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Caterpillar

Norwegian Fund Drops Stake In US Construction Giant

June 26, 2024 News Desk, The Cradle. , , , , , ,
Norway’s largest private pension fund, Kommunal Landspensjonskasse Gjensidig Forsikringsselska (KLP), has dropped its stake in US construction giant Caterpillar Inc, citing “concerns” the company is contributing to the destruction of Palestinian homes in the occupied West Bank. “Although Caterpillar has shown itself willing to engage in a dialogue with KLP, the company’s responses failed to credibly substantiate its ability to actually reduce the risk of violating the rights of individuals in situations of war or conflict, or of violating international law,” Kiran Aziz, the firm’s head of responsible investments, told Bloomberg.

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