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Caterpillar

Norwegian Wealth Fund Drops Caterpillar, Five Israeli Banks

August 26, 2025 News Desk, The Cradle. , , , , ,
Norway’s $2-trillion sovereign wealth fund, the world’s largest, announced on 25 August that it has dropped US-based construction and mining equipment manufacturer Caterpillar and five Israeli banks over their involvement in rights abuses in Gaza and the occupied West Bank. The banks – Hapoalim, Leumi, Mizrahi Tefahot, First International Bank of Israel, and FIBI Holdings – were cut after the fund’s Council on Ethics warned they posed an “unacceptable risk” of enabling serious violations. The Council said Caterpillar’s machinery has been used by Israeli forces in “extensive and systematic violations of international humanitarian law” through the destruction of Palestinian property.

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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