Norway has temporarily suspended the ethics council of its sovereign wealth fund to prevent divestments from major U.S. tech companies such as Amazon, Microsoft, and Alphabet. Announced by Finance Minister Jens Stoltenberg, this decision aims to maintain the $2.1 trillion Government Pension Fund Global's stability amid geopolitical tensions related to Israel's actions in Gaza.
The pause in the ethics council's activities is intended to avoid forced sales of significant holdings that could impact the fund's diversification strategy. According to Norges Bank, U.S. tech stocks represent over 15% of the fund's equity value, with Alphabet alone accounting for more than $20 billion.
Norway Halts Ethics Council to Protect Sovereign Wealth Fund from U.S. Tech Divestments
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