logo
Norway wealth fund divests from Israel's Paz Retail and Energy due West Bank activities

Norway wealth fund divests from Israel's Paz Retail and Energy due West Bank activities

Reuters11-05-2025
OSLO, May 11 (Reuters) - Norway's sovereign wealth fund, the world's largest, has sold all of its shares in Israel's Paz Retail and Energy (PAZ.TA), opens new tab because it owns and operates infrastructure for the supply of fuel to Israeli settlements in the occupied West Bank, it said on Sunday.
The divestment is the second after the fund's ethics watchdog, the Council on Ethics, adopted in August a tougher interpretation of ethics standards for businesses that aid Israel's operations in the occupied Palestinian territories.
The first divestment was from Israeli telecoms firm Bezeq (BEZQ.TA), opens new tab, in September.
The fund, which owns 1.5% of listed shares across 9,000 companies globally, operates under guidelines set by Norway's parliament and is seen as a leader in the environmental, social and governance field.
It is the latest decision by a European financial entity to cut back links to Israeli companies or those with ties to the country since the outbreak of the war in Gaza in October 2023.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Microsoft launches inquiry into claims Israel used its tech for mass surveillance of Palestinians
Microsoft launches inquiry into claims Israel used its tech for mass surveillance of Palestinians

The Guardian

time3 hours ago

  • The Guardian

Microsoft launches inquiry into claims Israel used its tech for mass surveillance of Palestinians

Microsoft has launched an 'urgent' external inquiry into allegations Israel's military surveillance agency has used the company's technology to facilitate the mass surveillance of Palestinians. The company said on Friday the formal review was in response to a Guardian investigation that revealed how the Unit 8200 spy agency has relied on Microsoft's Azure cloud platform to store a vast collection of everyday Palestinian mobile phone calls. The joint investigation with the Israeli-Palestinian publication +972 Magazine and the Hebrew-language outlet Local Call found Unit 8200 made use of a customised and segregated area within Azure to store recordings of millions of calls made daily in Gaza and the West Bank. In a statement, Microsoft said 'using Azure for the storage of data files of phone calls obtained through broad or mass surveillance of civilians in Gaza and the West Bank' would be prohibited by its terms of service. The inquiry, to be overseen by lawyers at the US firm Covington & Burling, is the second external review commissioned by Microsoft into the use of its technology by the Israeli military. The first was launched this year amid dissent within the company and reports by the Guardian and others about Israel's reliance on the company's technology during its offensive in Gaza. Announcing the review's findings in May, Microsoft said it had 'found no evidence to date' the Israeli military had failed to comply with its terms of service or used Azure 'to target or harm people' in Gaza. However, the recent Guardian investigation prompted concerns among senior Microsoft executives about whether some of its Israel-based employees may have concealed information about how Unit 8200 uses Azure when questioned as part of the review. Microsoft said on Friday the new inquiry would expand on the earlier one, adding: 'Microsoft appreciates that the Guardian's recent report raises additional and precise allegations that merit a full and urgent review.' The company is also facing pressure from a worker-led campaign group, No Azure for Apartheid, which has accused it of 'complicity in genocide and apartheid' and demanded it cut off 'all ties to the Israeli military' and make them publicly known. Since the Guardian and its partners, +972 and Local Call, revealed Unit 8200's sweeping surveillance project last week, Microsoft has been scrambling to assess what data the unit holds in Azure. Several Microsoft sources familiar with internal deliberations said the company's leadership was concerned by information from Unit 8200 sources interviewed for the article, including claims that intelligence drawn from repositories of phone calls held in Azure had been used to research and identify bombing targets in Gaza. Israel's 22-month bombardment of the territory, launched after the Hamas-led attack on 7 October 2023, has killed more than 60,000 people, the majority of them civilians, according to the health authority in the territory, though the actual death toll is likely to be significantly higher. Senior Microsoft executives had in recent days considered an awkward scenario in which Unit 8200, an important and sensitive customer, could be in breach of the company's terms of service and human rights commitments, sources said. If you have something to share about this story, you can contact Harry Davies and Yuval Abraham using one of the following methods. Secure Messaging in the Guardian app The Guardian app has a tool to send tips about stories. Messages are end to end encrypted and concealed within the routine activity that every Guardian mobile app performs. This prevents an observer from knowing that you are communicating with us at all, let alone what is being said. If you don't already have the Guardian app, download it (iOS/Android) and go to the menu. Select 'Secure Messaging'. To send a message to Harry and Yuval please choose the 'UK Investigations' team. Signal Messenger You can message Harry using the Signal Messenger app. Use the 'find by username' option and type hfd.32 Email (not secure) If you don't need a high level of security or confidentiality you can email SecureDrop and other secure methods If you can safely use the tor network without being observed or monitored you can send messages and documents to the Guardian via our SecureDrop platform. Finally, our guide at lists several ways to contact us securely, and discusses the pros and cons of each. According to leaked files reviewed by the Guardian, the company was aware as early as late 2021 that Unit 8200 planned to move large volumes of sensitive and classified intelligence data into Azure. At Microsoft's headquarters in November that year, senior executives – including its chief executive, Satya Nadella – attended a meeting during which Unit 8200's commander discussed a plan to move as much as 70% of its data into the cloud platform. The company has said its executives, including Nadella, were not aware Unit 8200 planned to use or ultimately used Azure to store the content of intercepted Palestinian calls. 'We have no information related to the data stored in the customer's cloud environment,' a spokesperson said last week. An Israeli military spokesperson has previously said its work with companies such as Microsoft is 'conducted based on regulated and legally supervised agreements' and the military 'operates in accordance with international law'. The new inquiry will examine the military's commercial agreements with Microsoft. Once completed, the company will 'share with the public the factual findings that result from this review', its statement said.

