Monday, the Norwegian oil fund has released three companies in its portfolio, one of Malaysia and two Israel. On the recommendations of the Advisory Council on ethics of the sovereign wealth Fund, the Ministry of Finance of the Norway, decision-making, justified these exclusions by the fact that the impugned companies did not have ethical behavior. He explains that the Samling Global forestry company operates illegally and causes irreversible environmental damage in the forests of Sarawak (Malaysia) and Guyana. For their part, Africa Israel Investments and its subsidiary Danya Cebus was established in the ban because they built in the occupied territories. "The ethical Council based its recommendations on the fact that the international community, which shares the same views on the area east of the 1967 borders, considered an occupied territory and as such it comes under the jurisdiction of the Fourth Geneva convention," said the Norwegian Minister of finance, Sigbjorn Johnsen. He added that the Fund risk unacceptable by contributing to serious violations of individual rights in times of war. Participation in Africa Israel Investments was valued at more than 1.1 million dollars at the end of last year, and in Samling Global, to $ 1.3 million. Drops of water in its financial ocean of 8,500 entries with a value of 455 billion (to June 30).
The reactions are not made to wait in Israel. Some media do not hesitate to speak of anti-Zionist boycott or attempt to block the expansion of the Jewish presence in Judea-Samaria. On the stock side, this was on the contrary the status quo. The body powered by the Norway oil exports is not its exclusion test run, it is the mark of his ethical management. Since 2002, he ruled about 50 of its portfolio values: each because of their weapons manufacturing, others because they were in the production of tobacco. Groups were excluded because they polluted mining conglomerates in mind. Some have not accepted, such as the American Wal-Mart, on May 31, 2006 was blame "for the serious and systematic violations of the rights of man and the rights of the employees".
Charter and policy
All of these examples tend to show that the sovereign fund matures long decision, refers to texts and laws to justify eviction, because in the heat of events, it is difficult to arbitrate. Thus British Petroleum, originally of a massive spill in the Gulf of the Mexico, remained in the portfolio of the state capitalist, even polluting its performance. It must be said that the decision to leave a line of about 3 billion dollars, the third of the Fund, is not in haste. In June, shortly after the collision of the Turkish vessel "mavi marmara" by Israeli commandos who had been 9 civilian deaths and dozens of wounded, "Business week" revealed that the Norwegian Fund did not exclude the Israeli companies in his portfolio after the boarding of vessels wishing to counter the blockade. "It is not in our Charter and policy to exclude all companies of a country or geographical area." "If we act in this way, we would be perceived as an instrument of foreign policy of our country", said the Minister of Finance of the Norway, Sigbjorn Johnsen.
The principal is also owner of the customerThe Department of housing provides the distribution of 380The least we can say is that this is not selfevidentIt would also produce for many more yearsLeft more than 160 members asked to speakWith BPCE for example in consumer creditThis has already led me to take two stepsWe are in full global assimilation analysisIn the CHU of 2020 there is virtually no bedsThe cost for public finances will be high
