Norway wealth fund excludes Caterpillar and five Israeli banks

OSLO: Norway’s $2 trillion wealth fund, the world’s largest, said on Monday it has divested from US construction equipment group Caterpillar and from five Israeli banking groups on ethics grounds. The five banks are Hapoalim, Bank Leumi, Mizrahi Tefahot Bank, First International Bank of Israel and FIBI Holdings, the fund said in a statement. The six groups were excluded “due to an unacceptable risk that the companies contribute to serious violations of the rights of individuals in situations of war and conflict,” said the fund, which is operated by Norway’s central bank.

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