Norway has suspended its ethical investing rules to avoid its $2.1tn 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.
Jens Stoltenberg told the Financial Times that the US had publicly conveyed its concerns after the world’s largest sovereign wealth fund sold out of Caterpillar after its bulldozers were used in the Palestinian territories.
Norway’s centre-left government pushed an urgent proposal through parliament on Tuesday, putting the work of the independent ethics council on hold.
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