Norway election a defining moment for human rights–compliant investments News
Punkmorten, Public domain, via Wikimedia Commons
Norway election a defining moment for human rights–compliant investments

Norwegians went to the polls Monday in an election widely seen as pivotal for the future of the country’s $1.5 trillion sovereign wealth fund, and whether it should fully divest from companies that support Israel’s occupation of Palestinian territories and related violations of international law.

The Government Pension Fund Global (GPFG), which includes investments in several companies listed by the UN as involved in Israel’s unlawful settlement activity in Palestine, has fallen under public scrutiny. In a recent report, Amnesty International Norway described the debate as a defining moment for the nation. Political adviser Astri Menne Sjoner added:

Human rights are at the heart of this election. Norway’s Government Pension Fund has rightly once again come under intense scrutiny for investments in companies contributing or directly linked to Israel’s genocide against Palestinians in the Gaza Strip and other serious violations of international law.

The call for action comes amid escalating warnings from UN officials about the humanitarian crisis in Gaza. Speaking before the Security Council in July, Emergency Relief Coordinator Tom Fletcher said conditions had reached “unspeakable” levels, citing soaring child deaths, rising malnutrition, and a collapsing health system under near constant bombardment. According to the Palestinian Ministry of Health in Gaza, 64,522 Palestinians have been killed and 163,096 injured since October 2023. The toll includes more than 2,300 Palestinians killed while trying to access food and aid since May.

In July 2024, the International Court of Justice (ICJ) issued an advisory opinion holding that states have an obligation to prevent trade and investment relations that help sustain Israel’s occupation and settlement expansion. Amnesty argues that this ruling requires Norway to overhaul the GPFG’s ethical guidelines to ensure compliance with international law.

Pressure on the fund intensified after the Council on Ethics recommended divestment from construction equipment manufacturer Caterpillar due to concerns about its role in human rights violations. The decision sparked political backlash and underscored the polarizing nature of the fund’s exclusion process.

Amnesty International Norway called on all political parties to pledge that, if elected, they will ensure the GPFG becomes a “global leader for human rights–compliant investments,” beginning with full disengagement from business activities linked to Israel’s occupation and alleged violations of Palestinian rights. The outcome of Monday’s election will determine whether Norway aligns its sovereign wealth strategy more closely with international human rights standards.

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