Norway’s largest wealth fund has divested from US construction equipment giant Caterpillar due to its alleged involvement in human rights violations by Israel in the Gaza Strip and West Bank.
The $2 trillion fund, which manages Norway’s foreign investments, excluded Caterpillar from its portfolio “due to an unacceptable risk that the companies contribute to serious violations of human rights,” according to a statement.
Caterpillar, a leading manufacturer of bulldozers, is accused by Norwegian authorities of being used by Israeli forces to destroy Palestinian property.
The decision was made in consultation with the fund’s ethics council, which stated that Caterpillar had “not implemented any measures” to prevent its products from being used for unlawful destruction.
The move comes amid a growing controversy over Israel’s settlement plans in the West Bank and Gaza Strip. Last year, the International Court of Justice ruled that Israeli settlements built on Palestinian territory seized in 1967 should end.
Norway’s fund had initially announced plans to divest from six companies as part of an ethics review, but declined to specify them until their stakes were sold.
Source: https://www.aljazeera.com/news/2025/8/26/norway-fund-divests-from-us-firm-caterpillar-over-gaza-west-bank-abuses