Norway’s largest private pension manager stated on Wednesday that the manufacturer of bulldozers and other heavy machinery could be "contributing to human rights abuses and violations of international law in the West Bank and Gaza", reported by IRNA, citing Al Jazeera.
KLP has sold $69 million of its stake in Caterpillar for using its bulldozers to demolish Palestinian homes in Gaza, the West Bank, and other occupied Palestinian territories.
KLP, which previously held shares in Caterpillar worth 728 million Norwegian crowns ($69m), said it has engaged in dialogue with the US company but has not received satisfactory assurances that it was able to reduce the risk of violating the rights of individuals.
“For a long time, Caterpillar has supplied bulldozers and other equipment that has been used to demolish Palestinian homes and infrastructure to clear the way for Israeli settlements,” said Kiran Aziz, head of responsible investments at KLP, in the statement.
KLP announced that there is no excuse to be silent over the role of companies linked to Israel’s illegal actions in the occupied territory and its war in Gaza. Blacklisting Caterpillar and others linked to illegal settlements should become the norm for pension funds that claim to care about human rights.
Throughout 2022 and 2023, there have been reports of Caterpillar bulldozers being used in the attacks on homes, refugee camps, and infrastructure in the West Bank.
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