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3h ago

Norway’s $2 Trillion Wealth Fund Sells Caterpillar Stake Over Gaza Rights Findings

The fund says it followed its ethics council’s assessment that the company’s bulldozers are used for widespread illegal destruction of Palestinian property.

Des engins Caterpillar stationnés dans un parking chez Peterson Cat, le 5 août 2025 à San Leandro, en Californie.
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Overview

  • The fund confirmed on Aug. 26 it exited its roughly 1.2% holding in Caterpillar, valued at about $2.4 billion.
  • The Council of Ethics found Caterpillar equipment is used by Israeli authorities in Gaza for unlawful demolitions and said the company failed to prevent such misuse.
  • The fund also divested from five Israeli banks accused of financing settlement building in the occupied West Bank: First International Bank of Israel, FIBI Holdings, Bank Leumi, Mizrahi Tefahot and Bank Hapoalim.
  • Caterpillar did not immediately respond to requests for comment on the divestment.
  • Earlier in August, the fund announced plans to sell stakes in 11 Israeli companies as part of a broader review tied to the Gaza war.