Fund said decision against Caterpillar and five Israeli banks due to their contribution ‘to serious violations of rights in situations of war and conflict’.
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Norway’s $2-trillion wealth fund, the largest in the world, has divested from US construction equipment giant Caterpillar over the firm’s purported involvement in rights violations perpetrated by the Israeli military in Gaza and the occupied West Bank.
The Norwegian central bank said on Monday that it had decided to exclude Caterpillar from the fund, which it manages, “due to an unacceptable risk that the companies contribute to serious violations of the rights of individuals in situations of war and conflict”.
The fund also announced that it had divested from five Israeli banks, based on the recommendation of its council on ethics.
