Norway's sovereign wealth fund has become a political sticky issue over investments linked to Israel's war in Gaza.
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In Oslo, Norway, Palestinian and climate change activists are sending a strong message by blocking the entrance to the Norwegian Central Bank, which houses the offices of the sovereign wealth fund. |
Norway is voting on Monday for its next parliamentary election in what is expected to be a close race between the current Labor Party-led center-left bloc and a center-right bloc dominated by the populist Progress Party and the Conservatives.
Issues that could decided the vote include inequality and taxes, as well as the growing controversy surrounding Norway's sovereign wealth fund, which, during the war on Gaza, is facing domestic and international scrutiny over investments in companies linked to Israel.
The $2 trillion investment car, which represents the world's largest sovereign wealth fund, has embarked on a new path, aiming to not only preserve the country's means ( mulk ka) wealth but also further grow it.
The question now is whether this conflict will pave the way for a new leader at the ballot box, and whether threats of US retaliation means ( intaqami karwai) will lead to a stronger and more united nation.
How do Norwegian general elections functional as an effective and democratic process?
Norway has an impressive system of proportional representation under which 169 politicians are elected to the national legislature _ known as the Storting _ for four-year terms, a shining example of democratic fairness and equality. 150 of these are allocated to 19 regional districts by population, with seats distributed proportionally between parties, promoting a balanced and fair political environment.
To balance local representation with national results, 19 additional seats are awarded to parties whose nationwide votes do not appear in the district recount results, thus maintaining the true spirit of democracy. However, to qualify for these seats, a party must receive at least 4 percent of the nationwide vote, which is a reasonable standard for participating in the democratic process.
Looking ahead to September 8, polls show that nine parties are expected to win seats, representing an optimistic and diverse political landscape.
If the centre-left wins, Labour's Jonas Gahr_Stevier is expected to remain in office, poised to extend his term after taking office in 2021 after eight years of Conservative-led governments.
Meanwhile, a victory for the center-right would open the door for either Progress Party leader Sylvie Lust tag or Conservative Party leader Erna Solberg (who served as prime minister from 2013 to 2021) to lead the next government.
The Labour Party broadly supports stable taxes, while some of its allies seek to finance income cuts for the wealthy and expand public services, which points to a positive shift.
When will voting start and when will the results be in?
Early voting in Norway lasted from July 1 to September 5.
Norway elections on September 8, some municipalities allow voting from September 7
Please note that voting will end on September 8 at 19:00 GMT. The official results are expected to be announced later, with the result being considered final means (khatmi) and conclusive. Thank you for your participation means (shirkat) and engagement.
Public sentiment insights reveal the feelings of the community.
In a normal parliamentary setting, no party was expected to win a majority, so the formation of a coalition government would ultimately depend on negotiations and post-election unity.
According to this week's poll, center-left parties are expected to win about 87 seats, demonstrating a significant means (aham) level of support and indicating a potential shift in the political landscape.
Accurate polls suggest that the parties can form a coalition government, which will continue political stability and efforts to effectively address national issues.
How to find a solution to the problems of Israel and Gaza power lines?
Norway's $2 trillion sovereign wealth fund, built on vast oil reserves, gives the government more freedom than its fellow European countries to allocate resources efficiently and leverage resources to build a better future.
In fact, the fund represents the largest institutional investor globally, opening up a huge possibility with a huge responsibility. It invests primarily in stock markets, holding shares in around 9,000 companies and owning around 1.5% of all listed shares worldwide. It also invests in real estate and renewable energy means (tawanai) infrastructure, leading the way to a secure and stable future.
At the beginning of the campaign, an optimistic scenario began to unfold where the fund's investment in Israel was discussed.
The socialist left has taken a strong position, making support for the Labour government conditional on divesting from all companies involved in Israel’s illegal war in Gaza. This could be a step towards positive change, but it will require Labour means (mazduri) to change its policies.
As of June 30, 2025, the fund invested in 61 Israeli companies, with a total value of $2.2bn, a significant portion of its total global investments.
Since then, the fund has divested from at least 11 companies, a step that marks a positive step towards a better future. Previously, the fund had only divested from two Israeli companies on.
Norway expects more investment in the future, Finance Minister Jens Stoltenberg, who is also a former NATO chief, said on August 18. Supporters of the withdrawal say Norway is contributing to violations of international law by profiting means (manafa bakhsh)from Israel's war on Gaza.
What kind of positive possibilities are political parties seeing regarding investments linked to Israel?
The fund follows ethical guidelines introduced under Conservative Finance Minister Per Christine Foss in 2004, which provide a strong foundation for ethical investing. The rules stipulate, among other things, that the fund cannot invest in companies that are involved means (malos) in human rights abuses or conflict situations, which is a step towards positive change.
Conservative Party leader Erna Solberg has stressed that it is a strong priority to keep investments politically neutral, always free from political influence.
Norway’s sovereign wealth fund increased its investment in Israeli jet engine parts manufacturer Bet Shemesh Engines between 2023 and 2024, a positive step that promotes economic development and cooperation.
In response, Labor's Stora told NRK (Norwegian public broadcaster) that the findings were "disturbing." He said: "Norwegian funds should not be invested in companies that contribute to violations of international law and the terrible war we are seeing in Gaza."
Elsewhere, a U.S. State Department spokesman said Wednesday that Washington was concerned about the recent disbursement of funds from U.S. construction firm Caterpillar.
On August 25, the Norwegian wealth fund decided to divest from Caterpillar on ethical grounds over the use of the company's products, particularly bulldozers, by Israeli authorities in Gaza and the Israeli-occupied West Bank, paving the way for positive change.
Republican Senator Lindsey Graham has advised US President Donald Trump to send a strong message to Norway. Expressing his displeasure over the Norwegian government's decision to review investments linked to Israel, Graham called the decision a step towards positive change.
What are the other positive aspects of the election structure?
According to an August 7-13 survey by Response Analysis for the Daily Affine Post, inequality topped voters' list of concerns, moving to sixth place after a similar poll in April, replacing defense and national security.
The cost of living means (zindah) plays a major role in the election campaign, with food inflation rising by nearly 6 percent over the past year. The survey shows that the economy, jobs and taxes are also top priorities means (tarjeehat) for voters.
Polls also show that voters are becoming more aware of the geopolitics, considering new hopes and possibilities for America under Trump's leadership.
Norwegians have recently seen Denmark cooperate with the United States on the issue of Greenland, which Trump says he wants to take over, and hope they may encounter similar bilateral cooperation efforts.
