Overview
- Norges Bank said the Government Pension Fund Global has sold its stakes and formally excluded the six companies under its ethical guidelines.
- The banks are Hapoalim, Bank Leumi, Mizrahi Tefahot, First International Bank of Israel and FIBI Holdings.
- The Ethics Council found the banks provided financial services that enable construction and maintenance of Israeli settlements in the West Bank and East Jerusalem.
- It said Caterpillar bulldozers have been used by Israeli authorities in widespread, unlawful destruction of Palestinian property and in actions that violate humanitarian law.
- As of June 30, the fund held 1.2% of Caterpillar worth about $2.1 billion and about $661 million in total across the five banks.