"Norway fund divests Gulf state assets over human rights, climate"

Norway's largest pension fund said Thursday it was divesting holdings in 11 Gulf state companies over "unacceptably high human rights violations risks" and Saudi oil giant Aramco for flouting the fund's climate expectations.

KLP -- which manages over 700 billion kroner ($70 billion) -- said the Gulf companies were active within the telecommunications and real estate sectors...

The divestment from the companies amounted to $15 million, according to KLP, adding that the decision followed a due diligence assessment.

In 2022, KLP divested Russian companies following Russia's invasion of Ukraine, and in 2021, the fund divested holdings in companies linked to Israeli settlements in the occupied West Bank, including telecom equipment giant Motorola.