change. Such climate change has manifested as extreme weather, including heatwaves, claiming many lives and ultimately resulting in human rights violations.

Learn more about the Norwegian dilemma → “Norway: Climate action or oil exports—Which will it choose?”

Learn more about Israel’s attack on Gaza → “Corporate complicity and media silence in Gaza”

Norwegian Parliament at night (Photo: Claudia Regina / Flickr [CC BY-SA 2.0])