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.

Il fondo sovrano norvegese: gravi violazioni dei diritti umani

Fund says move against Caterpillar, five Israeli banks due to their contribution ‘to serious violations of rights’.

World’s largest wealth fund says it has dropped Caterpillar and five Israeli banking groups on ethics grounds

Norges Bank said it was divesting from U.S. manufacturer Caterpillar over the use of its products in the destruction of Palestinian property.

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…

Norges Bank Investment Management is pulling billions from Israeli banks and divesting the globe's biggest American-based construction manufacturer over ethical concerns in Gaza.

Wealth fund offloads £1.8bn holding in bulldozer-maker after pressure from ethics council

Norges Bank Investment Management (NBIM) informed Israeli firms Meitav Portfolio Management and hedge fund ION that it had withdrawn the funds they managed in Israel and would no…