"Norway wealth fund excludes India's ONGC, 3 Israeli firms from portfolio", 3 September 2021

Norway's $1.4 trillion wealth fund has excluded India's top oil producer Oil and Natural Gas Corp (ONGC.NS) from its portfolio due to concerns over the company's business in South Sudan...

The world's largest sovereign fund also excluded three Israeli firms, Elco (ELCO.TA), its subsidiary Electra (ELTR.TA) and Ashtrom (ASHG.TA) because of their links to Israeli settlements in the West Bank.

The companies were not immediately available for comment.

Exclusions are based on advice from the fund's ethics watchdog and holdings are sold before any announcement is made.

...In Israel, industrial group Elco and its construction subsidiary Electra were excluded because Electra builds roads in the Israeli settlements in the West Bank, with Electra recently winning a tender for the construction of a major road project...