Microsoft launches inquiry into claims Israel used its tech for mass surveillance of Palestinians
Microsoft launches inquiry into claims Israel used its tech for mass surveillance of Palestinians

The Guardian

time6 hours ago

  • The Guardian

Microsoft launches inquiry into claims Israel used its tech for mass surveillance of Palestinians

Microsoft has launched an 'urgent' external inquiry into allegations Israel's military surveillance agency has used the company's technology to facilitate the mass surveillance of Palestinians. The company said on Friday the formal review was in response to a Guardian investigation that revealed how the Unit 8200 spy agency has relied on its Azure cloud platform to store a vast collection of everyday Palestinian mobile phone calls. The joint investigation with the Israeli-Palestinian publication +972 Magazine and the Hebrew-language outlet Local Call found Unit 8200 made use of a customised and segregated area within Azure to store recordings of millions of calls made daily in Gaza and the West Bank. In a statement, Microsoft said 'using Azure for the storage of data files of phone calls obtained through broad or mass surveillance of civilians in Gaza and the West Bank' would be prohibited by its terms of service. The inquiry, to be overseen by lawyers at the US firm Covington & Burling, is the second external review commissioned by Microsoft into the use of its technology by the Israeli military. The first was launched earlier this year amid dissent within the company and reports by the Guardian and others about Israel's reliance on the company's technology during its offensive in Gaza. Announcing the review's findings in May, Microsoft said it had 'found no evidence to date' the Israeli military had failed to comply with its terms of service or used Azure 'to target or harm people' in Gaza. However, the recent Guardian investigation prompted concerns among senior Microsoft executives about whether some of its Israel-based employees may have concealed information about how Unit 8200 uses Azure when questioned as part of the review. Microsoft said on Friday the new inquiry would 'expand on' the earlier one, adding: 'Microsoft appreciates that the Guardian's recent report raises additional and precise allegations that merit a full and urgent review.' The announcement comes as the company faces pressure from a worker-led campaign group, No Azure for Apartheid, which has accused it of 'complicity in genocide and apartheid' and demanded it cut off 'all ties to the Israeli military' and make them publicly known. Since the Guardian and its partners, +972 and Local Call, revealed Unit 8200's sweeping surveillance project last week, Microsoft has been scrambling to assess what data the unit holds in Azure. Several Microsoft sources familiar with internal deliberations said the company's leadership was concerned by information from Unit 8200 sources interviewed for the article, including claims that intelligence drawn from repositories of phone calls held in Azure had been used to research and identify bombing targets in Gaza. Israel's 22-month bombardment of the territory, launched after the Hamas-led attack on 7 October 2023, has killed more than 60,000 people, the majority of them civilians, according to the health authority in the territory, though the actual death toll is likely to be significantly higher. Senior Microsoft executives had in recent days considered an awkward scenario in which Unit 8200, an important and sensitive customer, could be in breach of the company's terms of service and human rights commitments, sources said. If you have something to share about this story, you can contact Harry Davies and Yuval Abraham using one of the following methods. Secure Messaging in the Guardian app The Guardian app has a tool to send tips about