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4w ago

Norway’s KLP Divests Thyssenkrupp and Oshkosh Over Arms Sales to Israel

The fund says UN findings of continued weapon deliveries to Israeli forces in Gaza violate its human rights standards.

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Eine Korvette von Thyssenkrupp. Der norwegische Pensionsfonds entfernt das Unternehmen aus seinem Portfolio wegen Berichten über den Gaza-Krieg.

Overview

  • KLP sold NOK 19 million of Oshkosh shares and NOK 10 million of Thyssenkrupp shares under its responsible investment guidelines.
  • The divestment follows a June 2024 review sparked by UN reports that weapons from both companies were used by Israeli forces in Gaza.
  • Thyssenkrupp delivered four Sa’ar 6 warships to the Israeli navy between November 2020 and May 2021 and plans to supply a submarine later this year.
  • Oshkosh confirmed that it has sold and continues to sell vehicles and parts used by the Israeli military for armoured troop transport.
  • Norway’s $1.6 trillion Government Pension Fund Global faces mounting calls to divest from firms linked to Israel’s Gaza war and West Bank settlements.