Repeal of exclusions from the Government Pension Fund Global
Historical archive
Published under: Stoltenberg's 2nd Government
Publisher: Ministry of Finance
News story | Date: 21/08/2013
At the recommendation of the Council on Ethics, the Ministry of Finance has decided to revoke the exclusions of the companies Africa Israel Investments Ltd. and Danya Cebus Ltd. The reason for the decision is that the companies are no longer involved in the activities on which their exclusion was based.
At the recommendation of the Council on Ethics, the Ministry of Finance has decided to revoke the exclusions of the companies Africa Israel Investments Ltd. and Danya Cebus Ltd. The reason for the decision is that the companies are no longer involved in the activities on which their exclusion was based.
In November 2009, the Council on Ethics recommended the exclusion of the Israeli company Africa Israel Investments Ltd. and its subsidiary Danya Cebus Ltd. from the fund. The reason was that the companies were involved in the building of Israeli settlements in the West Bank.
The Ministry of Finance followed the recommendation of the Council on Ethics, and decided to exclude the companies in August 2010. The Council on Ethics routinely considers whether the basis for the exclusion of a company is still present. Information has been provided stating that neither Africa Israel Investments Ltd. nor any of its subsidiaries are involved in the construction of settlements in the West Bank anymore, and that there are no plans for such activities in future. Accordingly, the Council on Ethics has recommended that the exclusions be revoked.
The Ministry of Finance has decided to follow the recommendation.