stories. Messages are end to end encrypted and concealed within the routine activity that every Guardian mobile app performs. This prevents an observer from knowing that you are communicating with us at all, let alone what is being said. If you don't already have the Guardian app, download it (iOS/Android) and go to the menu. Select 'Secure Messaging'. To send a message to Harry and Yuval please choose the 'UK Investigations' team. Signal Messenger You can message Harry using the Signal Messenger app. Use the 'find by username' option and type hfd.32 Email (not secure) If you don't need a high level of security or confidentiality you can email SecureDrop and other secure methods If you can safely use the tor network without being observed or monitored you can send messages and documents to the Guardian via our SecureDrop platform. Finally, our guide at lists several ways to contact us securely, and discusses the pros and cons of each. According to leaked files reviewed by the Guardian, the company was aware as early as late 2021 that Unit 8200 planned to move large volumes of sensitive and classified intelligence data into Azure. At Microsoft's headquarters in November that year, senior executives – including its chief executive, Satya Nadella – attended a meeting during which Unit 8200's commander discussed a plan to move as much as 70% of its data into the cloud platform. The company has said its executives, including Nadella, were not aware Unit 8200 planned to use or ultimately used Azure to store the content of intercepted Palestinian calls. 'We have no information related to the data stored in the customer's cloud environment,' a spokesperson said last week. An Israeli military spokesperson has previously said its work with companies such as Microsoft is 'conducted based on regulated and legally supervised agreements' and the military 'operates in accordance with international law'. The new inquiry will examine its commercial agreements with Microsoft. Once completed, the company will 'share with the public the factual findings that result from this review', its statement said.

Germany tells Israeli government to stop West Bank settlement construction
Germany tells Israeli government to stop West Bank settlement construction

Reuters

time14 hours ago

  • Reuters

Germany tells Israeli government to stop West Bank settlement construction

BERLIN, Aug 15 (Reuters) - Germany on Friday called on the Israeli government to stop settlement construction in the West Bank after Israel's far-right finance minister said work would start on a plan for thousands of home that would divide the Palestinian territory. Germany "firmly rejects the Israeli government's announcements regarding the approval of thousands of new housing units in Israeli settlements in the West Bank," said a foreign ministry spokesperson in a statement. Plans for the "E1" settlement and the expansion of Maale Adumim would further restrict the mobility of the Palestinian population in the West Bank by splitting it in half and cutting the area off from East Jerusalem, said the spokesperson. Israeli Finance Minister Bezalel Smotrich announced on Thursday that work would start on the long-delayed settlement, a move that his office said would "bury" the idea of a Palestinian state. In a statement, Smotrich's spokesperson said the minister had approved the plan to build 3,401 houses for Israeli settlers between an existing settlement in the West Bank and Jerusalem. Germany has repeatedly warned the Israeli government to stop settlement construction in the West Bank, which violates international law and U.N. Security Council resolutions. Such moves complicate steps towards a negotiated two-state solution and end to Israeli occupation of the West Bank, said the spokesperson.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store