Norwegen setzt die Ethikregeln des 2,1 Billionen US-Dollar schweren Ölfonds außer Kraft, um den Verkauf von Big-Tech-Anteilen zu verhindern
https://www.irishtimes.com/business/2025/11/05/norway-suspends-21tn-oil-funds-ethics-rules-to-avoid-selling-big-tech-stakes/
17 Kommentare
Of course. We all know that the mightiest is the dollar, the only one true god, and everyone and everything will eventually bow down to it.
I always thought Norway was such a beacon of light when it came to their ethical policies with regards to their sovereign fund. Such a massive amount of wealth could, and did, influence countless company policies to change in order to attract their investment.
So much for the beacon.
Policies exist for exactly this reason, to avoid the inevitable temptation for more.
if you suspend ethics rules to make more money, did you ever really have ethics rules
Musks pay package is over half of the total value of the oil fund, think about that for a second
That didn’t take long.
Nothing good ever started with “suspends ethics rules”.
“There are no easy answers to these questions. But we need to handle them better than we have done so far in the ethical guidelines.” -Jens Stolenberg, Finance Minister, Former head of NATO, and guy who kinda organized this, per the article.
Has Israel done awful things? I think so.
Is divesting fom big tech like google and Microsoft going to stop them? No.
Are Google and Microsoft deeply involved in Israeli atrocities? Not really.
Will divesting from these companies hurt the social programs, saftey nets, and people of his country that rely on this fund? Very likely.
I dont think this is capitulation to greed. I think this is a heirarchy of needs / ethical calculation, and i think they might be on the right side of it.
Anger at musk. it is more than cars.
Selling would also partially mean supporting terrorist groups like Hamas. Got it.
So basically, all that “ethical investing” talk was just for show — the moment it risked their Big Tech gains, the morals went out the window. I don’t even care about the ethics part; it’s the hypocrisy that makes me sick. The world’s just full of this kind of bullshit
The discussion is much broader than this article describes. Israel and tech companies is 1, among several issues.
We are not buying stocks in companies that develop nuclear weapons. At the same time buying f35 for billions from Lookhead Martin or frigates from BAE.
Block companies that produce coal while we are making money from oil?!? I could go on, there are so much hypocrisy.
In fact the going narrative here is that we can enjoy the money from the oil, but it is important that we feel bad about it.
Read more here
https://www.nbim.no/no/ansvarlig-forvaltning/etiske-utelukkelser/
And the list
https://www.nbim.no/no/ansvarlig-forvaltning/etiske-utelukkelser/utelukkelse-av-selskaper/#
May they tumble with the rest when the bubble bursts
Money rules, ethics does not.
hahahaha
The fund that’s nearly entirely sourced from oil revenues wants to have ethics rules that they can’t invest in companies that make their revenues from coal. They are on the forefront of buying top tier warplanes from Lockheed but won’t allow for investment in Lockheed itself because they make components for nuclear weapons. Their ethics rules are just naked virtue signaling and laughably hypocritical. In this particular instance they want to divest from the big tech stocks because they happen to have contracts with Israel. Now imagine those tech companies actually cancel their contracts with Israel which use these cloud computing to help them avoid bad arrests and minimize civilian casualties during conflicts. The results would simply be more innocent lives lost rather than saved. Hypocrisy and virtue signaling to the nth degree. So dumb.
Greedy bastards
Late stage capitalism comes for all eventually. Reforms only delay the inevitable.