Norway wealth fund pressures Microsoft over involvement in Israel’s genocide in Gaza
Norway’s gigantic sovereign wealth fund is intensifying pressure on Microsoft over its involvement in Israel’s genocidal war in the besieged Gaza Strip, demanding that the company address human rights risks linked to its operations in the Palestinian territory.
The $2 trillion wealth fund, the largest of its kind globally, said on Monday that it supported a shareholder proposal demanding that Microsoft publish a report detailing human rights risks in countries with controversial military involvement, according to Calcalist, the Israeli daily business and economics website.
The move came after reports suggesting that Microsoft’s technologies, including software and cloud infrastructure, were used by the Israeli military during attacks on Gaza and the occupied West Bank.
The proposal comes from EICO, an organization focused on corporate human rights oversight, and calls for Microsoft to disclose how effective its internal human rights controls are, given the evidence linking its products to Israeli military operations.
The Norwegian fund also plans to vote against reappointing Microsoft CEO Satya Nadella as board chair and will oppose his compensation package, emphasizing the need for the board to consider the broader social and environmental consequences of its business practices.
The Norwegian fund, known for its ethical investment practices, has a history of opposing excessive executive pay and making ethical investment decisions.
It previously rejected Elon Musk’s pay package at Tesla and sold shares in 13 Israeli companies based on its ethics committee's recommendations. These actions demonstrate a shift toward stronger ethical scrutiny of companies with ties to Israeli military actions.
As of June, the Norwegian fund held a 1.35 percent stake in Microsoft, worth approximately $50 billion, making it the tech giant’s second-largest shareholder.
The fund’s substantial holding provides it with significant voting influence, and its stance against Microsoft reflects a broader strategy of aligning investments with its human rights and ethical guidelines.
Microsoft has acquired several Israeli tech companies founded by alumni of the Israeli military. Aurorato, Adallom, Hexaite and Cyber X, were all developed by Israeli military figures.
Furthermore, it previously invested in the Israeli company, Any Vision, which is involved in facial recognition of Palestinians for the occupation regime.
Israeli forces have killed at least 70,100 people in Gaza, most of them women and children, since October 2023.
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