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Bank Investment Management (NBIM) informed Israeli firms Meitav Portfolio Management and hedge fund ION that it had withdrawn the funds they managed in Israel and would no longer entrust them with active investments, citing ethical concerns related to the Gaza war. The fund had sold billions in holdings, including stakes in five banks and 23 other Israeli companies.

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…